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Current Transformer Market Trends

  • Report ID: GMI3717
  • Published Date: Jul 2023
  • Report Format: PDF

Current Transformer Market trends

Digital current transformers (CTs) are gaining popularity due to their enhanced accuracy, communication capabilities, and advanced features. These CTs provide digital outputs, allowing seamless integration with digital control systems, smart grids, and IoT-based monitoring platforms. The transition from traditional analog CTs to digital CTs is driven by the demand for more precise measurements, real-time data analysis, and remote monitoring capabilities. The development and deployment of smart grid systems require accurate current measurement and monitoring at various points in the grid. Current transformers play a vital role in smart grid applications, enabling load monitoring, fault detection, and power quality analysis.

 

The integration of current transformers with intelligent devices and communication protocols supports the efficient management of electricity distribution networks. Furthermore, increasing awareness of energy efficiency and power quality issues is driving the demand for advanced current transformers. Utilities and industries are seeking highly accurate CTs capable of measuring low currents and harmonics. Precise current measurement helps in optimizing energy consumption, identifying inefficiencies, and maintaining power quality standards.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of current transformer was valued at around USD 2.1 billion in 2023 and is estimated to reach over USD 3.9 billion by 2032, backed by the rising global demand for electricity, driven by population growth, urbanization, and industrialization.

The bar type segment of current transformer market crossed USD 550 million in 2022 and will continue to witness high demand, primarily driven by extensive product application in power plants, electricity grids, control rooms, and switchgears for protection and metering purposes.

Asia Pacific market for current transformer is anticipated to surpass USD 1.8 billion by 2032, on account of the increasing demand for effective Transmission & Distribution (T&D) systems.

Schneider Electric, General Electric, Siemens Energy, ABB, Eaton Corporation, Hitachi Energy Ltd., Circutor, Littelfuse, Inc., CG Power & Industrial Solutions Ltd., and Instrument Transformers Ltd. among others.

Current Transformer Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 815
  • Countries covered: 19
  • Pages: 590
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