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Dry Type Current Transformer Market Analysis

  • Report ID: GMI7094
  • Published Date: Oct 2023
  • Report Format: PDF

Dry Type Current Transformer Market Analysis

Dry Type Current Transformer Market Size, by Product, 2021 - 2032, (USD Million)

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Wounded type current transformers dominated the 42% of the market share in 2022 and is projected to register 7.5% CAGR through 2032. As industries, utilities, and infrastructure projects continue to expand, the demand for precise current measurement remains robust. Additionally, safety and environmental concerns drive the transition from oil-filled transformers to dry type alternatives, further bolstering the market for wound type current transformers. Their established reputation for accuracy and performance positions them as a fundamental component in modern electrical systems.
 

 Dry Type Current Transformer Market Revenue Share, By Voltage Rating, 2022

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The ≤ 33 kV segment exceeding a market value of USD 420 million in 2022 and is set to exhibit gains at nearly 7.5% up to 2032, attributed to the surging global demand for electricity along with population growth, urbanization, and industrialization. As nations invest in the expansion and enhancement of their power transmission and distribution networks, the demand for low-voltage dry type CTs is poised to increase. Furthermore, the integration of renewable energy sources like solar and wind power necessitates reliable current measurement and monitoring, and ≤ 33 kV dry type current transformers play a pivotal role in facilitating grid integration and power flow control within renewable energy projects.
 

Asia Pacific Dry Type Current Transformer Market Size, 2021 - 2032, (USD Million)

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Asia Pacific dry type current transformer market is anticipated to surpass USD 400 million by 2032, driven by the ongoing expansion and modernization of energy networks and the increasing imperative for peak load management. The Asia Pacific area is witnessing rapid adoption of smart control and monitoring units, coupled with significant investments in infrastructure across commercial and industrial sectors, all of which will bolster the demand for dry type current transformers. Furthermore, the presence of favorable regulatory policies and norms aimed at enhancing grid reliability and upgrading existing grid networks will contribute to a positive business environment in the region.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market valuation of the dry type current transformer was worth USD 510.4 million in 2023 and is poised to expand at over 8% CAGR from 2024 to 2032, driven by the increasing focus on safety and environmental considerations.

< 33 kV rated dry type current transformer market generated USD 420 million in 2022 and is set to exhibit over 7.5% CAGR from 2023 to 2032, driven by the surging global demand for electricity, propelled by factors such as population growth, urbanization, and industrialization.

Asia Pacific dry-type current transformer market size is projected to reach USD 400 million by 2032, attributed to the surging demand for efficient transmission & distribution (T&D) systems.

Some of the leading dry type current transformer firms are ABB, General Electric, Automatic Electric Ltd., Hitachi Energy Ltd., Instrument Transformers LTD., Siemens Energy, Wenzhou Unisun Electric Co., Ltd., and Dalian Huayi Electric Power Electric Appliances Co.,Ltd,

Dry Type Current Transformer Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 14
  • Tables & Figures: 645
  • Countries covered: 21
  • Pages: 480
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