Market Size of Instrument Transformer Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 4.95 Billion |
| Market Size (2029) | USD 6.36 Billion |
| CAGR (2024 - 2029) | 5.13 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Instrument Transformer Market Analysis
The Instrument Transformer Market size is estimated at USD 4.95 billion in 2024, and is expected to reach USD 6.36 billion by 2029, growing at a CAGR of 5.13% during the forecast period (2024-2029).
Over the medium term, factors like expansion in the transmission and distribution network and growth in renewable power generation facilities are likely to drive the market.
On the other hand, the expansion of high voltage direct current (HVDC) networks is expected to hinder the market growth during the forecast period.
Nevertheless, the increasing integration of advanced technologies such as AI and IoT with instrument transformers is expected to create several opportunities for the market in the future.
