Global Instrument Transformers Market is valued approximately USD 8.10 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.35 % over the forecast period 2020-2027. Instrument Transformers are electrical appliances that are used to isolate or alter current or voltage levels with very high accuracy. They are used in AC systems for measurement of electrical parameters such as frequency, current, power factor, voltage and energy. The primary function of the instrument transformer is to lower the AC system's voltage and current. Also, this transformer is capable of withstanding high levels of stress in all climatic conditions. Also, the key players are focusing on strategies such as product launch, innovation and merger & acquisition to sustain themselves amidst fierce competition. The growth of the market is attributed owing to the rise in alternative energy programs, huge investments in smart grids and energy systems, refurbishment of the aging power infrastructure. As per the Chinese government, government plans to construct three major transmission lines, each expected to reach 20GW of transmission capacity by 2020. Under the project named West-East Electricity Transfer Project, this project would offer flexibility and increase system wide generation capacity to meet the electricity shortage in China. In 2015, the government of China invested funds of around USD 101 billion and these funds are dedicated to developing smart grid technology. As a result, the demand for instrument transformer would increase due to the growing interest towards rural electrification in line with the renovation of the existing grid network owing to a favor towards incorporating an efficient protection and monitoring mechanisms. However, complex integrated systems, lack of a skilled workforce along with the lack of infrastructure are some forced that are hampering the growth of this market.

The regional analysis of global Instrument Transformers market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region due to the government initiatives to increase power generation capacity using renewable energy sources, increased power consumption, and replacement of aging power plants. Whereas Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.

Major market player included in this report are:
ABB Group
Siemens Ltd.
General Electric Company
Crompton Greaves Ltd
Toshiba Corporation
Hyundai Heavy Industries Co., Ltd
Mitsubishi Electric Corporation
Hyosung Corporation
Bharat Heavy Electricals Limited
Rakesh Transformer Industries Pvt. Ltd

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Enclosure Type:
Indoor Transformers
Outdoor Transformers
By Rating:
Distribution Voltage
Sub-Transmission Voltage
High-Voltage Transmission
Extra- High Voltage Transmission
Others
By End-users:
Power Utilities
Industries & OEMS
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2017, 2018
Base year - 2019
Forecast period - 2020 to 2027

Target Audience of the Global Instrument Transformers Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors