Current Transformer Market Statistics, Trends, Size, Share, and Key Players by 2031

Historic Data: 2021-2023   |   Base Year: 2024   |   Forecast Period: 2025-2031

Coverage: Current Transformer Market covers analysis By Construction (Wound Transformer, Torodial Transformer, Bar Transformer); Voltage (Low Voltage, Medium Voltage, High Voltage); Use (Indoor, Outdoor); Application (Energy Sector, Manufacturing Sector) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Date : Oct 2025
  • Report Code : TIPRE00027549
  • Category : Electronics and Semiconductor
  • Status : Upcoming
  • Available Report Formats : pdf-format excel-format
  • No. of Pages : 150
Page Updated: Jan 2025

The Current Transformer Market is expected to register a CAGR of 6.1% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.

The Current Transformer Market report covers analysis By Construction, Voltage, Use, and Application. Geographically, the market is segmented into North America, Europe, Asia Pacific, and South and Central America.

Purpose of the Report

The report Current Transformer Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:

  • Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
  • Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
  • Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.

Current Transformer Market Segmentation

Construction

  • Wound Transformer
  • Torodial Transformer
  • Bar Transformer

Voltage

  • Low Voltage
  • Medium Voltage
  • High Voltage;

Application

  • Energy Sector
  • Manufacturing Sector

Geography

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

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Current Transformer Market: Strategic Insights

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Current Transformer Market Growth Drivers

  • Advancement Towards Renewable Energy Sources: The current transformer market is booming due to one of the significant trends: advancement towards renewable energy sources. In this scenario, wherever installations of solar and wind energies are spreading all over the world, accurate measurements and monitoring of electrical parameters are performed. IRENA has reported that renewable energy capacity worldwide had been growing and was at 2,799 GW in 2021. This number was already at 2,531 GW in 2020. This growth demands efficient current transformers for stable grids, and hence there is an increased market growth along with improved market share with the energy sector.
  • Smart Grid Technology Boosts Market: The Current Transformer Market is highly driven by smart grid technology, whose ongoing development is fostering it so much that current transformers for smart grids are becoming highly essential as such measurement solutions offer improved efficiency and reliability

Current Transformer Market Future Trends

  • Impact of HVDC System Adoption: Adoption of High-Voltage Direct Current (HVDC) systems is drastically affecting the current transformer market. The HVDC market, according to 2023 estimations, is going to be at $18.8 billion by 2026 because of efficient long-distance power transmission demands. Government incentives for renewable energy projects are adding to this trend as indicated by the PEST analysis. The market strategy of the key players, particularly ABB and Siemens, would be strictly toward specializing in current transformers for HVDC applications. An ever more significant trend in market dynamics toward more efficient technologies relating to this transmission is a telltale sign.
  • Digital Technologies Transform Market: Digital Technologies and the Internet of Things (IoT) Revolutionize the Current Transformer Market. Over 50% of the current transformers may be equipped with digital monitoring and IoT capabilities by 2025. SWOT Analysis. Strengths include better data collection and monitoring, whereas weaknesses are represented by cybersecurity risks.
  • Market Trend and Regulation Analysis: Curves are getting steeper, and stricter regulations about energy efficiency and performance standards are influencing the current transformer market. A PEST analysis proves that these regulations are indeed encouraging innovation in the design of transformers. The key players, such as General Electric and Eaton, are revising their market strategies to respond to these demands. That underlines the general market dynamics that enhance energy performance and sustainability. Implementation of these standards will result in the slashing of operational costs for utilities by up to 10%.

