Instrument Transformer Market share in 2018 exceeded yearly installation of 1’000 thousand units and is anticipated to surpass USD 8 billion by 2025. Smart monitoring products adoption along with ongoing development across smart grid electricity networks will complement the industry dynamics.
Eminent industry players have perpetually been investing towards the development of cost-effective and energy efficient products. Moreover, enhancing equipment precision to ensure the regular voltage and current volatility across sustainable power systems will augment the business outlook.
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In the recent years, current transformers have gained significant upsurge on account of their attributes to integrate high primary current into a compact system. Product adaptability towards the measurement & protection of electricity infrastructure coupled with ongoing enhancements to ensure operational feasibility will further stimulate the instrument transformer market share. Furthermore, enhancing product properties have laid substantial grounds for digitalization to integrate effective product configuration will positively influence the industry landscape.
Refurbishment & renovation of existing transmission & distribution networks in line with rising space restrictions have positively influenced the indoor based instrument transformer market. Flourishing real estate sector in line with rapid industrialization across emerging energy countries pave the way for product adoption. Moreover, rampant development of T&D networks across developing energy markets will complement the business landscape.
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≤250 kV-based instrument transformer exceeded USD 900 million in 2018. Significant growth across infrastructure and utility sectors along with rising electricity demand will positively influence the business scenario. Rapid assimilation of smart grid electrical networks in conjunction with grid integration of sustainable technologies will foster the product penetration. In addition, frequent power interruption and network fluctuations across residential & commercial establishments will further complement the technological adoption.
Growing competitive counterparts along with improving end user awareness have augmented the solid insulation-based instrument transformer market growth. Although, effective insulating property, competitive cost structure coupled with flexible product properties are anticipated to boost the product adoption. Paradigm shift from existing technologies through consistent integration of digitized monitoring & control units will further nurture the industry outlook.
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Prominent players across instrument transformer market comprise Mitsubishi Electric, Siemens, Amran, General Electric, ABB, Bharat Heavy Electricals Limited, Schneider Electric, Toshiba, Eaton, CG, Instrument Transformer Equipment Corporation, Celme, TRENCH, Mehru, and Raychem RPG.
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