Estimation of Instrument Transformer Market in the Americas
- The global instrument transformer market size in 2018 surpassed an annual installation of 1 million units, and was $4.9 billion in value. The market is expected to exceed $8 billion by 2025, growing at a CAGR of 8.1% between 2019 and 2025.
- Therefore the market in 2020 could be estimated at $5.7 billion (1.081^2 x$4.9 billion) by value and 1.2 million (1.081^2 x 1 million) by number of units, assuming growth of the same rate in units.
- A report on the global market for power transformers notes that the market size in 2016 was $18 billion, and the regional markets of the Americas (North America and South America) was $4.9 billion, or about 27% ($4.9 billion/$18 billion x 100%).
- Assuming that the instrument transformer market in the Americas is the same proportion as that of the power transformer market, and that this proportion is the same as it was about 5 years ago, then the estimate of the market could be $1.5 billion (27% of $5.7 billion), and 0.3 million units (27% of 1.2 million).
Other Insights on the Instrument Transformer Market
- North America is the third largest market for instrument transformer after Asia Pacific (36%) and Europe.
- The instrument transformer market can be classified by type into: current, potential, and combined instrument transformers. The current transformers segment is estimated to be the largest market for instrument transformers, by 2022.
- The market can also be classified by dielectric medium: Liquid Dielectric Instrument Transformers, SF6 Gas Dielectric Instrument Transformers, and Solid Dielectric Instrument Transformers.
Summary of Findings
During our initial research, we determined that information on the market size and growth rate of the North American instrument transformer market is not publicly available. Information on the breakdown by product and by end user in the region is also not readily available
We have provided an indicative estimate of the market in the Americas based on data available on the power transformers market.
Global Instrument Transformer Market: Analysis By Type (Current Transformer, Potential Transformer), By Rating (High Voltage, Medium Voltage, Low Voltage), By Application (Process Industries, Power Transmission, Domestic, Railways, Others), By Region, By Country (2018 Edition): Opportunities and Forecast (2013-2023) (Azoth Analytics, $2,400).
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