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**************************************************************************** Instrument Transformer Market Key Players are ABB, GE, Eaton, Schneider Electric, Siemens, Crompton Greaves, Mitsubishi Electric, Toshiba, BHEL, Raychem RPG, ITEC, ITL

08-16-2018 03:08 PM CET | Energy & Environment

Press release from: Global Market Insights, Inc.

Instrument Transformer Market

Instrument Transformer Market

In the recent times, instrument transformer market has witnessed a meteoric rise in its revenue graph, courtesy the rising demand for electricity owing to the exponential pace of urbanization, swift technological advancements to assist an energy-efficient and sustainable grid network, growing inclination toward clean energy with massive investments in the renewable sector coupled with various government initiatives to electrify rural hinterlands across the globe. To note a few remarkable instances of government initiatives, the Indian government has resolved to provide electrical connections to over four crore households in the rural and urban areas by the end of 2018.

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The scheme, named as Pradhan Mantri Sahaj Bijli Har Ghar Yojana ‘Saubhagya’, aims to provide 24×7 electricity to the unserved and underserved hinterlands along with the neglected urban pockets. Citing yet another instance, the government of France has announced an enormous investment of USD 30 Billion toward its energy adaptation plan that aims to endorse clean vehicles production and energy efficient distribution system. Apparently, the aforementioned instances of ambitious and dynamic initiatives undertaken by various governments across the globe have emerged as the principal driving force to boost the growth potential of instrument transformer market, which commanded a total valuation of over USD 3 Billion in 2016.

The leading instrument transformer market giants have been striving to come up with a range of innovative products to fulfill the burgeoning demand for energy-efficient transformers and to remain competitive in this highly combative business sphere. The existing power grids transmit energy over short distances from power stations to customers. However, the future grids would need to provide energy to major urban areas from offshore wind and solar farms with a price competitive enough for electricity traders.

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To tackle the challenge of the transition to a new energy mix while enhancing the existing power grid infrastructure, Siemens AG, the leading German conglomerate partaking in instrument transformer industry, has built the world’s first dynamic grid control center with its partner entities. The new facility, named as ‘DynaGridCenter’ research project would aim to ascertain the extent to which existing technologies, utilized in control centers, can accommodate new structures and functions of future power grids. Such bold instances of ingenuity consequentially would steer the growth progression of the instrument transformer market over the forthcoming years.

Speaking of the product spectrum of the instrument transformer industry, the oil immersed transformer led the overall business sphere accounting for over 50% of the global industry share in 2016. Its ease of deployment across high-voltage applications coupled with modest cost is bound to further escalate its requirement across diverse sectors, which would further contribute to the instrument transformer industry growth.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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Email: sales@gminsights.com
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