Instrument Transformer Market To Hit USD 12.08 Billion By 2032 Driven By Grid Modernization And Renewable Energy Integration | Research By SNS Insider

(MENAFN- GlobeNewsWire - Nasdaq) The Instrument Transformer Market is growing with demand for accurate measurement and protection in power transmission and distribution.

Austin, March 03, 2025 (GLOBE NEWSWIRE) -- Instrument Transformer Market Size & Growth Insights:

According to the SNS Insider,“the Instrument Transformer Market was valued at USD 7.21 billion in 2023 and is projected to reach USD 12.08 billion by 2032, growing at a CAGR of 5.94% during the forecast period of 2024-2032.”

The market is witnessing significant growth due to increasing demand for high-voltage power transmission, expansion of renewable energy projects, and advancements in power infrastructure.

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Leading Market Players with their Product Listed in this Report are:

• Arteche Group (Current Transformers, Voltage Transformers)
• Trafag AG (Pressure Transmitters, Gas Density Monitors)
• Gemini Instratech Ltd. (Resin Cast Instrument Transformers, OIP Insulated Instrument Transformers)
• Megger Group Limited (Insulation Testers, Time-Domain Reflectometers)
• Transformers and Electricals Kerala Limited (TELK) (Power Transformers, Current Transformers)
• China XD Group (High Voltage Switchgear, Power Transformers)
• Siemens Energy (Gas-Insulated Switchgear, Instrument Transformers)
• Hitachi Energy (Gas-Insulated Switchgear, Instrument Transformers)
• GE Vernova (Power Transformers, Instrument Transformers)
• ABB (Current Transformers, Voltage Transformers)
• Schneider Electric (Protection Relays, Instrument Transformers)
• Eaton Corporation (Current Transformers, Voltage Transformers)
• CG Power and Industrial Solutions Limited (Power Transformers, Instrument Transformers)
• Nissin Electric Co., Ltd . (Gas-Insulated Switchgear, Instrument Transformers)
• Končar Group (Power Transformers, Instrument Transformers).

Instrument Transformer Market Report Scope:

Report Attributes	Details
Market Size in 2023	USD 7.21 Billion
Market Size by 2032	USD 12.08 Billion
CAGR	CAGR of 5.94% From 2024 to 2032
Report Scope & Coverage	Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segmentation	. By Type (Current, Potential, Combined) . By Dielectric Medium (Liquid, SF6, Solid) . By Enclosure (Indoor, Outdoor) . By Voltage (Distribution Voltage, Sub-transmission Voltage, High Voltage Transmission, Extra High Voltage Transmission, Ultra-High Voltage Transmission) . By Application (Transformer & Circuit Breaker Busing, Switchgear Assemblies, Relaying, Metering & Protection, Primary Metering Units) . By End Use (Power Utilities, Power Generation, Railway & Metros, Industries & OEM)
Key Drivers	. Rising Electricity Demand and Smart Grids Fuel Instrument Transformer Market Growth. . Urbanization and Smart Grid Adoption Drive Instrument Transformer Market Growth.

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Key Industry Segmentation Analysis

By Type – Current Transformers Dominate, While Combined Transformers Grow Fastest

The current transformer segment dominated the market and accounted for significant revenue share in 2023, driven by their utilization in numerous industrial and utility applications for accurate current measurement and protection of circuits. Increase in transmission networks deployment across high-voltage applications is expected to propel the segment growth.

The combined transformer is expected to grow at the fastest CAGR over the forecast period. Combined Current and Potential Transformers form a single unit with a higher level of efficiency as well as low installation cost suitable for modern grid applications.

By Dielectric Medium – Liquid-Insulated Transformers Lead, While Solid-Insulated Transformers Show Rapid Growth

The liquid-insulated instrument transformer segment dominated the market and represented significant revenue share in 2023, owing to its excellent cooling properties, long service life, and reliability involving high-voltage applications. They are widely used in substations and power plants.

The solid-insulated transformer segment is anticipated to witness the fastest CAGR. Recent improvements in solid-state insulations make these transformers safer, more environmentally friendly and easier to maintain, and this is propelling their increasing usage in the Earth, Wind and Human infrastructure and renewable initiatives.

By Enclosure – Outdoor Transformers Dominate, While Indoor Transformers Expand Rapidly

In 2023, the outdoor instrument transformers segment dominated the market and accounted for the major share of the instrument transformers market owing to high-voltage transmission network and substations. The transformers can endure extreme environmental conditions, therefore, they play a vital role in grid reliability.

The indoor instrument transformer segment is expected to register the fastest CAGR during the forecast period, owing to increasing need of compact and area efficient power configurations in commercial & industrial facilities. Demand for indoor transformers is further fuelled by the development of smart buildings and automation in industrial sectors.

Regional Outlook

In 2023, Asia Pacific contributed the largest market share, as the region is fueled by rapid industrialization, urbanization, and extensive development of power infrastructure. The growing need for smart grids and renewable energy projects in countries like China, India, and Japan has made huge investments, creating significant demand for instrument transformers.

The North America is expected to register the fastest CAGR during the forecast period. Another contributing factor driving the market is the increasing adoption of smart grid technologies, digital substations, and expanding EV charging networks across the globe. Power infrastructure upgrades are significantly being made by the US and Canada, and the transition towards alternative energy sources is fuelling a demand for instrument transformers that come with advanced monitoring capabilities.

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Recent Developments in 2024

• February 2024: Siemens Energy announced the launch of a next-generation digital instrument transformer designed for high-voltage applications, improving grid reliability.
• January 2024: ABB introduced an AI-powered instrument transformer monitoring system to enhance power efficiency and reduce maintenance costs.
• March 2024: Schneider Electric collaborated with a leading power utility in North America to develop advanced instrument transformers for smart grid deployment.

T able o f Contents - Major Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

5.1 Application-Specific Demand

5.2 Technology Adoption Rate

5.3 Operational Efficiency Metrics

5.4 Competitive Advantage Metrics

6. Competitive Landscape

7. Instrument Transformer Market Segmentation, by Type

8. Instrument Transformer Market Segmentation, by Dielectric Medium

9. Instrument Transformer Market Segmentation, by Enclosure

10. Instrument Transformer Market Segmentation, by Voltage

11. Instrument Transformer Market Segmentation, by Application

12. Regional Analysis

13. Company Profiles

14. Use Cases and Best Practices

15. Conclusion

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