Current Transformer Market Size & Share, by Product Type (Wound, Toroidal, Bar); Voltage Rating (<33kv, >33kv-<66kv, >66kv); Application (Power Distribution, Metering, Manufacturing) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 6072
  • Published Date: May 24, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Current Transformer Market size was valued at USD 3 Billion in 2023 and is projected to reach USD 8.5 Billion by the end of 2036, registering around 7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of current transformer is evaluated at USD 4.5 Billion.

The rising demand for electricity from residential areas, the power sector, and industries is driving growth in the market. As per International Energy Agency, global electricity demand is expected to rise by 3.4% consecutively every year across 2026.

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Current Transformer Sector: Growth Drivers and Challenges

Growth Drivers

  • Increased consumption of electricity - Due to the rapid increase in the population, the demand for reliable electricity is increasing. Various factors add up to this demand such as there is a huge population that works from home, businesses, and other sectors that require a reliable power supply. As per a recent analysis, high electricity consumption up to 25,500 terawatt hours was reported in 2022 worldwide. Therefore, the high demand for reliable power supply also requires a durable monitoring solution. Here comes the utilization of current transformers that convert primary current into secondary current. Thus, with the increasing consumption of electricity, the current transformer market is also expanding.
  • Excessive use of electrical appliances - The massive utilization of electrical appliances for instance air conditioning and electric heaters are propelling growth in the current transformer market. According to a study, the increased use of household appliances led to an estimated revenue generation of USD 0.60 trillion in the year 2024. Household appliances are rapidly taking over in the developed and developing countries. Moreover, the reliability on the electrical appliances is day-by-day growing due to the advancements in technology and increasing adoption by the urban areas.
  • Rapid urbanization combined with beneficial government reforms- This market has grown as a result of the quickening rate of urbanization as well as advantageous government changes and policies that are meant to help small-scale companies in developing countries. As per United Nations’ statistics; globally, the population living in cities increased quickly, from 751 million in 1950 to 4.2 billion in 2018.

    A favourable environment has been established for the use of bar type current transformers thanks to these activities. The continuous integration of renewable energy networks in line with incentive programs and legal requirements has further increased the use of these transformers. The current transformer market outlook has been positively impacted by the emphasis on sustainable energy sources and the adoption of laws and incentives that are supportive of them.


  • Power theft issues - Concern circulating power theft due to the modern current transformer is estimated to boost the closed-type current transformers and at the same time, hinder the growth of the current transformer market since the closed types are known to offer more security.
  • Soaring price of raw materials - The materials used in the current transformers such as copper, iron, and insulation components are very crucial and variations in their price can adversely impact the growth of the market. Therefore, generating a profit and keeping up with the control of cost increase can be a difficult task for a manufactures.

Current Transformer Market: Key Insights

Base Year


Forecast Year




Base Year Market Size (2023)

 USD 3 Billion 

Forecast Year Market Size (2036)

 USD 8.5 Billion 

Regional Scope

  • North America (U.S., and Canada) 
  • Latin America (Mexico, Argentina, Rest of Latin America) 
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) 
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) 
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa) 
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Current Transformer Segmentation

Product Type (Wound Type, Toroidal, Bar Type)

The bar type segment is anticipated to account for current transformer market share of around 39% by 2036. Bar type has extensive application in electricity grids, switch gears, and powerplants for protection from disturbances such as short circuits and overcurrent. Bar-type current transformers from Newtek Electricals are capable of holding high voltages of switchgear applications. These current transformers are usually used for monitoring electric current and, therefore highly utilized in renewable energy systems.

Application (Power Distribution, Metering, Protection, Manufacturing)

In current transformer market, metering segment is set to observe around 5% CAGR from 2024 to 2036. In the past few years metering sector has attained maximum growth since the current transformers are used to measure the current electricity flow rate and total power consumption.

Additionally, the metering segment is estimated to grow at a fast pace in the forecast period due to the demand for energy efficiency and the worldwide rapid adoption of smart power grid solutions.

Cooling (Dry Type, Oil Immersed)

In current transformer market, oil-immersed segment is poised to exceed USD 2.6 Billion by 2036. The segment growth can be attributed to its usage at high heat situations. These suspend transformers which are have steel tanks filled with oil. Oil-filled current transformer from Kalpaelectrikals adheres compliance with necessary standards and offers up to 36kV voltage for equipment.

