Global Optical Current Transformer Market size was valued at USD 33.14 Mn in 2022 and is expected to reach USD 60.07 Mn by 2029, at a CAGR of 8.2 %.Overview
Optical Current transformer is an alternative to the existing conventional current transformer. It provides an advanced measurement solution for metering as well as protection applications on the basis of cutting-edge patented optical sensing technology. An optical Current Transformer is a sensor that directly or indirectly uses optical sensing methods for measuring electric currents. Optical Current Transformer has no electromagnetic interference and high electrical solutions. They are used to measure polarization rotation due to the Faraday Effect. The bottom-up approach was used to estimate the Optical Current Transformer market size. The market revenue is determined by the primary and secondary data collection methods. The market report focuses on the drivers, challenges and major restraints of the Optical Current Transformer industry.To know about the Research Methodology :- Request Free Sample Report
Optical Current Transformer Market Dynamics
Market Growth Drivers Increasing demand for high voltage Devices in the transmission and power generation sectors to boost the market growth. The purpose of the transmission of power at high voltages is used to increase efficiency. Over the long distance, there is an inherent loss of energy along the way. The high voltage transmission reduces the amount of power lost when the electricity flows from one location to the next. The higher the voltage the lower the current and the lower the current leads to less loss in the conductors. High voltage substation is used in the power system in which the power has been pooled from generating sources, distributed and transformed to the load points. In power distribution, the high voltages range from 115,000 to 230,000VAC and Extra-high voltages range from 345,000 to 765, 000VAC. The high-voltage power transmission reduces the volume of the conductor, decreases the percentage line drop and increases transmission efficiency. The high voltage produces the high output voltage including testing the performance of electrical insulation of power devices. As a result, increasing demand for high-voltage devices in the transmission, Distribution Station and power generation sectors due to their high output fuel the Optical Current Transformer Market growth. The growing use of Optical Current Transformer in digital transmission stations to fuel market growth Optical current transformers have many beneficial properties as compared to the conventional current transformer. They have been used to improve safety, reduce environmental impact and improve the steady state and transient performance. The mixture of the optical current transformers and a process bus makes the design of digital substations facilitates flexible cost reductions. The digital substations have been more vulnerable than the conventional substations due to the outdoor placement of electronics. The high voltage distribution station used for medium voltage lines has to be taken through confined spaces new building sites and congested houses. The low weight of the Optical Current Transformers facilitates the integration with the primary equipment that permits the space for the substation yards. Optical current transformers have to be suitable for application in digital transmission substations. The optical current transformer is widely used in digital transmission due to its high voltage boost the market growth. Optical Current Transformer Market Restraints • Long Run stability and errors in Accuracy of optical Current Transformer • Complexity in the maintenance of the specialty reformers • Lack of Skilled Labor • Hoops in the optical fibers rising the influence of temperatureOptical Current Transformer Market Segment Analysis
Optical Current Transformer Market Segment-wise insights are categorized into type, packaging type, application, distribution Channel and region to understand the market dynamics and Optical Current Transformer industry penetration. The market is broadly classified into North America, Europe, Asia Pacific and South America Middle East & Africa to study the regional-wise Optical Current Transformer market potential. On the basis of the product, the market is categorized into the Magnetic Optical Current Transformer and Fiber Optical Current Transformer. The Magnetic Optical Current Transformer segment held the market in 2022 and is expected to grow at the highest CAGR of the market over the forecast period. The magnetic optical current transformer has high voltage tolerance and less saturation state, it has many applications in the power stations industry and instrumentation. The Magnetic Optical Current Transformer is designed to operate in a transparent manner with modern electronic meters and digital relays which have been adopted for a low-energy analog single interface. It makes the output single insensitive to vibration and shock and it is more suitable for outdoor types such as substations. Magnetic Optical Current Transformer has no risks of explosion and fires, wide frequency response, high immunity to electromagnetic interferences, large range of dynamic. It measures the electric current by using the Faradays effect. As a result, Magnetic Optical Current Transformer drives market growth.On the basis of the Types, the market is segmented into the Faraday Effect, Interferometric principle, Bragg Grating and Micromechanical Sensors with Optical readout. Faraday Effect is the more dominant type of the Optical Current Transformer Market. Basically, the Optical Current Transformer is used to measure polarization rotation due to the Faraday Effect. Faraday Effect is the rotation of the polarization state of light and when it passes through the magnetic field induced by an electric current. It is used for the construction of optical isolators for fiber-optic telecommunication systems. Faraday Effect provides an accurate and easier way of the current measurement. It is used to measure optical rotatory power and remote sensation of magnetic fields.
