Allied Market Research published a new report, titled, Instrument Transformer Market generated $7.0 billion in 2020, and is projected to reach $13.0 billion by 2030, witnessing a CAGR of 6.5% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Rise in alternative energy programs, refurbishment of the aging power infrastructure, and huge investments in smart grids & energy systems drive the growth of the global instrument transformers market. However, increasing competition from the unorganized sector restrains the market to some extent. On the other hand, surge in investments in the transmission & distribution infrastructure and adoption of the HVDC technology for long distance transmission present new opportunities in the upcoming years.
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Growth in interest toward rural electrification in line with renovation of existing grid network are expected to favor toward authorities to incorporate an efficient protection and monitoring mechanism. Thus, rise in grid complexities across electric infrastructure in conjunction with emerging peak electricity demand from end-users foster the market growth.
However, rise in competition from the unorganized sector of the instrument transformer market is expected to hamper growth of the instrument transformers market during the forecast period. Furthermore, rise in investments in transmission & distribution infrastructure is expected to provide growth opportunities for the market during the forecast period.
The research offers a detailed segmentation of the global Instrument Transformer market. Key segments analyzed in the research include Type, Voltage, Application, End Use Industry, and Region. Extensive analysis of sales, revenue, growth rate, and market share of each segment, and geography for the historic period and the forecast period is offered with the help of tables.
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Region-wise, the global instrument transformers market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for a major instrument transformers market share in 2020, owing to increased power consumption, government initiatives to increase power generation capacity using renewable energy sources, and replacement of aging power plants are expected to drive the market in the region. The Asia-Pacific dominated the global market with more than two-fifths of the total market share in 2020.
The market player positioning segment provides an understanding of the current position of the market players active in the Instrument Transformer industry.
The research offers an extensive analysis of key players active in the global Instrument Transformer industry. Detailed analysis on operating business segments, product portfolio, business performance, and key strategic developments is offered in the research. Leading market players analyzed in the report include ABB, General Electric, Schneider Electric, Siemens, CG Power and Industrial Solutions Ltd, Mitsubishi Electric Corporation, Instrument Transformer Equipment Corporation, Arteche, Nissin Electric, and Bharat Heavy Electrical Limited. These players have adopted various strategies including expansions, mergers & acquisitions, joint ventures, new product launches, and collaborations to gain a strong position in the industry.
Get detailed COVID-19 impact analysis on the Instrument Transformer Market Request Here
Covid-19 Scenario:
Governments of various countries have restricted movement of goods & individuals and halted operations of production facilities as part of measures to limit spread of the COVID-19 pandemic. This has hampered consumption of electricity across the world. For instance, according to the short-term outlook of the U.S. Energy Information Administration (EIA), electricity consumption in the U.S. is expected to decrease by a record 4.6% by the end of 2020, as businesses have shut down temporarily due to government lockdowns to reduce spread of the coronavirus. Hence, owing to this demand and production of instrument transformers across the globe is expected to decline.
Key offerings of the report:
- Key drivers & Opportunities: Detailed analysis on driving factors and opportunities in different segments for strategizing.
- Current trends & forecasts: Comprehensive analysis on latest trends, development, and forecasts for next few years to take next steps.
- Segmental analysis: Each segment analysis and driving factors along with revenue forecasts and growth rate analysis.
- Regional Analysis: Thorough analysis of each region help market players devise expansion strategies and take a leap.
- Competitive Landscape: Extensive insights on each of the leading market players for outlining competitive scenario and take steps accordingly.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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