Global Instrument Transformer Market, to grow at CAGR of 2.1% during the forecast period
Pune, India, April 17, 2018 /MRFR Press Release/- The Instrument Transformer market is expected to grow with the CAGR of around 2.1% during the period 2018 to 2023.
Instrument transformers are electrical devices used to transform or isolate current or voltage levels with high accuracy. They are used in AC systems for measurement of electrical parameters such as current, voltage, energy, power factor, and frequency. These transformers are developed by making use of premium grade materials like copper wires terminal blocks and electrical steel lamination. Currently, the instrument transformer market is in the growth stage. Increase in power consumption across the globe drives the growth of the market. Due to the development of the countries and the improvement in the standard of living, there is a higher demand for energy consumption. Hence, many countries around the world are expanding and upgrading their electric grid infrastructure, so as to fulfil the growing demand of power and margining of grid to form inter grid connection. These developments are expected to provide vital groundwork for instrument transformer market. However, high capital cost of transformer may hamper the growth of the market. As the raw material prices for transformer across the globe vary according to their availability, it is certainly an important factor for the pricing of the transformer. Transformer is manufactured through precise engineering done over earthy metals. The manufacturer, usually procures the raw material through various vendors, who price them according to the market demand. Thus it can be stated that all these primary factors will restrain the growth of transformer market.
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).
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The pipeline monitoring systems market is expected to grow during the forecast period owing to increase in number of oil & gas leakages in production, pipelines, and storage tanks caused by the natural disasters and high pressure in the pipelines. The introduction of stringent government regulations for pipeline safety and security and the rapid expansion and up gradation of pipelines is further contributing to the growth of the market. The growth of pipeline monitoring systems is further contributed by the development of new devices and solutions for the monitoring of pipeline performance, optimization of resources, automating the functions, and safeguarding the operations.
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Market Research Analysis
Global instrument transformer market has been segmented based on rating, Enclosure Type, end-user and region. Based on rating, instrument transformer market has been divided into distribution voltage, sub-transmission voltage, high voltage transmission and extra high voltage transmission. Distribution voltage is expected to be the fastest growing rating segment of the market.
Based on end-user, instrument transformer market has been segmented into Power Utilities, Industries & OEMS, and Others. Power Utilities accounted for the largest market share. Utility sector defines a category of stocks of utilities such as power generation plants. The sector contains companies such as electric, gas and water firms, and integrated providers. Because utilities require significant infrastructure, these firms require heavy electrical equipment for efficient performance and production of the energy. The global growth in the conventional and non-conventional power plants are creating a huge scope for the transformer market development. Industrial transformer acts as a power transmission and distribution equipment in the utility sector, which step-up or set-down the current voltage as per the end-user requirement.
Table of Content
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat of New Entrants
3.1.2 Bargaining power of buyers
3.1.3 Bargaining power of suppliers
3.1.4 Threat of substitutes
3.1.5 Segment rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
The report for Global Instrument Transformer Market of Market Research Future comprises extensive primary research findings along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain deeper insight into the market and industry performance. The report gives a clear picture of current market scenario, which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides detailed information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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