Current Transformers

Global Current Transformers Market to Reach US$3.1 Billion by 2030

The global market for Current Transformers estimated at US$2.3 Billion in the year 2024, is expected to reach US$3.1 Billion by 2030, growing at a CAGR of 5.4% over the analysis period 2024-2030. Oil Immersed Current Transformer, one of the segments analyzed in the report, is expected to record a 6.4% CAGR and reach US$2.0 Billion by the end of the analysis period. Growth in the Dry Type Current Transformer segment is estimated at 3.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$616.4 Million While China is Forecast to Grow at 8.8% CAGR

The Current Transformers market in the U.S. is estimated at US$616.4 Million in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$628.9 Million by the year 2030 trailing a CAGR of 8.8% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.6% and 5.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR.

Why Are Current Transformers Crucial in Modern Electrical Infrastructure?

Global Current Transformers Market – Key Trends & Drivers Summarized

Current transformers (CTs) serve a vital role in the measurement and monitoring of high-voltage currents in power systems, transforming high current values into manageable levels for metering and protection devices. As electric grids modernize globally, CTs are becoming indispensable components of smart grids, industrial automation, and renewable energy systems. Traditional CTs—electromagnetic devices based on ferromagnetic cores—are now being complemented and, in some applications, replaced by more advanced technologies such as Rogowski coils and optical CTs, which offer higher accuracy, broader bandwidths, and better linearity. These advancements are being driven by the growing complexity of electrical loads, the proliferation of non-linear devices, and the increasing importance of power quality monitoring.

One of the most prominent market trends is the surge in demand for digital and smart CTs that integrate sensors, communication modules, and real-time diagnostics. Utilities and industrial users are upgrading their aging electrical infrastructure with advanced monitoring systems, and CTs are central to this transformation. Another notable shift is the expanding use of CTs in renewable energy installations, particularly wind and solar farms, where precise current measurement is crucial for grid synchronization and performance optimization. Additionally, CTs are seeing increased application in electric vehicle (EV) charging stations and distributed energy resources (DERs), reinforcing their relevance in decentralized and bidirectional power systems.

How Is Technology Transforming CT Design and Performance?

Technological innovation in current transformer design is addressing key limitations of legacy systems while unlocking new functionalities. For example, optical CTs—using the Faraday effect—are gaining ground in high-voltage transmission applications due to their immunity to electromagnetic interference, lightweight design, and wide dynamic range. Rogowski coils, on the other hand, are being favored in power quality monitoring and high-frequency applications because of their flexibility, ease of installation, and absence of magnetic saturation issues. These developments are critical as modern electrical environments, laden with harmonics and transient spikes, demand accurate and fast-reacting sensing solutions.

Another important aspect of technological evolution is the integration of current transformers into intelligent electronic devices (IEDs) and smart meters. Compact, multi-function CTs are now embedded with microprocessors, enabling advanced signal conditioning, fault diagnostics, and communication over protocols like IEC 61850 and Modbus. This trend supports predictive maintenance and real-time grid management. Furthermore, manufacturers are focusing on energy-efficient materials and designs to reduce thermal losses and enhance long-term stability. Innovations in insulating materials, epoxy resin casting, and core geometries are also improving safety and extending the lifespan of CTs used in harsh environments like substations, offshore platforms, and industrial plants.

Where Are Current Transformers Being Deployed Most Intensively?

Current transformers are widely utilized across various end-use sectors, with electric utilities accounting for the largest share due to their extensive use in transmission and distribution networks. In these settings, CTs are used for line protection, load monitoring, and revenue metering. However, significant growth is also emerging from industrial sectors such as manufacturing, oil and gas, and data centers, where uninterrupted power supply and load management are critical. The shift towards Industry 4.0 is increasing the adoption of CTs in factory automation systems, programmable logic controllers (PLCs), and energy management platforms.

Commercial and residential buildings are also becoming significant contributors to CT demand, especially in smart building solutions where energy consumption needs to be tracked, analyzed, and optimized. The rise of microgrids, energy storage systems, and EV charging networks is creating a fresh demand for compact, high-precision CTs suited for dynamic and bi-directional current flows. Furthermore, governmental mandates for energy efficiency, grid modernization programs, and smart city initiatives are catalyzing large-scale deployment of digital metering infrastructure, where CTs play a pivotal measurement and protection role. As these applications become more decentralized and digitally managed, the need for reliable, accurate current measurement devices will only intensify.

What’s Powering the Growth of the Current Transformers Market?

The growth in the current transformers market is driven by several factors related to technological advancements, evolving end-use applications, and the modernization of global energy infrastructure. One of the most important drivers is the increasing integration of renewable energy sources into power grids, necessitating highly accurate and responsive current sensing for grid stability and performance optimization. Additionally, the ongoing transition towards smart grids and digital substations is creating sustained demand for CTs with advanced communication capabilities, wide dynamic range, and high fault tolerance.

Another critical driver is the rising investment in electrical infrastructure across emerging economies, particularly in Asia-Pacific, Africa, and the Middle East, where large-scale electrification and grid expansion programs are underway. These initiatives require CTs for load measurement, transformer protection, and substation automation. In the industrial sector, the implementation of energy efficiency regulations and power quality standards is fueling the adoption of high-precision CTs for monitoring and managing electrical loads. The accelerating growth of electric vehicles and associated charging infrastructure is also opening up new application areas for compact and high-frequency CTs capable of supporting fast-charging stations and vehicle-to-grid systems. Finally, the increasing complexity of power systems—with distributed generation, bidirectional power flows, and high harmonic content—necessitates advanced CT technologies that offer reliable, real-time monitoring and contribute to predictive maintenance and grid resilience.

SCOPE OF STUDY:

The report analyzes the Current Transformers market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Cooling Type (Oil Immersed Current Transformer, Dry Type Current Transformer); Application (Power Distribution Application, Manufacturing Application, Other Applications)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 32 Featured) -

• ABB Ltd.
• Amran Instrument Transformers
• Arteche Group
• CG Power and Industrial Solutions Ltd
• China XD Group
• CR Magnetics
• Electro Industries/GaugeTech
• FLEX-CORE
• General Electric (GE)
• Hyosung Corporation
• Midwest Current Transformer
• Mitsubishi Electric Corporation
• Polycast International
• RESA Power
• Schneider Electric
• Siemens Energy
• Stangenes Industries, Inc.
• Toshiba Corporation
• Transformers and Electricals Kerala Ltd
• WEG Industries

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

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APRIL 2025: NEGOTIATION PHASE

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