Instrument Transformers Market Analysis By Dielectric Medium, Size, Share, Trend, Competition, Future Growth, Opportunities and Forecast 2026
Global instrument transformers market stood at more than $ 7.9 billion in 2019 and is forecast to grow at a CAGR of over 5% during 2021-2026, owing to increasing demand for power, rising emphasis on alternative energy production, improving and evolving technologies, refurbishment of aging infrastructure, and investments in smart grids and energy systems. Instrument transformers are high accuracy class electrical devices used to isolate or transform voltage or current levels. Moreover, growing investments in transmission & distribution infrastructure and massive investments in smart grids and energy systems, globally, would further drive global instrument transformers market during the forecast period. In terms of dielectric medium, global instrument transformers market has been categorized into liquid, SF6 gas & solid dielectric medium. Of these types, the liquid dielectric medium category is expected to account for a significant market portion in coming years, backed by its a...