Instrument Transformers Market Highlights:
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).
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Instrument Transformers Market Drivers and Restraints:
The phenomenal growth in the industrial sector across the globe is creating a massive power requirement for the proper functioning of the sector. The high dependability of industrial sector towards power is enabling the growth for the power equipment in the sector. The enormous amount of power consumption in the industrial sector with varying load capacity is expected to boost the transformer market during the forecast period. Global initiatives to use more renewable and non-conventional energy sources, smart grids, & the global need to upgrade transmission grids boost the global instrument transformer market. These transformers are widely used by power plants, industrial plants and conventional electric utility companies.
The constant need for electricity and the unstable electricity supply situation in most developing countries, will aid in the growth of the instrument transformers market over the forecast period. However, fluctuating price of raw materials and high cost of transformers, are the factors that may hamper the growth of the market.
Global instrument transformer market appears to be highly fragmented and competitive, owing to the presence of numerous large and medium players in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position. Manufacturers operating in the market strive to deliver innovative solutions that improve the design and manufacturing processes of business around the world.
Global Instrument Transformers Market Segments Analysis:
The scope of the study segments the global Instrument Transformer market by its material, product, manufacturing process, application and region.
High Voltage Transmission
Extra High Voltage Transmission
By Enclosure Type:
Industries & OEMS
Global Instrument Transformers Market Regional Analysis:
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.
Europe is the second largest market for the instrument transformer. It is expected to witness phenomenal growth during the forecast period, owing to the expansion of the market through rise in the industrial growth, aging infrastructure. This leads to investment in smart grids, rising production of electricity and growing demand for green energy. North America is another major market for instrument transformer. It is expected to contribute significantly during the forecast period. U.S is one of the leading countries in overall transformer shipments around the world. As the economy of U.S. is witnessing humongous growth due to phenomenal industrialization and urbanization, the country is expected to hold the largest share in the global instrument transformer market.
The report for Global Instrument Transformers Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance.
The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
TABLE OF CONTENTS:
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.2 RESEARCH OBJECTIVE
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1 PORTER’S FIVE FORCES ANALYSIS
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 BARGAINING POWER OF SUPPLIERS
3.1.4 THREAT OF SUBSTITUTES
3.1.5 SEGMENT RIVALRY
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
LIST OF TABLES:
TABLE 1 GLOBAL INSTRUMENT TRANSFORMERS MARKET: BY REGION, 2017-2023
TABLE 2 NORTH AMERICA INSTRUMENT TRANSFORMERS MARKET: BY COUNTRY, 2017-2023
TABLE 3 EUROPE INSTRUMENT TRANSFORMERS MARKET: BY COUNTRY, 2017-2023
TABLE 4 ASIA PACIFIC INSTRUMENT TRANSFORMERS MARKET: BY COUNTRY, 2017-2023
TABLE 5 ROW INSTRUMENT TRANSFORMERS MARKET: BY COUNTRY, 2017-2023
LIST OF FIGURES:
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 MARKET DYNAMICS
FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS
FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS
FIGURE 6 PORTER’S FIVE FORCES ANALYSIS
FIGURE 7 VALUE CHAIN ANALYSIS
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