An instrument transformers is an electrical
device, used to transform or isolate current and voltage levels with high
accuracy. In is used in alternate
current (AC) systems for measurement of electrical parameters for instance
current, power factor, voltage, energy, and frequency. It is also used for
protection of power system using combination of protective relays. Its primary
function is to lower the AC system’s voltage and current.
The key advantages are included reducing cost
of measuring instruments, standardization of measuring instruments, easy
replacement, assuring safety of operators, reducing electrical insulation
requirements for measuring instruments, consumption of less power and provides
multiple connections through a single transformer to power system.
According to study, “Global
Instrument Transformer Market 2019 by Manufacturers, Regions, Type and
Application, Forecast to 2024” the key companies operating in the global
instrument transformer market are ABB Ltd., Arteche, GE, Instrument Transformer
Equipment, Mitsubishi Electric, Pfiffner Instrument Transformers, Schneider
Electric, Ritz Instrument Transformers, Siemens AG, Indian Transformers
Company, BHEL, Konèar-Instrument Transformers, CG Power, EMEK, Nissin Electric.
Based on type, instrument transformer market
is segmented into potential transformers, current transformers and combined
instrument transformers. Potential transformers include capacitive potential
transformers and inductive potential transformers. Current transformers include
closed and wound. Based on winding, market is segmented into auto-transfer and
two-winding. Based on cooling type, market is segmented into oil immersed and
dry type. Oil immersed segment includes water cooled, self-cooled and forced
cool. Dry type includes air blast and self-air. Based on phase type, market is
segmented into single phase and three phase. Based on dielectric medium, market
is segmented into SF6 gas dielectric instrument transformers, liquid dielectric
instrument transformers and soli dielectric instrument transformers. Based on
voltage, market is segmented into high voltage transmission, extra high voltage
transmission, ultra-high voltage transmission, sub-transmission voltage and
distribution voltage. Based on enclosure type, market is segmented into outdoor
instrument transformers and indoor instrument transformers.
Outdoor instrument
transformers segment holds major share in market owing to growth in demand for
long-distance power transmission in developing nations. Based on application,
market is segmented into relaying, transformers & circuit breaker bushing,
metering & protection and switchgear assemblies. In addition, based on
end-user, market is segmented into railways & metros, power generation,
power utilities, industries & OEMs and others. Power utilities are further
sub-segmented into power distribution utilities and power transmission
utilities. Additionally, industries & OEMs are further sub-segmented into
cement, oil & gas, iron & steel, automobiles, chemicals and industrial
machinery.
The instrument transformer market is driven by
growth in investments in smart grids & energy systems, followed by
refurbishment of the aging power infrastructure and rise in alternative energy
programs. However, delays in grid expansion projects and rise in competition
from the unorganized sector may impact the market. Moreover, growth in investments
in the transmission & distribution infrastructure, rise in adoption of the
high voltage direct current (HVDC) technology for long distance transmission
and expand in cross-border electricity trade are key opportunities for market.
Based on geography, the Asian-Pacific region
dominates the instrument transformer market owing to rise in government
initiatives to upsurge power generation capacity using renewable energy
sources, increase in power consumption, and growth in replacement of aging power
plants in the region. Whereas, the European and North-American regions are
expected to exhibit considerable growth rate due to rise in industrial growth,
growth in production of electricity and increase in aging infrastructure, over
the forecast period. In near future, it is projected that the global market
will be reached at faster pace on account of supportive regulatory concerns to
strengthen grid sustainability during the forecast period.
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