Voltage and Current Transformers Market, Global Outlook and Forecast 2024-2030
The global Voltage and Current Transformers market size was valued at US$ 2.89 billion in 2024 and is projected to reach US$ 4.12 billion by 2030, at a CAGR of 6.1% during the forecast period 2024-2030.
The United States Voltage and Current Transformers market size was valued at US$ 678.9 million in 2024 and is projected to reach US$ 934.5 million by 2030, at a CAGR of 5.5% during the forecast period 2024-2030.
Voltage and Current Transformers are essential power system components that transform voltage and current levels for measurement and protection applications.
The global market is expanding moderately, driven by power infrastructure modernization and grid reliability requirements. In 2023, unit shipments reached 15 million globally, with power utilities accounting for 55% of demand. The market saw a 25% increase in digital transformer adoption in 2023. Current transformers dominate with a 60% market share, while combined units are growing at 8% annually. Asia Pacific leads with a 45% market share, while Europe is the fastest-growing region at 6.8% CAGR. The industry is focusing on developing smart grid applications, with a 30% growth in R&D investments for digital integration.
Report Overview
Instrument transformers are high accuracy class electrical devices used to isolate or transform voltage or current levels. The most common usage of instrument transformers is to operate instruments or metering from high voltage or high current circuits, safely isolating secondary control circuitry from the high voltages or currents. The primary winding of the transformer is connected to the high voltage or high current circuit, and the meter or relay is connected to the secondary circuit.
This report provides a deep insight into the global Voltage and Current Transformers market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.
The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Voltage and Current Transformers Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.
In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Voltage and Current Transformers market in any manner.
Global Voltage and Current Transformers Market: Market Segmentation Analysis
The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.
Key Company
ABB
Arteche
China XD Group
Dalian Beifang
DYH
Emek
GE
Hengyang Nanfang
Indian Transformers
Jiangsu Sieyuan
Koncar
Pfiffner
Shenyang Instrument Transformer
Siemens
Zhejiang Horizon
Market Segmentation (by Type)
Current Transformer
Voltage Transformer
Market Segmentation (by Application)
Electrical Power and Distribution
Metallurgy & Petrochemical
Construction
Others
Geographic Segmentation
