Market research Future Instrument Transformer Market Trends Forecast 2023 | Page 3

Instrument transformer market Research Report- Forecast to 2023
voltage, energy, power factor, and frequency. On the basis of regions, global instrument transformer market
is segmented as North America, Europe, Asia Pacific and Rest of the World (RoW). Asia Pacific region
dominates the global instrument transformer market. The continuous need to update and upgrade existing
distribution infrastructure to serve the growing demand for electricity, will lead to high growth of the
instrument transformer market over the forecast period. In the emerging economies of Asia Pacific,
extensive power plant capacity additions, economic growth, and the need to improve access to electricity,
are driving grid expansion and the instrument transformer market. China, Japan, India, Australia and
Indonesia are the major markets in Asia Pacific. China accounts for the largest market share in the Asia
Pacific region, mainly due to rapid growth in urbanization and industrial development.
Market Segmentation
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