Current Transformer Market Information, Figures and Analytical Insights 2018? 20

Posted by vakhas on January 15th, 2019

Global Current Transformer Market: Overview

Global market of current transformer is anticipated to have lucrative growth opportunities with a higher digit CAGR in the forecast period. The current transformer is an instrument transformer which has constant current supply that caters to alternating current through its secondary windings that is relative to the primary current.

Current transformers cuts down high voltage current to safe level and caters a convenient way of supervising AC flow of current using an ammeter. With the increasing demand for new transformers across the globe, the market for current transformer is experiencing high demand. Current transformers have added an advantage of grid monitoring, coupled with diagnostic solutions, is gaining massive uplift because of the growing demand for electrification around the globe.

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Increased demand for electricity in developing countries and enhanced accuracy of current transformers to drive global current transformer market

With the growing industrial development and commercialization in the developing countries, which is the primary driving force to the current transformer market as the demand for electricity power in Asia Pacific countries is increasing. The increasing industrialization has a direct effect on the residential sectors and commercial sectors, which, in turn, provides lucrative growth opportunities for current transformers in the developing countries.

With a high concern with up gradation of old transformers with new transformers has increased demand for current transformers in the global market. Current transformer manufacturers have been able to achieve high accuracy levels that are efficient to perform in low current regardless of the factors, such as wind power generation with optimum wind speed. This factors holds strong grip in the wind farms to generate high revenue even when low levels of power is generated. With limited number of sales channel and weak distribution channels may hinder global current transformer market.   

Global Current Transformer Market: Segmentation

Global current transformer market is segmented by product type, end-use application and by region. By product type current transformer market is segmented as wound current transformer, toroidal current transformers and bar type current transformers. By end-use application, global current transformer market is segmented as commercial sector, industrial sector, residential sector and others. By region, global current transformer market is segmented by North America, Latin America, Europe, CIS and Russia, APEJ, Japan and MEA.