Asia Pacific Current Transformer Market Size - By Cooling (Dry Type, Oil Immersed), By Product (Wound Type, Toroidal, Bar Type), By Voltage Rating (≤ 33 kV,> 33 kV to ≤ 66 kV,> 66 kV), By Application (Power Distribution, Manufacturing) & Forec

Asia Pacific Current Transformer Market Size - By Cooling (Dry Type, Oil Immersed), By Product (Wound Type, Toroidal, Bar Type), By Voltage Rating (≤ 33 kV,> 33 kV to ≤ 66 kV,> 66 kV), By Application (Power Distribution, Manufacturing) & Forecast, 2023 - 2032

Asia Pacific current transformer market size is projected to witness over 6.6% CAGR during 2023-2032. The expanding energy and power sector fueled by the rising rate of industrialization and urbanization is increasing the demand for reliable current measurement solutions in the region.

The growing adoption of renewable energy sources, such as solar and wind power is necessitating the precise current monitoring for grid integration. The development of smart grids and infrastructure upgrades is further driving innovations and capacity expansions in current transformers to enhance electrical efficiency. For instance, in June 2023, Arteche launched its new plant in Turkey to double down its transformer production capacity across the Asian market while reinforcing its footprint in the region. The presence of stringent regulations for electrical safety and the dire need to monitor power quality will also fuel the product demand in the region.

The Asia Pacific current transformer industry is categorized based on cooling, product, voltage rating, and application.

Based on cooling, the market share from the dry cooling segment will reflect substantial CAGR from 2023-2032, driven by the increasing demand for energy-efficient cooling solutions and environmentally friendly technologies. Moreover, the growing need for reduced water consumption in power generation, particularly in regions with water scarcity will further fuel the segment growth.

With respect to product, the wound type segment will accumulate sizeable share of the Asia Pacific current transformer market during the analysis period. The higher accuracy, reliability, and suitability of wound-type transformers for medium and high-voltage applications will drive the add to the product adoption.

The industry size from the >66 kV voltage rating segment is slated to grow at significant CAGR through 2032. The growth can be attributed to the rising demand for high-voltage power transmission, grid expansion, and renewable energy integration in the region. The surging need for accurate monitoring and protection in large-scale electrical systems and substations will also drive the adoption of >66 kV current transformers in the region.