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Instrument Transformers (Current, Potential, and Combined Instrument Transformers) Market 2018 – Global Forecast to 2022 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The "Instrument
Transformers Market by Type (Current, Potential, and Combined Instrument
Transformers), Enclosure Type (Indoor and Outdoor), Dielectric Medium
(Solid, Liquid, and SF6 Gas), Voltage, Application, End-User & Region –
Global Forecast to 2022"
report has been added to ResearchAndMarkets.com's
offering.

The global instrument transformers market is projected to reach a market
size of USD 9.06 Billion by 2022, growing at a CAGR of 4.35%, from an
estimated USD 7.32 Billion in 2017.

The global market is set to witness a significant growth due to
increasing emphasis on alternative energy production across the globe,
refurbishment of aging infrastructure, and huge investments in smart
grids and energy systems. Although some cost bearing constraints in the
installation of instrument transformers are being observed, still
emerging economies are expected to create better opportunities for the
instrument transformers market. The delay in grid expansion is expected
to be a major challenge for the growth in the instrument transformers
market.

With regards to the voltage segment, the distribution voltage segment is
expected to constitute the largest market by 2022. The distribution
voltage has been considered between 0.72 kV and 36 kV in this report.
The main application of instrument transformers is to offer electrical
protection against overload currents, insulation failure, and emergency
switching for residential and commercial infrastructures.

The instrument transformers market is projected to grow at a fast pace
in the Middle East. This region is undergoing rapid electricity
infrastructure development to maintain the demand-supply balance.
Moreover, countries such as the UAE are investing heavily in
diversifying their energy mix and are trying to tap into renewable
sources. Qatar is set to be the host of the FIFA World Cup 2022 and the
country needs to upgrade its infrastructure. The process of upgradation
would create substantial opportunities for the suppliers of instrument
transformers.

Some of the prominent players in the power quality equipment market
include ABB (Switzerland), Siemens (Germany), Schneider Electric
(France), and GE (US).

Market Dynamics

Drivers

  • Rise in Alternative Energy Programs
  • Refurbishment of the Aging Power Infrastructure
  • Huge Investments in Smart Grids And Energy Systems

Restraints

  • Increasing Competition from the Unorganized Sector of the Instrument
    Transformer Market

Opportunities

  • Increasing Investments in the Transmission & Distribution
    Infrastructure
  • Expanding Cross-Border Electricity Trade
  • Adoption of the Hvdc Technology for Long Distance Transmission

Challenges

  • Delays in Grid Expansion Projects

Companies Mentioned

  • ABB
  • Arteche
  • Bhel
  • CG Power
  • Emek
  • GE
  • Indian Transformers Company
  • Instrument Transformer Equipment
  • Koncar-Instrument Transformers
  • Mitsubishi Electric
  • Nissin Electric
  • Pfiffner Instrument Transformers
  • Ritz Instrument Transformers
  • Schneider Electric
  • Siemens

For more information about this report visit https://www.researchandmarkets.com/research/c6wrtp/instrument?w=4

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Topics: Electricity