Persistence Market Research has made available a new market research study on the global high-voltage instrument transformer market for the forecast period 2017-2025.
According to the report, increased demand for electricity from emerging economies, such as countries in South East Asia and increased focus on power generation and distribution are propelling demand for HV instrument transformers.
These transformers provide optimum quality electricity by reducing losses, which is a major factor driving their growth globally.
Moreover, the average life span of high-voltage instrument transformers will translate to an increased replacement rate, which will propel the HV instrument transformers market.
However, these transformers also pose certain limitations, such as their limited core volume for current measuring and their compatibility with AC current only. These limitations can act as restraints to the HV instrument transformer market and may hamper growth.
Asia Pacific holds a major share of the global HV instrument transformers market, followed by North America and Europe. Asia Pacific accounts for a significant share, due to the substantial growth in electricity consuming sectors in this region. Rapid urbanization and industrialization in many major countries in the region, such as China and India is also expected to boost the market growth of HV instrument transformers over the forecast period.
The key industry players profiled in the report include ABB, General Electric, Siemens, Končar - Electrical Industry Inc., Indian Transformers, EMEK Electrical Industry Inc., PFIFFNER Instrument Transformers Ltd., Arteche, TBEA, Xian Xd Transformer Co., Ltd., Shandong Taikai Power Engineering Co. Ltd., Siyuan Electric Co. Ltd., Hengyang Nanfang Instrument Transformer Co. Ltd. and Shenyang Instrument Transformer.
Source: Persistence Market Research