Instrument Transformer Market Global Industry Size, Share, Analysis, Developments and Forecast Till 2023
Market Research Future published a research report on “Instrument Transformer Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast Report to 2023.
Market Highlights:
The phenomenal growth in the industrial sector across the globe is creating a massive power requirement for the proper functioning of the sector. The high dependability of industrial sector towards power is enabling the growth for the power equipment in the sector. The enormous amount of power consumption in the industrial sector with varying load capacity is expected to boost the transformer market during the forecast period. Global initiatives to use more renewable and non-conventional energy sources, smart grids, & the global need to upgrade transmission grids boost the global Instrument Transformer Market. These transformers are widely used by power plants, industrial plants and conventional electric utility companies. The constant need for electricity and the unstable electricity supply situation in most developing countries, will aid in the growth of the instrument transformers market over the forecast period. However, fluctuating price of raw materials and high cost of transformers, are the factors that may hamper the growth of the market.
On the basis of regions, Asia Pacific dominates the global instrument transformer market followed by Europe and North America. It is expected to be the fastest growing region for the market. India, South Korea, Indonesia, and Singapore are the other major countries in Asia Pacific region. These countries have recently witnessed rapid industrialization & urbanization, which resulted in the growth and expansion of electrical infrastructure.
Most of the African nations are currently witnessing economic growth due to huge foreign investments in developing industrialization sector and expanding energy generation capacity through renewable resources. Africa is expected to hold one the largest share in the Middle East & Africa segment for the transformer due to huge expansion in the energy generation and grid expansion.
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Global instrument transformer market is projected to grow at a CAGR of 2.1% during the forecast period.
Competitive Analysis
Key Players
The prominent players in the global instrument transformer market include are ABB Group (Switzerland), Siemens Ltd. (Germany), General Electric Company (USA), Crompton Greaves Ltd. (India), Toshiba Corporation (Japan), Hyundai Heavy Industries Co., Ltd. (South Korea), Mitsubishi Electric Corporation (Japan), Hyosung Corporation (South Korea), Bharat Heavy Electricals Limited (India), Rakesh Transformer Industries Pvt. Ltd (India), JSHP Transformers (China), Synergy Transformers (India), Transformers & Rectifiers Ltd (India), PME Power Solutions Limited (India), and SPX Transformer Solutions, Inc. (U.S.A).
Segmental Analysis
This study provides an overview of the global instrument transformer market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global Instrument Transformer market by its material, product, manufacturing process, application and region.
By Rating
- Distribution Voltage
- Sub-Transmission Voltage
- High Voltage Transmission
- Extra High Voltage Transmission
By Enclosure Type
- Indoor Transformers
- Outdoor Transformers
By End-user
- Power Utilities
- Industries & OEMS
- Others
By Region
- North America
- Asia-Pacific
- Europe
- Rest of the World
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Global Instrument Transformer market Following Details Segment by Table of Contents:
- Instrument Transformer market Overview
- Manufacturers Profiles
- Instrument Transformer market Competition, by Players
- Instrument Transformer market Size by Regions
- North America Instrument Transformer Revenue by Countries
- Europe Instrument Transformer Revenue by Countries
- Asia-Pacific Instrument Transformer Revenue by Countries
- South America Instrument Transformer Revenue by Countries
- Middle East and Africa Revenue Instrument Transformer by Countries
- Instrument Transformer market Segment by Type
- Instrument Transformer market Segment by Application
- Instrument Transformer market Size Forecast to 2023
- Sales Channel, Distributors, Traders and Dealers
- Research Findings and Conclusion
- Appendix
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