Market Trends of India Instrument Transformer Industry
This section covers the major market trends shaping the India Instrument Transformer Market according to our research experts:
Current Transformer Expected to Witness Significant Growth
- Current transformers (type of instrument transformers) are the one that assists in converting primary current to secondary currents, which are suitable to the connected measuring instruments. These transformers are series-connected electromagnetic devices that consist of copper wound coils, electrical grade laminations, and iron ore. They can multiply or reduce Alternating Current (AC).
- The basic principle of the current transformer states that when an AC flows through the primary winding, alternating magnetic flux is produced, which then induces a proportional alternating current in the secondary winding. Moreover, there is a crucial operational difference in current transformers when compared to potential transformers i.e., current transformers primarily consist of only one or a few turns as their primary winding. It could be a heavy-duty wire around the core or be a bar or a conductor placed through a hole. In comparison, the secondary winding would have many turns wound on a low-loss magnetic material of the laminated core.
- Current transformers have a wide range of application areas which includes extending the range of measuring instruments such as energy meters, wattmeter, KVA meters, and ammeters, etc., over current fault protection, differential circulating current protection systems.
- Also, the advantages of the current transformers includes measuring high currents, high electrical isolation, effective measurements, easy maintenance and installation and, safe AC measurement. Thus, these advantages helps in increasing the demand for current transformers when compared to potential transformers.
- Therefore, based on the above-mentioned factors, current transformers type is expected to witness significant growth in India instrument transformer market during the forecast period.
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Expanding Grid Infrastructure Expected to Propel the Demand for Instrument Transformers
- The energy market in India has been facing an increase in demand for electricity and, therefore, the power grid is more likely to experience voltage fluctuations. Instrument transformers ensure power grid stability, protection, and financial viability. These transform or reduce high voltages and currents to maximize safety and usability.
- Stable operation of the electrical grid is required to cope up with the increase in demand. Any faults in the power grid leads to extensive financial losses and catastrophic damages to the electrical infrastructure. These situations can be avoided by the use of instrument transformers which ensure safe and cost-effective automation of the control systems. With instrument transformers, measurement of large electrical quantities becomes possible by coupling instrument transformers with general electrical measuring devices. An instrument transformer is capable of withstanding high levels of stress in all climatic conditions.
- Developing countries like India are experiencing a rising demand for revamping the conventional grid infrastructure in conjunction with the ongoing transmission and distribution grid network expansion. The regional transformer industry is experiencing extraordinary growth due to favorable regulatory measures in compliance with grid stability and energy efficiency. For instance, the National Electricity Policy (NEP, 2021) aims to ensure grid stability across all transmission stations or substations, which includes high voltage equipment like instrument transformers, switchgear,etc.
- Moreover, growth in interest towards rural electrification is in line with the renovation of the existing grid network, owing to a favor toward authorities to incorporate an efficient protection and monitoring mechanism. Thus, an increase in grid complexities across the electric infrastructure in conjunction with emerging peak electricity demand from end-users propels the India instrument transformers market growth.
- Therefore, based on the above-mentioned factors, expanding grid infrastructure to propel the demand for instrument transformers in India is expected to drive the market during the forecast period.
