Over the next five years the instrument transformer market will register a 6.9% CAGR in terms of revenue, the global market size will reach $5.51 billion by 2024, from $3.69 billion in 2019 according to Garner Insights report.
The global consumption of instrument transformer products rose up from 3.01 million units in 2013 to 4.03 million units in 2017, with an average annual growth rate of 7.59%. At the same time, the revenue of world instrument transformer sales market rose from $2.94 billion to $3.68 billion. The most of market share in revenue is grasped by the top three manufacturers, Siemens, ABB and GE, which closes to 50 per cent in total. Siemens, which had 21.63% market share in 2017, is the leader in the instrument transformer industry. The manufacturers following Siemens are ABB and GE, each having 12.80% and 14.93% global market share respectively. The DYH is the leader of China instrument transformer industry. It sells a total of $186 million instrument transformer products in 2017.
Global instrument transformer market by region: America (United States, Canada, Mexico, Brazil), APAC (China, Japan, Korea, Southeast Asia, India, Australia), Europe (Germany, France, UK, Italy, Russia, Spain), Middle East & Africa (Egypt, South Africa, Israel, Turkey).
The key manufacturers covered in this report: Siemens, ABB, GE, Arteche, Pfiffner, Emek, Indian Transformers, Koncar, DYH, Dalian Beifang, China XD Group, Jiangsu Sieyuan, Shenyang Instrument Transformer, Hengyang Nanfang, Zhejiang Horizon.
Source: Garner Insights