About Instrument Transformers
Instrument transformers are high accuracy class electrical devices used to isolate or transform voltage or current levels. The most common usage of instrument transformers is to operate instruments or metering from high voltage or high current circuits, safely isolating secondary control circuitry from the high voltages or currents. Instrument transformers are highly adopted by end-users to meet the global demand of grid stability. These transformers are widely utilized in AC systems to measure various parameters like voltage, current, power factor, etc. It consumes low power in metering circuit and very easy to replace.
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The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Instrument Transformers market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ABB Ltd. (Switzerland), RITZ (Germany), Arteche (Spain), Meremac (United States), GEC Durham (United States), General Electric (United States), Koncar (Croatia), Schneider Electric (France), Siemens (Germany), Eaton Corporation (Ireland) and Trench Group (Canada) are some of the key players that are part of study coverage.
AMA Research has segmented the market of Global Instrument Transformers market by Type (Current Transformers and Voltage Transformers), Application (Bushing, Commercial, Switchgear Assemblies, Relaying and Metering and Protection) and Region.
On the basis of geography, the market of Instrument Transformers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Voltage, the sub-segment i.e. Distribution Voltage will boost the Instrument Transformers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-user, the sub-segment i.e. Energy & Utilities will boost the Instrument Transformers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Evolution of Low-Power-Output Current and Voltage Transformers and Magneto-Optic Current and Voltage Transducers
Market Growth Drivers:
Increasing Demand for Electricity With the Growing Concern of Grid Stability and The Rapid Development of Smart Grids and Increasing Adoption to Standardize the Instrument around Their Ratings
The Transformers Can Have Errors from Excitation Losses Or Non-Linearity
The Instrument Transformers Can Be Used Only for AC Circuits
Government Initiatives towards the Electrification in Rural Areas
Market Leaders and their expansionary development strategies
IN April 2018, Power Grid Components, Inc. announced the acquisition of North Carolina-based Instrument Transformer Equipment Corporation (“ITEC”). ITEC is a leading manufacturer of dry molded and oil-filled instrument transformers that are used in several critical applications, including revenue metering, protective relaying, and station power. The acquisition will expand Power Grid’s product portfolio and bring added resources to allow the company to grow and achieve our strategic goals.
In June 2021, Hitachi ABB Power Grids launched new transformers for floating offshore wind power. Transformers are designed to overcome the challenging offshore environment and withstand the physically demanding conditions on floating structures. The portfolio will enable much greater volumes of wind to be efficiently harvested and integrated into the global energy system, directly supporting the transition to a sustainable energy future.
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Instrument Transformers Manufacturers, Suppliers and Distributors of Instrument Transformers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-users and Others
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.