This document provides an overview and market analysis of the global instrument transformers market from 2014 to 2024. It segments the market by dielectric medium, voltage, application, end user industry, and region. It also analyzes individual country markets for Asia Pacific, Europe, North America, Middle East and Africa, and South America. The market is driven by investments in refurbishing aging power infrastructure and expanding smart grids. The report provides market size forecasts through 2024 and discusses key players, trends, and factors influencing the market.

1. GLOBAL INSTRUMENT TRANSFORMERS MARKET
FORECAST & OPPORTUNITIES
2014 – 2024
MARKET INTELLIGENCE . CONSULTING
www.techsciresearch.com
PUBLISHED: APRIL 2019

2. 2
Scope of Report
Product of Interest (POI): Instrument Transformers
Review Period
2014 – 2017
Base Year
2018
Estimated Year
2019
Forecast Period
2020 – 2024
Year Range
DIELECTRIC MEDIUM APPLICATION
• Switchgear Assemblies
• Relaying
• Metering & Protection
END USER INDUSTRY
• Power Utilities
• Power Generation
• Industries & OEMS
REGIONS
• Europe
• North America
• Asia-Pacific
• Middle East & Africa
• South America
• Liquid Dielectric
• SF6 Gas Dielectric
• Solid Dielectric
“Instrument Transformers” are high accuracy class electrical devices used to isolate
or transform voltage or current levels. Instrument transformers are used in AC
system for measurement of electrical quantities i.e. voltage, current, power, energy,
power factor, frequency. Instrument transformers are also used with protective relays
for protection of power system.
Market Segmentation
VOLTAGE
• 0-250 kV
• 251-500 kV
• Above 500 kV

3. 3
Table of Contents
S. No. Contents Page No.
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
4.1. Factors to be considered for product selection
4.2. Factors Influencing Purchase Decision
4.3. Challenges/Issues Faced Post Purchase
4.4. Unmet Needs
5. Global Instrument Transformers Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Dielectric Medium (Liquid; SF6 Gas; Solid)
5.2.2. By Voltage (0-250 kV, 251-500 kV, Above 500 kV )
5.2.3. By Application (Switchgear Assemblies; Relaying; Metering & Protection; Others)
5.2.4. By End Use Industry (Power Distribution; Power Transmission; Industries & OEMS; Others)
5.2.5. By Company (2018)
5.2.6. By Region (Asia Pacific; Europe; North America; MEA and South America)
5.3. Market Attractiveness Index
6. Asia-Pacific Instrument Transformers Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast

4. 4
Table of Contents
S. No. Contents Page No.
6.2.1. By Voltage
6.2.2. By Application
6.2.3. By End Use Industry
6.2.4.
By Country (China; India; Japan; Australia; South Korea; Thailand; Malaysia and Rest
of APAC)
6.3. Asia-Pacific: Country Analysis
6.3.1. China Instrument Transformers Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Voltage
6.3.1.2.2. By Application
6.3.1.2.3. By End Use Industry
6.3.2. India Instrument Transformers Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Voltage
6.3.2.2.2. By Application
6.3.2.2.3. By End Use Industry
6.3.3. Japan Instrument Transformers Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Voltage

5. 5
Table of Contents
S. No. Contents Page No.
6.3.3.2.2. By Application
6.3.3.2.3. By End Use Industry
6.3.4. Australia Instrument Transformers Market Outlook
6.3.4.1. Market Size & Forecast
6.3.4.1.1. By Value
6.3.4.2. Market Share & Forecast
6.3.4.2.1. By Voltage
6.3.4.2.2. By Application
6.3.4.2.3. By End Use Industry
6.3.5. South Korea Instrument Transformers Market Outlook
6.3.5.1. Market Size & Forecast
6.3.5.1.1. By Value
6.3.5.2. Market Share & Forecast
6.3.5.2.1. By Voltage
6.3.5.2.2. By Application
6.3.5.2.3. By End Use Industry
6.3.6. Thailand Instrument Transformers Market Outlook
6.3.6.1. Market Size & Forecast
6.3.6.1.1. By Value
6.3.6.2. Market Share & Forecast
6.3.6.2.1. By Voltage
6.3.6.2.2. By Application
6.3.6.2.3. By End Use Industry
6.3.7. Malaysia Instrument Transformers Market Outlook

6. 6
Table of Contents
S. No. Contents Page No.
6.3.7.1. Market Size & Forecast
6.3.7.1.1. By Value
6.3.7.2. Market Share & Forecast
6.3.7.2.1. By Voltage
6.3.7.2.2. By Application
6.3.7.2.3. By End Use Industry
7. Europe Instrument Transformers Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Voltage
7.2.2. By Application
7.2.3. By End Use Industry
7.2.4. By Country (UK; France; Spain; Germany; Italy and Rest of Europe)
7.3. Europe: Country Analysis
7.3.1. Germany Instrument Transformers Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Voltage
7.3.1.2.2. By Application
7.3.1.2.3. By End Use Industry
7.3.2. United Kingdom Instrument Transformers Market Outlook
7.3.2.1. Market Size & Forecast

