This growth is primarily due to the increasing emphasis on alternative energy production, refurbishment of aging infrastructure, and huge investments in smart grids and energy systems across the world.
The global instrument transformers market was valued at USD 7.14 Billion in 2016 and is projected to reach USD 9.06 Billion by 2022, at a CAGR of 4.35% during the forecast period.
The global instrument transformers market was valued at USD 7.14 Billion in 2016 and is projected to reach USD 9.06 Billion by 2022, at a CAGR of 4.35% during the forecast period.
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, and Region
The global smart transformers market was valued at USD 1.25 Billion in 2016 and is projected to reach USD 2.43 Billion by 2022, at a CAGR of 10.54%, from 2017 to 2022.
Instrument Transformers Markey Projected to reach $9.06 billion by 2022 | Key players include ABB (Switzerland), Siemens (Germany), Schneider Electric (France), and GE (US)
The report segments the instrument transformers market, by end-user, into power transmission utilities, power distribution utilities, power generation, railways and metros, and industries and OEMs.
This growth is primarily due to the increasing emphasis on alternative energy production, refurbishment of aging infrastructure, and huge investments in smart grids and energy systems across the world.