Market research Future Instrument Transformer Market Trends Forecast 2023 | Page 2

Instrument transformer market Research Report- Forecast to 2023
1 Summary
On the basis of regions, Asia Pacific dominates the global instrument transformer market followed by
Europe and North America. It is expected to be the fastest growing region for the market. India, South
Korea, Indonesia, and Singapore are the other major countries in Asia Pacific region. These countries have
recently witnessed rapid industrialization & urbanization, which resulted in the growth and expansion of
electrical infrastructure.
Most of the African nations are currently witnessing economic growth due to huge foreign investments in
developing industrialization sector and expanding energy generation capacity through renewable resources.
Africa is expected to hold one the largest share in the Middle East & Africa segment for the transformer
due to huge expansion in the energy generation and grid expansion.
Key Players:
The prominent players in the global instrument transformer market include are ABB Group (Switzerland),
Siemens Ltd. (Germany), General Electric Company (USA), Crompton Greaves Ltd. (India), Toshiba
Corporation (Japan), Hyundai Heavy Industries Co., Ltd. (South Korea), Mitsubishi Electric Corporation
(Japan), Hyosung Corporation (South Korea), Bharat Heavy Electricals Limited (India), Rakesh
Transformer Industries Pvt. Ltd (India), JSHP Transformers (China), Synergy Transformers (India),
Transformers & Rectifiers Ltd (India), PME Power Solutions Limited (India), and SPX Transformer
Solutions, Inc. (U.S.A).
2 Market Overview
Instrument transformers are electrical devices used to transform or isolate current or voltage levels with
high accuracy. They are used in AC systems for measurement of electrical parameters such as current,
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