7. 7
Table of Contents
S. No. Contents Page No.
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Voltage
7.3.2.2.2. By Application
7.3.2.2.3. By End Use Industry
7.3.3. France Instrument Transformers Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Voltage
7.3.3.2.2. By Application
7.3.3.2.3. By End Use Industry
7.3.4. Italy Instrument Transformers Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Value
7.3.4.2. Market Share & Forecast
7.3.4.2.1. By Voltage
7.3.4.2.2. By Application
7.3.4.2.3. By End Use Industry
7.3.5. Spain Instrument Transformers Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Value
7.3.5.2. Market Share & Forecast

8. 8
Table of Contents
S. No. Contents Page No.
7.3.5.2.1. By Voltage
7.3.5.2.2. By Application
7.3.5.2.3. By End Use Industry
8. North America Instrument Transformers Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Voltage
8.2.2. By Application
8.2.3. By End Use Industry
8.2.4. By Country (US; Canada; Mexico and Rest of North America)
8.3. North America: Country Analysis
8.3.1. United States Instrument Transformers Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Voltage
8.3.1.2.2. By Application
8.3.1.2.3. By End Use Industry
8.3.2. Canada Instrument Transformers Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value
8.3.2.2. Market Share & Forecast
8.3.5.2.1. By Voltage

9. 9
Table of Contents
S. No. Contents Page No.
8.3.2.2.2. By Application
8.3.2.2.3. By End Use Industry
8.3.3. Mexico Instrument Transformers Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Voltage
8.3.3.2.2. By Application
8.3.3.2.3. By End Use Industry
9. Middle East & Africa Instrument Transformers Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Voltage
9.2.2. By Application
9.2.3. By End Use Industry
9.2.4. By Country (South Africa; UAE; Saudi Arabia; Iran and Rest of MEA)
9.3. MEA: Country Analysis
9.3.1. Saudi Arabia Instrument Transformers Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Voltage
9.3.1.2.2. By Application
9.3.1.2.3. By End Use Industry

10. 10
Table of Contents
S. No. Contents Page No.
9.3.2. South Africa Instrument Transformers Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Voltage
9.3.2.2.2. By Application
9.3.2.2.3. By End Use Industry
9.3.3. Iran Instrument Transformers Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value
9.3.3.2. Market Share & Forecast
9.4.3.2.1. By Voltage
9.3.3.2.2. By Application
9.3.3.2.3. By End Use Industry
9.4.4. UAE Instrument Transformers Market Outlook
9.4.4.1. Market Size & Forecast
9.4.4.1.1. By Value
9.4.4.2. Market Share & Forecast
9.4.4.2.1. By Voltage
9.4.4.2.2. By Application
9.4.4.2.3. By End Use Industry
10. South America Instrument Transformers Market Outlook
10.1 Market Size & Forecast
10.1.1 By Value

11. 11
Table of Contents
S. No. Contents Page No.
10.2. Market Share & Forecast
10.2.1. By Voltage
10.2.2. By Application
10.2.3. By End Use Industry
10.2.4. By Country (Brazil; Argentina; Columbia and Rest of South America)
10.3. South America: Country Analysis
10.3.1. Brazil Instrument Transformers Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Value
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Voltage
10.3.1.2.2. By Application
10.3.1.2.3. By End Use Industry
10.3.2. Argentina Instrument Transformers Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1. By Value
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Voltage
10.3.2.2.2. By Application
10.3.2.2.3. By End Use Industry
10.3.3. Colombia Instrument Transformers Market Outlook
10.3.3.1. Market Size & Forecast
10.3.3.1.1. By Value
10.3.3.2. Market Share & Forecast

12. 12
Table of Contents
S. No. Contents Page No.
10.3.3.2.1. By Voltage
10.3.3.2.2. By Application
10.3.3.2.3. By End Use Industry
11. Market Dynamics
11.1. Drivers
11.1.1. Refurbishment of the Aging Power Infrastructure
11.1.2. Huge Investments in Smart Grids and Energy Systems
11.2. Challenges
11.2.1. Delays in Grid Expansion Projects
12. Market Trends and Developments
13. Competitive Landscape
13.1. Competition Outlook
13.2. Company Profiles (Leading 10 Companies) .
13.2.1 Basic details
13.2.2. Financials (As Reported)
13.2.3. Supply chain analysis
13.2.4. Key market focus and geographical presence
13.2.5. Planned investments
13.2.6. Pricing of target products
13.2.7. Market Positioning
14. Strategic Recommendations

