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Instrument Transformers Market: Key Drivers and Restraints

In terms of value, the global instrument transformers market is anticipated to expand at a CAGR of 5.5% from 2020 to 2030 and cross a value of US$ 12 Bn by 2030.

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Instrument Transformers Market: Key Drivers and Restraints

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  1. Instrument Transformers Market Forecast, Import-Export, Industry Chain Structure and Development Opportunities 2020-2030 Instrument Transformers Market: Introduction In terms of value, the global instrument transformers market is anticipated to expand at a CAGR of ​5.5%​ from 2020 to 2030 and cross a value of ​US$ 12 Bn​ by 2030. Asia Pacific led the global ​instrument transformers market​ in 2019, in terms of demand. This trend is anticipated to continue between 2020 and 2030. Rise in investment in smart grids, including digitization of substations, smart meters and microgrid technologies, is a key factor that is estimated to boost the global instrument transformers market in the near future. Instrument transformers play a vital role in power distribution and transmission network. The expansion of the renewable power generation capacity across the globe is estimated to drive the global instrument transformers market during the forecast period. Instrument Transformers Market: Key Drivers and Restraints Of late, power generation and distribution companies have been investing significantly in the modernization of grids. According to a study published by the International Society for Performance Improvement (ISPI), global investments in grid technologies, data intelligence, and digital services stood at ​US$ 35 Bn​ in 2018. Smart meters, EV charging stations, and digital substations accounted for the highest growth areas. Rise in investment in modernization of the aging power grid is anticipated to drive the global instrument transformers market. Increase in emphasis on alternative energy production and surge in the cross-border electricity trade across the globe are other trends that are augmenting the demand for

  2. instrument transformers. The installation of new gas insulated substations (GIS) and the renovation of existing air insulated substations (AIS) with GIS are also key factors projected to propel the instrument transformers market during the forecast period. The complexity of activities associated with power transmission and distribution projects, including feasibility studies, project approvals, tendering & contracts, land development, design, foundation work, erection and installation, commissioning, and handover to the operations team, often lead to delay in projects. Delay in grid expansion projects is expected to restrain the global instrument transformers market during the forecast period. Request for Report Sample @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&re p_id=35303 The COVID-19 pandemic is likely to result in further delays in power projects. Governments of countries across the world are imposing new regulations to amend private and public power sector contracts in response to the pandemic. For instance, in March 2020, Brazil's Ministry of Mines and Energy announced the indefinite postponement of its energy generation and transmission auctions. Instrument Transformers Market: Prominent End Users Based on end use, the global instrument transformers market can be broadly classified into power & distribution industry, railways & metros, industrial, commercial, and others. The power & distribution industry is likely to be prime end user of the global instrument transformers market by 2030. Aging energy generation and distribution infrastructure is one of the major challenges faced by developed countries. The implementation of grid modernization initiatives by several economies has resulted in improved grid reliability, resiliency, and system efficiency. Trends such as modernization of power grid, electrification of rural

  3. areas and Tier3 cities, and development of smart cities are expected to boost the demand for instrument transformers in the near future. Explore Transparency Market Research’S Award-Winning Coverage of the Global Industry @ https://www.prnewswire.com/news-releases/increasing-applications-in-industr ial-and-residential-infrastructure-to-help-brass-rods-market-reach-valuation- of-us10-bn-by-2027-find-tmr-report-301009660.html Asia Pacific to be Highly Lucrative Region of Instrument Transformers Market In terms of value, Asia Pacific held more than ​30%​ share of the global instrument transformers market in 2019. China’s early containment of the pandemic is projected to augment the overall power sector in Asia Pacific through 2025. The upcoming railway and metro projects and steady growth in the renewable energy sector in India present immense potential for the instrument transformers market in the near future. Instrument Transformers Market: Competition Landscape Major manufacturers of instrument transformers include ​ABB, General Electric, Schneider Electric SE, ARTECHE, NISSIN ELECTRIC Co. Ltd., and Siemens​. A highly fragmented global instrument transformers market experienced intense competition from the unorganized sector in 2019. This trend is likely to continue during the forecast period. Industry leaders have been consistently investing in technological upgrade of instrument transformer models. For instance, in September 2019, General Electric launched SF6 free high-voltage solutions. The company aims for SF6-free high-voltage substation equipment to include all key high voltage levels by 2025. Request for Covid-19 Impact Analysis @ https://www.transparencymarketresearch.com/sample/sample.php?flag=covid 19&rep_id=35303

  4. About Us Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. Contact Transparency Market Research, 90 State Street, Suite 700, Albany, NY 12207 Tel: +1-518-618-1030 USA - Canada Toll Free: 866-552-3453 Email​: ​sales@transparencymarketresearch.com Website​: ​https://www.transparencymarketresearch.com

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