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Instrument Transformer Market Growth Analysis, Forecasts & Trends 2019-2024

Author : Rahul Sankrityayan | Published Date : 2019-07-08 

According to Global Market Insights, Instrument Transformer Market provides a comprehensive analysis of the market segments, including their dynamics, size, growth, regulatory requirements, technological trends, competitive landscape, and emerging opportunities of global industry.

Global Instrument Transformer Market size is set to surpass $8 billion by 2025; according to a new research report by Global Market Insights, Inc.

Growing demand for electricity on account of ongoing urbanization across the globe have institutionalized measures to ensure grid stability which will in turn boost the market share. Increasing infrastructural fund allocation to assist the installation of potent monitoring and control power T&D systems will augment the industry growth. In addition, sustainable economic growth along with changing lifestyles have instilled an upsurge in the peak load demand complementing the product deployment.

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1283 pages

2726 market data tables

39 figures & charts

In 2018, auto-transformers exceeded 40% share of the global market. Operational flexibility along with voltage regulation are major factors driving the product deployment. Improved efficiency, competitive cost structure and system compactness will positively influence the unit demand when compared to the traditional alternatives. Furthermore, diversified use in conjunction with stringent energy efficiency concord will stimulate the industry scenario.

Oil immersed transformers are projected to grow over 7% by 2025. Di-electric strength and effective insulation in comparison to its competitors have positively swayed the product penetration. Application across high voltage components in conjunction with cost competitiveness will further stimulate the product adoption. The technology since establishment has observed progression in reference to its operational flexibility and higher voltage output with its key application across commercial and utility electricity networks.

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Growth drivers

North America

  • Refurbishment demand for existing grid infrastructure
  • Rising infrastructural spending

Europe

  • Growing deployment of renewable energy
  • Upgradation of existing grid network

Asia Pacific

  • Large-scale renewable integration
  • Increasing demand for electricity

Middle East and Africa

  • Increasing demand for electricity
  • Growing investment toward expansion of distribution networks

Industry pitfalls & challenges

Growing rural electrification demand across Africa & Asia Pacific favored by rising fund flow by financial organizations including the Asian Development Bank (ADB) and World Bank will nurture the instrument transformer market size. Refurbishment of power grids across warfare nations including Sudan, Syria and Iraq will further augment the industry growth. Furthermore, large scale grid integration across renewable energy deployments along with ongoing expansion of transmission and distribution networks to ensure security of supply concerns will further complement the business outlook.

U.S. market is anticipated to observe growth on account of rising demand for the refurbishment of conventional grid infrastructure coupled with ongoing expansion of efficient transmission and distribution grid networks. The transformer industry has observed substantial growth owing to positive regulatory measures in association to grid stability and energy efficiency. Furthermore, ongoing trends pertaining to the establishment of renewable energy technologies in line with rapidly enhancing control and monitoring technologies will complement the industry landscape.

High-scale industrial establishment in line with ongoing depolyment of smart transformer units to endure an efficient demand side management will augment the Europe market share. Strict energy efficiency norms have compelled manufacturers to drift their focus towards the development of cost competitive and efficient transformer units. Furthermore, ongoing deployment of sustainable networks to support the rising energy demand will complement the business dynamics.

Leading global market participants include Siemens, ABB, General Electric, Schneider Electric, Toshiba, Amran, Bharat Heavy Electricals Limited, CG, Celme, Raychem RPG, Eaton, Instrument Transformer Equipment Corporation, TRENCH, Mitsubishi Electric and Mehru.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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