13. 13
Research Methodology
 Identifying Key Opinion
Leaders
 Questionnaire Design
 In-depth Interviews
Data
Collection
Developing list
of respondents
Formulating
Questionnaire
Market
Profiling
Data
Validation
Data
Analysis
In-depth secondary
research was conducted to
determine top players in
the Global Instrument
Transformers Market,
overall market size and
segmental market size.
In order to conduct
industry experts’
interviews, TechSci
formulated a detailed
discussion guide.
List of industry
players and industry
specialists was
developed.
TechSci conducted
interviews with
industry experts and
industry players for
data collection and
verification.
Data obtained as a
result of primary
and secondary
research was
validated through
rigorous
triangulation.
The data was scrutinized
using MS-Excel, statistical
tools and internal
proprietary database to
obtain qualitative and
quantitative insights about
the Global Instrument
Transformers Market
Data
Collection
Data Filter
& Analysis
Research &
Intelligence
Actionable
Insights
Business
Solution
Primary Research Desk Research Company Analysis
 Recent Developments
 Market Changing
Aspects/Dynamics
 Government Policies
 Final Conclusion
 Market Participants
 Key Strengths
 LinkedIn
 TechSci Internal
Database
 Factiva
 Hoovers
Paid Sources
 Company Website
 Company Annual
Reports
 White Paper Study
 Financial Reports
 Investor
Presentations
 Regulatory Body
 Associations, etc.
Secondary
Research
Primary Research

14. 14
Research Methodology
Baseline Methodology
Our dedicated team of industry experts has monitored and analyzed various aspects of Global Instrument Transformers market. The
of this market, while considering the major influencing factors such as refurbishment of the aging power infrastructure, huge
speculated to drive the growth of the market during the next 5 years. The study includes market forecasting, which would enable our
strategy to achieve sustainability in Global Instrument Transformers market.
Methodology Followed for Calculation of Market Size:
• Market Size by Value : Market size, in terms of value and area, for the year 2018 was calculated based on information collected
through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as Instrument
market influencers & end users, industry experts, and other industry participants.
• The team interviewed more than 100 stakeholders in the Global Instrument Transformers market to obtain the overall market size
technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data from
• Respondents were asked about the current and future market growth rates, market shares, by dielectric medium, by voltage,, by
region. Removing the outlier responses, the geometric mean of growth estimates and supplier wise revenue shares generated across
the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders
Transformers.

15. 15
Research Methodology
Methodology Followed for Calculation of Market Shares:
Market shares by dielectric medium, by voltage, by application, by end user industry, by region and by company were calculated based
surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various types of
calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers.
Methodology Followed for Forecasting:
• TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey
• Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast Global
Research used various forecast techniques such as:
 Moving Average
 Time Series Analysis
 Regression Analysis
 Econometric and Judgmental Analysis

16. 16
Research Methodology
TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during
short, medium and long term period to estimate the demand and to reach accurate market numbers. It should be noted that the figures compiled are only for the organized market
including market share data.
Partial List of Companies Interviewed Key Secondary Sources
 Siemens AG
 General Electric Company
 ABB Ltd
 Arteche Lantegi Elkartea SA
 KONČAR – Elektroindustrija d.d.
 PFIFFNER Messwandler AG
 Indian Transformers And Electricals Pvt. Ltd.
 Instrument Transformer Technologies Pty Ltd
 Emek Elektrik Endustrisi AS
 XD Group Corporation
 XXX
 XXX
 XXX
 XXX
 XXX
 XXX
 XXX
 XXX
 XXX
 XXX
 XXX
 XXX
 XXX
 XXX
 XXX
 World Bank
 TechSci Research Proprietary Database & Knowledge Repository
 Company Annual Reports
 Industry Magazines
 Industry Reports
 News Dailies
 Credible Paid Databases
 XXX
 XXX
 XXX
 XXX
 XXX
 XXX
 XXX
 XXX
 XXX
 XXX
 XXX
 XXX
 XXX
 XXX
 XXX
 XXX
 XXX

