According to a new report, published by KBV research, The Global Instrument Transformer Market size is expected to reach $10.1 billion by 2031, rising at a market growth of 5.8% CAGR during the forecast period.
The Outdoor segment generated the highest revenue in the Global Instrument Transformer Market by Enclosure in 2023; thereby, achieving a market value of $6.2 billion by 2031. The expansion and modernization of power grids, particularly in emerging economies, often require outdoor instrument transformers for use in substations and distribution networks. The growing infrastructure development drives the demand for outdoor installations.
The Liquid segment is showcasing a CAGR of 5.2 % during the forecast period. Liquid-filled instrument transformers, such as oil-immersed transformers, offer excellent insulation properties. The liquid (usually mineral oil) provides effective insulation between electrical conductors, helping to prevent electrical breakdown and ensuring reliable operation.
The Power Utilities segment is generating the highest revenue in the Global Instrument Transformer Market by End Use in 2023; thereby, achieving a market value of $4.7 billion by 2031. Instrument transformers are essential for accurately measuring voltage and current in power utility systems. They provide critical data needed for monitoring and controlling power distribution and transmission.
The Transformer & Circuit Breaker Bushing segment is registering a CAGR of 5.2 % during the forecast period. Instrument transformers are essential for measuring voltage and current in transformer and circuit breaker bushing systems. Accurate measurements are crucial for monitoring the performance and health of these critical components.
The High Voltage Transmission segment led the Global Instrument Transformer Market by Voltage in 2023; thereby, achieving a market value of $3.2 billion by 2031. Instrument transformers are indispensable for measuring and monitoring electrical parameters, including voltage and current, in high-voltage transmission systems. They provide accurate data necessary for efficiently operating and managing high-voltage networks.
The Current segment is growing at a CAGR of 5.2 % during the forecast period. Current transformers (CTs) are vital for measuring and monitoring electrical currents in power systems. They provide accurate current measurement, which is crucial for protecting, controlling, and monitoring electrical grids and industrial systems.
Full Report: https://www.kbvresearch.com/instrument-transformer-market/
The Asia Pacific region dominated the Global Instrument Transformer Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $4.1 billion by 2031. The North America region is anticipated to grow at a CAGR of 5.1% during (2024 - 2031). Additionally, The Europe region would witness a CAGR of 5.6% during (2024 - 2031).
By Enclosure
By Dielectric Medium
By End Use
By Application
By Voltage
By Type
Unique Offerings 
