According to a recent market study published by Growth Market Reports, titled, “Global Metering Transformers Market By Type, By Insulation, By Mounting, By Enclosure Type, By Rating, By End-Use, and By Region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at US$ 2,045.9 Million in 2022 and is anticipated to expand at a growth rate of 4.7% by 2031.
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The primary function of metering transformers is to step down high voltage or high current levels to a level suitable for measurement or protection purposes. They provide isolation and allow the safe connection of measuring instruments to the power system, preventing damage to the instruments and ensuring accurate readings.
Current Transformers (CTs) and Voltage Transformers (VTs) are the two types of metering transformers. Current transformers and voltage transformers provide electrical isolation and accurate transformation ratios, ensuring that the connected instruments receive accurate and safe measurements of current and voltage levels in the power system. These measurements are essential for billing, power quality monitoring, load management, and protection of the electrical network.
The Global Metering Transformers Market has been segmented in terms of Type, Insulation, Mounting, Enclosure Type, Rating, End-Use, and region. In terms of type, the Global Metering Transformers Market is split into current transformers (CTs) and voltage transformers (VTs). Based on insulation, the market is divided into dry type and oil immersed.
Based on mounting, the market is fragmented into pole and pad. Based on enclosure type, the market is divided into indoor and outdoor. Based on ratings, the market is fragmented into ≤ 33 kV, > 33 kV to ≤ 66 kV, and > 66 kV. Based on end-use Power Utilities, Power Generation, Railways & Metros, and Industries & OEMs. Considering regions, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The COVID-19 pandemic caused fluctuations in demand for metering transformers across different sectors. While commercial and industrial sectors experienced a decline in demand due to project delays, closures, and economic uncertainties, the residential sector witnessed increased electricity consumption due to remote work and stay-at-home measures.
This shift in demand patterns created challenges for manufacturers in forecasting and planning production schedules. The pandemic also led to disruptions in global supply chains, causing delays in the production and distribution of metering transformers. Restrictions on manufacturing operations, transportation, and logistics resulted in shortages of raw materials, components, and finished products. This affected the availability of metering transformers and created challenges for manufacturers in meeting customer demand.
Key Takeaways from the Study
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Players in the Global Metering Transformers Market include ABB Ltd, Amran Inc, Anderson Engineering Of New Prague, ARTECHE, CG Power & Industrial Solutions, Hitachi Energy Ltd, Instrument Transformers Limited, Magnetic Specialties, Inc, NISSIN ELECTRIC Co., Ltd., Schneider Electric, Shenzhen Chuangyin Co., Ltd, and Siemens Energy. These players held a major share of the Global Metering Transformers Market in 2022.
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Growing Demand For Electricity, Smart Grid Infrastructure Development are key factors that drive the metering transformers market.
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Renewable Energy Integration and Energy Efficiency Initiatives by the government are expected to create opportunities in the coming years.
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Based on type, the market is segmented into Current Transformers (CTs) and Voltage Transformers (VTs). The current transformers segment is expected to hold a considerable share of the market during the forecast period.
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Based on insulation, the market is fragmented into dry type and oil immersed. Dry-type segment holds a key share of the market. It requires minimal maintenance requirements. They do not use insulating oil and do not need regular oil testing, filtration, or oil replacement.
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Based on mounting, the global metering transformers market is bifurcated into pole and pad. The pole mounting segment is anticipated to expand at a significant CAGR during the forecast period, Pole mounting allows for efficient utilization of vertical space, especially in areas where ground-level installation may not be feasible or practical.
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Based on enclosure, the market is segmented into indoor and outdoor. The outdoor segment is anticipated to expand at a significant CAGR during the forecast period. Outdoor enclosures are designed with security in mind. They include features such as robust locks, tamper-resistant fastenings, or anti-vandalism measures to prevent unauthorized access or tampering with the transformer.
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Based on ratings, the market is segmented into ≤ 33 kV, > 33 kV to ≤ 66 kV, and > 66 kV. The > 66 kV segment is anticipated to expand at a significant CAGR during the forecast period. At grid interconnection points where different regional or national power grids are connected, metering transformers with > 66 kV rating are essential. These transformers facilitate the measurement and monitoring of electricity exchanges between different grids, enabling accurate accounting, and billing for energy transactions between utility companies or across regional borders.
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Based on End-Use, the market is segmented into Power Utilities, Power Generation, Railways & Metros, and Industries & OEMs. The power utility segment is expected to expand at a significant CAGR during the forecast period. Metering transformers are extensively employed in power utilities to accurately measure the amount of electricity consumed by residential, commercial, and industrial customers. They are connected to energy meters, which record the consumption data and provide the basis for billing.
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Based on regions, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific accounted for a significant share of the market in 2022. Asia Pacific is known for its technological advancements and manufacturing competitiveness. The region is a hub for electrical device manufacturing, with companies constantly investing in research and development to introduce advanced electrical devices. Rapid urbanization, industrialization, and increasing energy consumption in the region contribute to the demand for metering transformers. The region’s investments in smart grid infrastructure and renewable energy installations drive the demand for metering transformers.
Report Scope
Report Metric |
Details |
Market Value in 2022 |
US$ 2,045.9 Million |
Market Growth Rate (from 2022 to 2031) |
4.7% |
Historical Data |
2016 - 2021 |
Base Year |
2022 |
Forecast Period |
2023 – 2031 |
Units Considered |
Value (US$ Billion) |
Market Segments |
By Type, By Insulation, By Mounting, By Enclosure Type, By Rating, By End-Use, and By Region |
Key Companies Profiled |
ABB Ltd, Amran Inc, Anderson Engineering Of New Prague, ARTECHE, CG Power & Industrial Solutions, Hitachi Energy Ltd, Instrument Transformers Limited, Magnetic Specialties, Inc, NISSIN ELECTRIC Co., Ltd., Schneider Electric, Shenzhen Chuangyin Co., Ltd, and Siemens Energy. |
Customization Scope |
Report customization available on request |
Pricing and Purchase Options |
Avail of tailor-made purchase options to meet your research requirements. |
Target Audience
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Supply-side: Vendor, Manufacturer, Distributors, Supplier, Retailer.
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Regulatory Side: Concerned government authorities, and other approved regulatory bodies.