On the basis of Current Type, the market is categorized into Alternating Current (AC) and Direct Current (DC). Alternating Current (AC) held the market with the largest market share. Alternating Current (AC) has been transformed to higher or lower voltage levels and it is simpler to step up and down voltage. It has been more efficient and thus, it is used for the transmission of power. AC transformer is an electrical device that is applied to change the voltage in alternating current (AC) electrical circuits.
Optical Current Transformer Market Regional Insights
Technological advancements in oil and gas insulation to drive the Optical Current Transformer Market growth in Europe Europe dominated the Optical Current Transformer Market with the largest market revenue and is expected to continue its dominance over the forecast period. The regional market is driven by the government’s stringent regulations for reducing greenhouse gas emissions and technological developments, rapid urbanization and the presence of key players. In Europe, oil-immersed inductive voltage transformers are developed which are compliant with all national as well as international standards, available from 72.5kV up to 550kV and have enormous control of the internal and external insulation stresses, suitable for line discharging, Applicable as a low-cost alternative to small power transformers and high use of corrosion resistant materials. North America is expected to grow Optical Current Transformer Market during the forecast period. The growing use of electric equipment, rising use of the smart grid, increasing demand for the optical current transformer for power generation the increase in the number of power stations and rising the consumption of electricity.Competitive Landscapes
The information on the competitive environment such as market share and positioning of key players is included in the market report. The Competitive Landscape of the Optical Current Transformer market covers the number of key companies, company size, their strengths, weaknesses, barriers and threats. It also focuses on the power of the company’s competitive rivals, potential, new market entrants, customers, suppliers and substitute products that drive the profitability of the companies in the Optical Current Transformer industry. The global Optical Current Transformer markets include several market players at the country, regional and global levels. Some of the key players are adopted strategies including pricing investments, expansion of the product portfolio, mergers and acquisition collaboration, agreements and geographical expansion for the enhancement of the Optical Current Transformer industry. The companies are investing in research and development activities regarding Optical Current Transformers. ARTECHE’s SDO-OCT is a passive and modular optical current transformer that has been used for any voltage level. This device is based on the optical current transducer (SDO-ICT), the insulator and the merging unit (SDO MU). SDO-ICT is a fully passive optical transducer and it provides a digital measurement solution for metering and protection applications. The passive interferometry transducer has been offered Cl 0.2 accuracy over an unlimited range of primary currents. The SDO-ICT transducer has to be mounted with different types of post-insulator which cover any insulation level.Optical Current Transformer Market Scope: Inquire before buying
Optical Current Transformer Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2017 to 2022 Market Size in 2022: US $ 33.14 Mn. Forecast Period 2023 to 2029 CAGR: 8.2% Market Size in 2029: US $ 60.07 Mn. Segments Covered: by Product • Magnetic Optical Current Transformer • Fiber Optical Current Transformer by Design Type • Electronics Part o Analog Model o Digital Model
