Bar Type Current Transformer Market
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The global bar type current transformer market size was assessed at USD 669.6 million in 2024 and is expected to witness a CAGR of 7% through 2034, due to the integration of digital technologies and IoT which allows for real-time monitoring and diagnostics, enhancing grid reliability. Moreover, advanced materials and designs have cut down energy losses alongside bettering thermal performance, making these transformers more reliable during high voltage and high current applications. Subsequently, tech innovations have improved the accuracy of current bar transformers.
The growth in the bar-type current transformer market is immeasurable due to the increase in the demand for dependable and effective electrical systems in many industries. These transformers are integral parts in the systems of power transmission and distribution since they make it possible to measure high currents accurately. In addition, the heightened focus on renewable energy integration and grid modernization has added onto the demand of bar type current transformers. Such transformers are mostly used in industries like manufacturing, utilities, infrastructure for protection and monitoring purposes. IN addition, the improvement in current transformer efficiency, materials, and accuracy made these transformers crucial in modern electrical networks.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| Bar Type Current Transformer Market size in 2024: | USD 669.6 Million |
| Forecast Period: | 2025 – 2034 |
| Forecast Period 2023 - 2032 CAGR: | 7 |
| 2023 Value Projection: | USD 1.3 Billion |
| Historical Data for: | 2021 – 2024 |
| No of Pages: | 110 |
| Tables, Charts & Figures: | 20 |
| Segments Covered: | Cooling, Rating and Application |
| Growth Drivers: |
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| Pitfalls Challenges: |
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The market is expanding as a result of growing investments into renewable energy, modernization of grids, and increasing energy consumption in developing countries. In renewable energy systems, the accurate measurement of current for proper system protection is critical, and so bar-type current transformers are essential. In addition, the push towards smart grids and energy efficiency is providing strong support to utilities and industrials to improve their outdated systems, thus spurring product adoption. Furthermore, the demand for bar-type current transformers that can be integrated into intelligent monitoring systems has been increasing due to the transition toward smart grids. These developments support the general transformation of the energy field into the digital age.
The oil-immersed segment is anticipated to exceed USD 952.4 million by 2034. The increasing need for accurate and dependable measurements at high voltages has boosted the need for oil-immersed bar-type current transformers. These transformers have extensive application in power transmission and distribution networks due to their enhanced dielectric strength, high thermal endurance, and great structural integrity. The surge in the oil-immersed current transformer market is largely attributed to the precise modernization of power grids and the addition of renewable energy infrastructures since they reliably measure current and protect the system from damage.
The manufacturing segment is expected to grow at a CAGR of more than 7.1% till 2034. The development of industrial automation and implementation of Industry 4.0 has further escalated the need for advanced electric equipment and bar type current transformers. This solves the problem of monitoring and integrating IoT systems within the transformer which benefits the manufacturer by increasing the productivity and energy efficiency. Also, with the change in energy usage and adoption of sustainable measures by the manufacturers, the integrated bar type current transformers are used to control the distributed energy resources for enabling grid stability.
The U.S. bar type current transformer market size is expected to reach USD 94.8 million by 2034. The adoption of wind and solar energy in the U.S. has significantly contributed to the increased use of bar type current transformers. There is a need to monitor the current being supplied to the grid to tackle the changing energy supply. Also the smart grid development at the federal and state level is leading to the modernization of systems by incorporating new bar type transformers that have digital monitoring and diagnostic functions.
The infrastructure and industrial growth within the Asia Pacific region is rapidly expanding which is driving the demand for a bar-type current transformer. Countries like China, India, and other Southeast Asian countries are heavily investing in the power generation, transmission, and distribution sector to keep up with the energy demands that stem from urbanization and economic activity. In these networks, the bar-type current transformers are of immense importance as they measure the current accurately and provide protection in high-voltage power applications.
ABB is the leader in the bar-type current transformer industry as it has a fully integrated strategy for designing and manufacturing all types of electrical equipment that includes bar and standard structures. Being established and well-placed in the electrical components industry, the company is reputed for providing application specific tailored bushing solutions.
Some of the key players operating across the bar type current transformer industry are:
Market, By Cooling
Market, By Rating
Market, By Application
The above information has been provided for the following regions and countries:
The oil-immersed segment is expected to surpass USD 952.4 million by 2034, due to its superior insulation, thermal stability, and durability, making it ideal for high-voltage applications.
The manufacturing segment is anticipated to grow at a CAGR of over 7.1% by 2034, fueled by the adoption of Industry 4.0 technologies and the need for real-time monitoring to enhance energy efficiency.
The U.S. market is projected to exceed USD 94.8 million by 2034, supported by the shift to renewable energy sources and smart grid initiatives that require precise current monitoring and digital capabilities.
Key players include ABB, Amran, ARTECHE, Automatic Electric, Dalian Huayi Electric Power Electric Appliances, General Electric, Guangdong Sihui Instrument Transformer Works, Hitachi Energy, Instrument Transformers, Macroplast, Peak Demand, Siemens Energy, TWB, and Wenzhou Unisun Electric.
The global market for bar-type current transformer was reached USD 669.6 million in 2024 and is projected to grow at a 7% CAGR from 2025 to 2034, driven by advancements in digital technologies and IoT integration for real-time monitoring.