(MENAFNEditorial) iCrowdNewswire - Nov 20, 2017
research provides actionable intelligence on major parameters impacting the market; analyses the market performance of key companies; market dynamics of key segments; outlines the market performance across global regions. The insights of industry over past 5 years and a forecast until 2022 is provided. Industry experts project Current Transformer market to grow at a CAGR of 7.81% during the period 2017-2021.
sCurrent transformers find applications in alternating current (AC) systems where they are used to measure current. To protect the electrical system, current transformers are often used with protective relays incorporated into the network. The operating current levels of any electrical system are high and it becomes difficult to measure the current due to the lack of availability of any equipment capable of measuring such high values of current. The devices that are available for measurement purpose are capable of measuring current at 5A level. The basic function of a current transformer is to step down the current of any AC system to a value that can be measured using available devices. This has increased the popularity of current transformers within the power generation sector.
Firstly, the Current Transformer market research report provides a basic overview of the industry including definitions, market status and industry chain structure. The Current Transformer market analysis is provided for the international market including development history, competitive landscape analysis, and major regions' development status. What's more, the Current Transformer industry development trends and growth patterns are analyzed.
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Current Transformer market potential is analysed for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, demand and present scenarios in Current Transformer industry. To determine the Current Transformer market size the report considers detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. Further the Current Transformer market report focuses on global major leading industry players with information. Report contains vendor landscape in addition to a SWOT analysis of the key vendors operating in Current Transformer market space like ABB, CG, General Electric, Instrument Transformers, Schneider Electric and many more.
Current Transformer Market Drivers, Challenges and Trends: –
Current Transformer Market Driver: – one driver in market is enhanced accuracy of current transformers at extremely low current levels. Independent power producers (IPPs) are causing changes in the overall power flow. This, when coupled with the rising need for precise measurement even at low current levels, has generated the demand for newly designed current transformers to cater to the needs of end-users. Current transformer designers and manufacturers have been able to achieve accuracy levels that are efficient enough to perform in extremely low current situations, regardless of factors like the availability of wind turbines or the required wind speed. This helps the wind farms to generate higher revenue even when low levels of power are generated. The designs of the contemporary current transformers have improved drastically and offer high levels of accurate and reliable performance. They have also been successful in surpassing the level of optimal performance as defined by the traditional IEEE C57.13/CSA C60044 industry standards, governing the designing, manufacturing, and testing of current transformers. Also, modern current transformers can be conveniently interfaced with the existing on-field equipment.
Current Transformer Market Challenge: – one challenge in market is high cost of upgrading distribution networks and weak financial health of distribution sector. The cost of upgrading smart grid systems includes additional costs, such as the cost of replacement of transmission lines, distribution systems, power delivering systems, substation digitization, and digital controls. Consequently, power utilities and IPPs face the prospect of huge initial capital investment. It is anticipated that the cost of smart grid technology deployment in the US will range in the billions of dollars over the next 20 years, because of the aging power infrastructure and the increased need for renewable power grid integration. In addition, power utilities are reluctant to upgrade their power grids to make them compatible with smart grid solutions because of the high costs involved. Consequently, various smart grid solutions are becoming a high-pressure selling product among power utilities. This is projected to have a significant impact on the growth of the global smart grid T&D equipment market and, in turn, may impact the instrument transformer market as well.
Current Transformer Market trend: – One trend in market is innovative technologies. Top quality electrical equipment – such as the next generation of ABB instrument transformers – are the creations of highly refined manufacturing processes. Such products are the outcome of a modern design process that fuses electrical and mechanical features and uses high quality insulation materials. The use of advanced simulation software helps engineers to develop new products without the need to invest in significant prototyping expenses. Prominent vendors, such as ABB, uses Ansoft's Maxwell 3D electrostatic simulation software to design and create its instrument transformers. The Maxwell 3D program works by calculating the electric field stress distribution on the surface and inside the cast electrical device. The program optimizes the casting process and the associated parameters and maps the mechanical stresses and strains that develop inside the casting. Field stress distribution is derived by considering the dielectric properties of the material
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Market segmentation by application:- Switchgear, Power transformers ; Geographic Segmentation: – Americas, APAC, EMEA
In the next part of Current Transformer market research report, development policies and plans are discussed. This report also states growing domain, production and revenue by regions. The Current Transformer Market forecast to 2021 Considering Market Size, Sales, Revenue, Growth rate, Price and Trends for Regions, Types and Applications is also provided.
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