Our in-depth analysis of the current transformer market includes the following segments: 

     Product Type

  • Wound
  • Toroidal
  • Bar

     Voltage Rating

  • <33kv
  • >33kv-<66kv
  • >66kv


  • Power Distribution
  • Manufacturing
  • Metering

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Current Transformer Industry - Regional Synopsis

Asia Pacific Market Forecast

Asia Pacific region in current transformer market is likely to hold revenue share of over 41% by the end of 2036. The region has seen a high demand for potent power systems. The manufacturing sector in India is rapidly growing forward eventually giving a boost to the market. The increase in electricity consumption in the region is expected to fuel the market growth of current transformers. According to the International Energy Agency, Asia Pacific will account for nearly half of the global electricity consumption by 2035.

China's government has put laws and programs into place to support grid modernization, integration of renewable energy sources, and energy efficiency.In 2022, China's renewable energy capacity accounted for 1,213 GW, or 47.3% of the country's total generation capacity.

Japan is a developed market with a high degree of innovation and technological improvement for current transformers. In order to lower carbon emissions, the nation is concentrating on energy efficiency and renewable energy sources in addition to its well-established power infrastructure. Japan intends to cut its greenhouse gas emissions by 46% by 2030 and will keep up its intense efforts to reach the ambitious target of 50% reduction in emissions.

Current transformer sales are substantial in Korea due to the country's expanding infrastructure and electricity needs. The nation has made large investments in the field of renewable energy, especially in wind and solar energy. It is anticipated that the government of Korea would raise the percentage of renewable energy sources in the nation's power mix to 20% by 2030, hence increasing the demand for current transformers.

North America Market Analysis

North American region in current transformer market is predicted to grow at over 5.7% CAGR through 2036. The market’s expansion can be attributed majorly to the rising demand for renewable energy sources and well-established advanced reliable power grid infrastructure. As per IRENA, North America consists of the richest renewable resources such as wind, solar, and geothermal.

In the region, the United States is the leading since the country has invested a considerable amount in power infrastructure and prioritizes renewable energy resources. Around USD 50 billion investment was made by the U.S. in 2022 in renewable energy technologies as per a recent report. In Canada, electricity consumption is rapidly increasing boosting growth to the market. According to International Energy Agency, Canada is expected to increase electricity generation from non-emitting sources by up to 90% by 2030.

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Companies Dominating the Current Transformer Landscape


    The current transformer market is fragmented, with the top five companies occupying 18.20%. The major players in this market are ABB Ltd., Arteche, CG Power Systems Schneider and Siemens.

    • CG Power Systems
    • Company Overview 
    • Business Strategy 
    • Key Product Offerings 
    • Financial Performance 
    • Key Performance Indicators 
    • Risk Analysis 
    • Recent Development 
    • Regional Presence 
    • SWOT Analysis 
    • ABB Ltd.
    • Arteche
    • Schneider
    • Siemens
    • Eaton Corporation
    • Amran Instruments Transformers
    • Hammond Power Solutions
    • Socomec
    • Megger

In the News

  • Siemens launched CAREPOLE which is an eco-friendly reliable cast resin transformer in April 2022. CAREPOLE is pole-mounted dry-type transformer for overhead distribution line networks for keeping the power system safe. Additionally, it is maintenance free which means less consumption of money and labor.
  • The Science Museum in London opened the Energy Evolution: The Adani Green Energy Gallery. This gallery has a free pass and it will help the visitors learn about how energy is generated and sustainably used to eradicate carbon and reduce calamities that may occur in the upcoming years due to carbonization.

Author Credits:  Dhruv Bhatia

  • Report ID: 6072
  • Published Date: May 24, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2023, the industry size of the current transformer was over USD 3 billion.

The market size for the current transformer is projected to cross USD 8.5 billion by the end of 2036 expanding at a CAGR of 7% during the forecast period i.e., between 2024-2036.

The major players in the market are Siemens, Eaton Corporation, Amran Instruments Transformers, Hammond Power Solutions, Socomec, Megger, and others.

The bar-type segment is anticipated to garner a share of 39% during 2024-2036.

The Asia Pacific current transformer sector is poised to hold 41% share by the end of 2036.
Current Transformer Market Report Scope

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