Global Magneto Optic Current Transformer Market: Overview
In the power system instrumentation, the magneto optic current transformer plays a very crucial role. In order to measure the electric current, power stations and substations make use of the current transformers that are of inductive type having windings and core. The magneto optic current transformer is used in order to assist the smooth flow of the current with a high voltage. The use of the magneto optic current transformers are widening in the instrumentation and power station industry due to its features such as resistance to the high voltage and nonexistence of the saturation effects.
Global Magneto Optic Current Transformer Market: Segmentation
The market for magneto optic current transformer is globally fragmented into its application and regions. Based on the application, the global market is segregated into transformer, power systems and instrumentations, modern electronic meters, transmission line- bus, breaker- or distribution schemes, network applications, and electrical high voltage (EHV) substations. The market for magneto optic current transformer is geographically diversified into Asia Pacific, Western Europe, Eastern Europe, the Middle East and Africa, North America, and Latin America.
Global Magneto Optic Current Transformer Market: Growth Factors
The demand for the advanced electrical equipment such as magneto optic current transformer will increase in the coming years, owing to the limitations of the conventional current transformers such as the electromagnetic interference, under the high current there is saturation of the magnetic field, and complex cooling structures and insulation are driving the growth of the market. The other factors that will contribute to the magneto optic current transformer market growth are the different fundamental properties of magneto optic current transformer which include the ability to measure the AC & DC, the resistance against electromagnetic interferences, and nonexistence of the saturation effects. In addition to above, the other features of magneto optic current transformer that are fuelling the market growth are low power consumption and electrical isolation, which are opening up new beneficial opportunities for the market players to invest in this industry.
Global Magneto Optic Current Transformer Market: Regional Analysis
The market growth in the magnetic optic current transformer is increasing in the developing regions such as Europe and North America due to the increased growth in the use of the applications of electric equipment. The other factor that is driving the magneto optic current transformer market is the rise in the global electrical consumption and distribution. The market in Asia Pacific region is anticipated to grow at a tremendous rate in the future years, due to the growing use of industrial utilities and the significant development that is made in the electrical components.
Global Magneto Optic Current Transformer Market: Competitive Players
The key market players that are involved in the magnetic optic current transformer market include Asea Brown Boveri (ABB) Ltd., Profotech, NR Electric Co., Ltd., and others.