The key players in the global instrument transformer market: ABB, Crompton Greaves, GE, ITL, and Schneider Electric Other prominent vendors in the market are: China XD Group, Huayi Electric Apparatus, Jiangsu Sieyuan Hertz Instrument Transformer, Nissin Electric, and TBEA
Global Instrument Transformer Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The analysts forecast the global instrument transformer market to grow at a CAGR of 7.81% during the period 2016-2020.
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An analyst said that the incorporation of fuses in voltage transformers is one the key trends in this market. Primary fuses are used to disconnect faulty electrical transformers from the electricity grid in the event of an internal failure in the transformer. Such failure mainly stems from voltage overloads or short circuits. These disruptions include partial short circuits in the primary winding inside the transformer and secondary short circuits. The utility of primary fuses lies in the fact that they help to provide uninterrupted electrical services to customers even when a voltage transformer fails to complete its designated functions. However, primary fuses may never need to operate since modern transformer devices are designed and constructed to exacting standards. Such devices are far more reliable than older generations of transformers.
According to the report, one of the main drivers promoting growth for this market is the modernization of existing transformers. The increase in installation activities with respect to new transformers and the replacement of old transformers with new ones are impacting the growth of the global transformer monitoring solutions market. In India, the central government is funding the states under the Accelerated Power Development and Reforms Programme (APDRP) scheme to help state electricity boards reduce losses.
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The report covers the present scenario and the growth prospects of the global instrument transformer market for 2016-2020. To calculate the market size, this industry research report provides a detailed explanation of the market on the basis of power transformers and switchgears.
Further, the report states that India is highly dependent on electrical equipment imports. The growing demand for power has led to the development of large transmission and distribution projects in India. Though India has a huge scope for T&D investments, the R&D spending is less than 1% of sales compared to 6% of sales by large companies in Europe and the US. In India, 90% of the T&D equipment manufacturers belong to the small and medium enterprises (SME) sector, and are generally unable to upgrade technology and improve products.
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