• Opticalby Type • Faraday Effect • Interferometric principle • Bragg Grating • Micromechanical Sensors with Optical readout by Current Type • Alternating Current(AC) • Direct Current((DC) by Voltage range • Up to 36 kV • 36 kV to 200 kV • 200 KV to 400 kV • Above 400 kV by Current Range • Up to 2500A • 2500A to 3500A • 3500A to 4500A • Above 4500A by Detection Method • Polari metric Detection • Interferometry Detection by Functionality • Metering • Fault Monitoring • Equipment Diagnostic • Others by Application • Power Transmission Line • Electric Power System • Digital Substations • Others by End-Use • Power and Distribution • Industrial • Commercial • Railway and Metro • Others Optical Current Transformer Market, by Region
• North America (United States, Canada and Mexico) • Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and the Rest of Europe) • Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and the Rest of APAC) • South America (Brazil, Argentina Rest of South America) • Middle East & Africa (South Africa, GCC, Egypt, Nigeria and the Rest of ME&A)Optical Current Transformer Key Players
• ARTECHE • TRENCH Group • ABB Group • GE Grid Solution • JSC PROFOTECH • Beijing Daelim Green EP Tech Co. • NR Electric Co • Hitachi energy ltd • sieyuan electric co. ltd • ka factor group • NR Electric Co., • Koncar Power Transformers Ltd., • RITZ INSTRUMENT TRANSFORMERS GMBH • Koncar Power Transformers Ltd., Frequently Asked Questions: 1] What is the growth rate of the Global Optical Current Transformer Market? Ans. The Global Optical Current Transformer Market is growing at a significant rate of 8.2 % during the forecast period. 2] Which region is expected to dominate the Global Optical Current Transformer Market? Ans. Europe is expected to dominate the Optical Current Transformer Market during the forecast period. 3] What is the expected Global Optical Current Transformer Market size by 2029? Ans. The Optical Current Transformer Market size is expected to reach USD 60.07 Mn by 2029. 4] Which are the top players in the Global Optical Current Transformer Market? Ans. The major top players in the Global Optical Current Transformer Market are ARTECH, TRENCH Group, ABB Group, GE Grid Solution, JSC PROFOTECH, Beijing Daelim Green EP Tech Co.,NR Electric Co and others. 5] What are the factors driving the Global Optical Current Transformer Market growth? Ans. The Increasing demand for high-voltage Devices in transmission and power generation and growing use of Optical Current transformers in digital transmission stations are expected to drive market growth during the forecast period.
1. Optical Current Transformer Market: Executive Summary 2. Optical Current Transformer Market: Competitive Landscape • MMR Competition Matrix • Competitive Landscape • Key Players Benchmarking • Market Structure o Market Leaders o Market Followers o Emerging Players • Consolidation of the Market • Optical Current Transformer Market: Dynamics • Market Trends by Region o North America o Europe o Asia Pacific o Middle East and Africa o South America • Market Drivers by Region o North America o Europe o Asia Pacific o Middle East and Africa o South America • Market Restraints • Market Opportunities • Market Challenges • PORTER’s Five Forces Analysis • PESTLE Analysis • Value Chain Analysis • Regulatory Landscape by Region o North America o Europe o Asia Pacific o Middle East and Africa o South America 3. Optical Current Transformer Market Size and Forecast by Segments (by Value USD and Volume Units ) • Optical Current Transformer Market Size and Forecast, by Product (2022-2029) o Magnetic Optical Current Transformer o Fiber Optical Current Transformer • Optical Current Transformer Market Size and Forecast, by Design Type (2022-2029) o Electronics Part o Optical • Optical Current Transformer Market Size and Forecast, by Type (2022-2029) o Faraday Effect o Interferometric principle o Bragg Grating o Micromechanical Sensors with Optical readout • Optical Current Transformer Market Size and Forecast, by Current Type (2022-2029) o Alternating Current(AC) o Direct Current((DC) • Optical Current Transformer Market Size and Forecast, by Current Range (2022-2029) o Up to 2500A o 2500A to 3500A o 3500A to 4500A o Above 4500A • Optical Current