17. 17
Country 2014 2015 2016 2017 2018
United States (USD) 1 1 1 1 1
Canada (Canadian Dollar) 1.10 1.28 1.33 1.30 1.30
Mexico (Mexican Peso) 13.31 15.79 18.68 18.91 19.23
Germany (Euro) 0.72 0.82 0.91 0.95 0.83
United Kingdom (Pound) 0.61 0.65 0.74 0.78 0.75
Italy (Euro) 0.72 0.82 0.91 0.95 0.83
Russia (Russian Ruble) 38.56 61.34 66.99 58..36 62.80
France (Euro) 0.72 0.82 0.91 0.95 0.83
India (INR) 61.01 64.12 67.18 65.11 68.41
China (Yuan) 6.16 6.28 6.64 6.76 6.62
Japan (Yen) 105.86 121.06 108.80 112.15 110.43
South Korea (Won) 1,053.58 1,132.33 1,161.22 1,130.44 1,100.50
Thailand (Thai Baht) 32.48 34.28 35.27 33.96 32.33
Australia (Australian Dollar) 1.11 1.33 1.35 1.30 1.34
Malaysia (Malaysian Ringgit) 3.28 3.49 4.29 4.48 4.06
Brazil (Real) 2.35 3.34 3.49 3.19 3.65
Argentina (Peso) 8.11 9.25 14.76 16.56 28.14
Colombia (Colombian Peso) 2,000.65 2,740.97 3,053.16 2,948.89 2,956.12
South Africa (Rand) 10.84 12.77 14.71 13.30 13.26
Saudi Arabia (Riyal) 3.75 3.75 3.75 3.75 3.75
UAE (Dirham) 3.67 3.67 3.67 3.67 3.67
Qatar (Qatari Rial) 3.63 3.63 3.63 3.61 3.64
Research Methodology
Currency Exchange Rates
• The currency used in the report is the United States Dollar (USD), with the market size indicated in USD million.
• The company revenues were taken from their annual reports.
• Average annual currency conversion rate was used for companies that reported their revenue in other currencies.
Source:USForex,TheBureauoftheFiscalServiceandUSDepartmentofTreasury

18. 18
INDUSTRY BRIEF
According to TechSci Research report, “Global Instrument Transformers Market By Dielectric Medium, By Voltage, By Application, By End Use
Industry, By Region, Competition, Forecast & Opportunities, 2024”, global instrument transformers market is projected to reach $ 10.3 billion by 2024, on
account of increasing installation with regard to new transformers and replacement of old transformers with new ones. This need to expand the existing
infrastructure comes as a result of inability of the existing power stations to meet growing demand for electricity. Moreover, increasing importance of alternative
energy production is also expected to aid the market.
In terms of end use industry, global instrument transformers market has been categorized into power utilities, power generation, industries & OEMS and railways
& metros. Among the various end-use industries, the power distribution category accounted for majority of the global instrument transformers market in 2018
and is anticipated to remain as the largest end use industry during the forecast period as well. As instrument transformers are a major part of the transmission
and distribution infrastructure, they are used for measurement as well as protection of the system.
In 2018, Asia-Pacific accounted for the largest share in global instrument transformers market, owing to growth in alternative energy sources and large
investments in smart grids and energy systems. Moreover, developing economy in the region and leading global industries establishing their manufacturing and
production units in countries such as China, South Korea, Japan and India are also bolstering the market. Additionally, governments in various Asian countries
are focusing on the use of renewable energy sources for power generation and complete electrification. Among the countries in the Asia-Pacific region, the
market for instrument transformers in China is anticipated to register the maximum share in the region during forecast period.
“Over the coming years, global instrument transformers market is expected to be driven by evolving technologies, growing importance of alternative energy
production, and increasing demand for power, globally. Moreover, surging investments in transmission & distribution infrastructure and massive investments in
smart grids and energy systems would provide lucrative growth opportunities to instrument transformer market players during the forecast period.”, said, Mr.
Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

19. 19
SAMPLE DATA - SNAPSHOT
Global Instrument Transformers Market Size, By Value, 2019E & 2024F
(USD Million)
$XX Million
2024F
$XX Million
2019E
XX% CAGR
Company A
Company B
Company C
Company D
Others
Global Instrument Transformers Market, By Share, By Company, By
Value, 2018
Europe Instrument Transformers Market Share, By Voltage, By Value, 2014–2024F
33% 33% 33% 33% 33% 33% 33% 33% 33% 33% 33%
33% 33% 33% 33% 33% 33% 33% 33% 33% 33% 33%
33% 33% 33% 33% 33% 33% 33% 33% 33% 33% 33%
2014 2015 2016 2017 2018 2019E 2020F 2021F 2022F 2023F 2024F
0-250 kV 251-500 kV Above 500 kV
Germany Instrument Transformers Market Share, By End User Industries, By Value, 2014–2024F
25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25%
25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25%
25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25%
25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25%
Others
Industries &
OEMS
Power
Transmission
Power
Distribution

20. 20
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Report Name: GLOBAL INSTRUMENT TRANSFORMERS MARKET
FORECAST & OPPORTUNITIES
2014 – 2024

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uniquely rich evaluation of the opportunities available in the market.
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