Current Transformer Market Opportunities

  • EV Adoption Drives Transformer Demand: Rapid adoption of EVs calls for strong charging infrastructure, which includes current transformers for smooth power distribution. It is estimated that 25 million EVs will be plying U.S. roads by the year 2030. This will certainly escalate the demand for reliable current transformers. This trend is a significant opportunity for manufacturers specializing in solutions for EV infrastructure. With changing requirements in the transportation sector, this market demands more innovation in terms of product offers.
  • Increased Digitization: As the horizon is continuously turning digital, the need for data centers is constantly on the rise, and in such facilities, dependable electrical systems are inevitable. Thus, current transformers are also required to monitor and control power consumption within these facilities. The global data center market is expected to grow to around $200 billion in the future, mainly as a result of cloud computing and data storage becoming increasingly needed. In this scenario, a supplier in current transformers can look forward to good growth prospects, particularly those who have been developing solutions customized to match specific power requirements for data centers, which reinforces their competitive advantage in the landscape.
  • Data Centers Fuel Transformer Growth: Given increasing energy prices and environmental issues, energy efficiency has become a very pressing priority in various sectors. The current transformers are very important in monitoring energy consumption and optimizing power distribution. Hence, with the importance placed upon energy management solutions, they should be in line with actual physical facts. Indeed, they are highly recommended and are used as a reference in providing efficient energy management solutions. As reported by the U.S. Conversely, the Department of Energy expects that with improvements in energy efficiency, there will be an overall reduction in electricity consumption by 10% by 2030. The trend cuts out the tremendous opportunity for current manufacturers of transformers to organize and embrace researching and developing smart, energy-efficient technologies along with the shift of the industry's nature.

Current Transformer Market Regional Insights

The regional trends and factors influencing the Current Transformer Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Current Transformer Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Current Transformer Market Report Scope

Report Attribute Details
Market size in 2024 US$ XX million
Market Size by 2031 US$ XX Million
Global CAGR (2025 - 2031) 6.1%
Historical Data 2021-2023
Forecast period 2025-2031
Segments Covered By Construction
  • Wound Transformer
  • Torodial Transformer
  • Bar Transformer
By Voltage
  • Low Voltage
  • Medium Voltage
  • High Voltage;
By Application
  • Energy Sector
  • Manufacturing Sector
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Schneider Electric
  • GE Grid Electric
  • VAC
  • SIEMENS AG
  • ABB
  • Jiangsu Huapeng Transformer
  • Continental Control System
  • Trench Limited
  • Nissin Limited

  • Current Transformer Market Players Density: Understanding Its Impact on Business Dynamics

    The Current Transformer Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.


    current-transformer-market-cagr

    • Get the Current Transformer Market top key players overview

    Key Selling Points

    • Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Current Transformer Market, providing a holistic landscape.
    • Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
    • Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
    • Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.

    The research report on the Current Transformer Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.


    Frequently Asked Questions

    1

    What are the options available for the customization of this report?

    Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
    2

    What are the deliverable formats of Current Transformer Market report?

    The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
    3

    Which are the key players in the Current Transformer Market?

    Key companies in this market are: Schneider Electric, GE Grid Electric, VAC, SIEMENS AG, ABB, Jiangsu Huapeng Transformer, Continental Control System, Trench Limited, Nissin Limited
    4

    What is the expected CAGR of the Current Transformer Market?

    The Current Transformer Market is expected to register a CAGR of 6.1% from 2023-2031.
    5

    What are the future trends in the Current Transformer Market?

    Key future trends in this market are - Demand for electrical grid reliability, Integration with smart metering systems, Advancements in transformer efficiency
    6

    What are the driving factors impacting the Current Transformer Market?

    The major factors impacting the Current Transformer Market are: Increasing Demand for Renewable Energy, Expansion of Smart Grid Infrastructure, and Growing Industrial Automation
    Naveen Chittaragi
    Associate Vice President,
    Market Research & Consulting

    Naveen is an experienced market research and consulting professional with over 9 years of expertise across custom, syndicated, and consulting projects. Currently serving as Associate Vice President, he has successfully managed stakeholders across the project value chain and has authored over 100 research reports and 30+ consulting assignments. His work spans across industrial and government projects, contributing significantly to client success and data-driven decision-making.

    Naveen holds an Engineering degree in Electronics & Communication from VTU, Karnataka, and an MBA in Marketing & Operations from Manipal University. He has been an active IEEE member for 9 years, participating in conferences, technical symposiums, and volunteering at both section and regional levels. Prior to his current role, he worked as an Associate Strategic Consultant at IndustryARC and as an Industrial Server Consultant at Hewlett Packard (HP Global).

    • Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
    • PEST and SWOT Analysis
    • Market Size Value / Volume - Global, Regional, Country
    • Industry and Competitive Landscape
    • Excel Dataset

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