Current Transformer Market to Grow at 7.81% CAGR to 2021: Growth Factors & Trends

Market Size Forecasters Added New Report “Global Current Transformer Market 2017-2021” new report to its research database.

Marketsizeforecasters.com adds new global Current Transformer market: report that lists top active companies as ABB, CG, General Electric, Instrument Transformers, and Schneider Electric.

Other Prominent Vendors in the market are: Amran, ARTECHE, CHINA XD, Continental Control Systems, CGS Instrument Transformers, Huayi Electric Apparatus, Hammond Manufacturing, ITEC, KON?AR - ELECTRICAL INDUSTRY, Jiangsu Sieyuan Hertz Instrument Transformer, Meramec Instrument Trasnsformer, Nissin Electric, PFIFFNER Instrument Transformers, RITZ, TBEA, TRENCH, Yokogawa Meters & Instruments, and Zelisko.

Research analysts forecast the global current transformers market to grow at a CAGR of 7.81% during the period 2017-2021.

Request a sample copy of Current Transformer Market Research Report @ https://marketsizeforecasters.com/get-sample/18317

Commenting on the report, an analyst team said: One trend in market is innovative technologies. Top quality electrical equipment - such as the next generation of ABB instrument transformers - are the creations of highly refined manufacturing processes. Such products are the outcome of a modern design process that fuses electrical and mechanical features and uses high quality insulation materials. The use of advanced simulation software helps engineers to develop new products without the need to invest in significant prototyping expenses. Prominent vendors, such as ABB, uses Ansoft's Maxwell 3D electrostatic simulation software to design and create its instrument transformers. The Maxwell 3D program works by calculating the electric field stress distribution on the surface and inside the cast electrical device. The program optimizes the casting process and the associated parameters and maps the mechanical stresses and strains that develop inside the casting. Field stress distribution is derived by considering the dielectric properties of the material.

The listed pricing for this Current Transformer Market report starts at $ 3500.
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According to the report, one driver in market is enhanced accuracy of current transformers at extremely low current levels. Independent power producers (IPPs) are causing changes in the overall power flow. This, when coupled with the rising need for precise measurement even at low current levels, has generated the demand for newly designed current transformers to cater to the needs of end-users. Current transformer designers and manufacturers have been able to achieve accuracy levels that are efficient enough to perform in extremely low current situations, regardless of factors like the availability of wind turbines or the required wind speed. This helps the wind farms to generate higher revenue even when low levels of power are generated. The designs of the contemporary current transformers have improved drastically and offer high levels of accurate and reliable performance. They have also been successful in surpassing the level of optimal performance as defined by the traditional IEEE C57.13/CSA C60044 industry standards, governing the designing, manufacturing, and testing of current transformers. Also, modern current transformers can be conveniently interfaced with the existing on-field equipment.

Further, the report states that one challenge in market is high cost of upgrading distribution networks and weak financial health of distribution sector. The cost of upgrading smart grid systems includes additional costs, such as the cost of replacement of transmission lines, distribution systems, power delivering systems, substation digitization, and digital controls. Consequently, power utilities and IPPs face the prospect of huge initial capital investment. It is anticipated that the cost of smart grid technology deployment in the US will range in the billions of dollars over the next 20 years, because of the aging power infrastructure and the increased need for renewable power grid integration. In addition, power utilities are reluctant to upgrade their power grids to make them compatible with smart grid solutions because of the high costs involved. Consequently, various smart grid solutions are becoming a high-pressure selling product among power utilities. This is projected to have a significant impact on the growth of the global smart grid T&D equipment market and, in turn, may impact the instrument transformer market as well.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

Browse full table of contents and data tables For Current Transformer Market Report of 70 pages https://marketsizeforecasters.com/global-current-transformer-market

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