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Study Period | 2020 - 2030 |
Base Year For Estimation | 2024 |
Forecast Data Period | 2025 - 2030 |
Historical Data Period | 2020 - 2023 |
CAGR | 3.50 % |
Market Concentration | Low |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
India Instrument Transformer Market Analysis
The India Instrument Transformer Market is expected to register a CAGR of greater than 3.5% during the forecast period.
- Current transformer type is expected to witness significant growth during the forecast period, owing to its advantages like easy maintenance and installation, safe measurement, etc.
- Integration of advanced technologies such as artificial intelligence (AI), and internet of things (IoT) along with the ongoing research and developements (R&D) are expected to create immense opportunities in the coming years.
- Expanding grid infrastructure to propel the demand for instrument transformers are expected to drive the market in India during the forecast period.
India Instrument Transformer Market Trends
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.
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India Instrument Transformer Industry Overview
The India instrument transformer market is fragmented. Some of the major players include Siemens Energy AG, General Electric Company, Schneider Electric SE, ABB Ltd, and Hitachi ABB Power Grids.
India Instrument Transformer Market Leaders
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Siemens Energy AG
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General Electric Company
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Schneider Electric SE
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Hitachi ABB Power Grids
- *Disclaimer: Major Players sorted in no particular order
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India Instrument Transformer Market News
- In April 2021, GE Renewable Energy's Grid Solutions and Hitachi ABB Power Grids Ltd. have signed a landmark agreement to use an alternative gas to sulfur hexafluoride (SF6) used in high voltage equipment like instrument transformer, switchgear, etc. This fluoronitrile-based gas mixture has a significantly reduced impact on the environment compared to SF6. Under this landmark agreement, both companies are expected to share complementary intellectual property related to their respective SF6-free solutions. This helps accelerate the use of fluoronitrile-based eco-efficient insulation and switching gas in high-voltage equipment as an alternative to SF6.
- In September 2020, Power Grid Corporation of India Limited, in collaboration with Bharat Heavy Electricals Limited (BHEL), successfully commissioned India's first natively developed BHEL-make 400 kV optical current transformer and digital substation components at the 400/220 kV Bhiwadi substation of Powergrid. This collaborative research and development project was a major step towards complete digitization of the substation automation system and its indigenisation.
India Instrument Transformer Industry Segmentation
The India instrument transformer market report includes:
Type | Current Transformer |
Potential Transformer | |
Others | |
End-User | Power Utilities |
Industrial Sector | |
Others |
India Instrument Transformer Market Research FAQs
What is the current India Instrument Transformer Market size?
The India Instrument Transformer Market is projected to register a CAGR of greater than 3.5% during the forecast period (2025-2030)
Who are the key players in India Instrument Transformer Market?
Siemens Energy AG, General Electric Company, Schneider Electric SE and Hitachi ABB Power Grids are the major companies operating in the India Instrument Transformer Market.
What years does this India Instrument Transformer Market cover?
The report covers the India Instrument Transformer Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the India Instrument Transformer Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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India Instrument Transformer Industry Report
Statistics for the 2025 India Instrument Transformer market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Instrument Transformer analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.