Transformer Market Size and Forecast, by Voltage Range (2022-2029) o Up to 36 kV o 36 kV to 200 kV o 200 KV to 400 kV o Above 400 kV • Optical Current Transformer Market Size and Forecast, by Detection Method (2022-2029) o Polari metric Detection o Interferometry Detection • Optical Current Transformer Market Size and Forecast, by Functionality (2022-2029) o Metering o Fault Monitoring o Equipment Diagnostic o Others • Optical Current Transformer Market Size and Forecast, by Application (2022-2029) o Power Transmission Line o Electric Power System o Digital Substations o Others • Optical Current Transformer Market Size and Forecast, by End-Use (2022-2029) o Power and Distribution o Industrial o Commercial o Railway and Metro o Others • Optical Current Transformer Market Size and Forecast, by Region (2022-2029) o North America o Europe o Asia Pacific o Middle East and Africa o South America 4. North America Optical Current Transformer Market Size and Forecast (by Value USD and Volume Units ) • North America Optical Current Transformer Market Size and Forecast, by Product (2022-2029) o Magnetic Optical Current Transformer o Fiber Optical Current Transformer • North America Optical Current Transformer Market Size and Forecast, by Design Type (2022-2029) o Electronics Part o Optical • North America Optical Current Transformer Market Size and Forecast, by Types (2022-2029) o Faraday Effect o Interferometric principle o Bragg Grating o Micromechanical Sensors with Optical readout • North America Optical Current Transformer Market Size and Forecast, by Current Type (2022-2029) o Alternating Current(AC) o Direct Current((DC) • North America Optical Current Transformer Market Size and Forecast, by Current Range (2022-2029) o Up to 2500A o 2500A to 3500A o 3500A to 4500A o Above 4500A • North America Optical Current Transformer Market Size and Forecast, by Voltage Range (2022-2029) o Up to 36 kV o 36 kV to 200 kV o 200 KV to 400 kV o Above 400 kV • North America Optical Current Transformer Market Size and Forecast, by Detection Method (2022-2029) o Polari metric Detection o Interferometry Detection • North America Optical Current Transformer Market Size and Forecast, by Functionality (2022-2029) o Metering o Fault Monitoring o Equipment Diagnostic o Others • North America Optical Current Transformer Market Size and Forecast, by Application (2022-2029) o Power Transmission Line o Electric Power System o Digital Substations o Others • North America Optical Current Transformer Market Size and Forecast, by End-Users (2022-2029) o Power and Distribution o Industrial o Commercial o Railway and Metro o Others • North America Optical Current Transformer Market Size and Forecast, by Country (2022-2029) o United States o Canada o Mexico 5. Europe Optical Current Transformer Market Size and Forecast (by Value USD and Volume Units ) • Europe Optical Current Transformer Market Size and Forecast, by Product (2022-2029) o Magnetic Optical Current Transformer o Fiber Optical Current Transformer • Europe Optical Current Transformer Market Size and Forecast, by Design Type (2022-2029) o Electronics Part o Optical • Europe Optical Current Transformer Market Size and Forecast, by Types (2022-2029) o Faraday Effect o Interferometric principle o Bragg Grating o Micromechanical Sensors with Optical readout • Europe Optical Current Transformer Market Size and Forecast, by Current Type (2022-2029) o Alternating Current(AC) o Direct Current((DC) • Europe Optical Current Transformer Market Size and Forecast, by Current Range (2022-2029) o Up to 2500A o 2500A to 3500A o 3500A to 4500A o Above 4500A • Europe Optical Current Transformer Market Size and Forecast, by Voltage Range (2022-2029) o Up to 36 kV o 36 kV to 200 kV o 200 KV to 400 kV o Above 400 kV • Europe Optical Current Transformer Market Size and Forecast, by Detection Method (2022-2029) o Polari metric Detection o Interferometry Detection • Europe Optical Current Transformer Market Size and Forecast, by Functionality (2022-2029) o Metering o Fault Monitoring o Equipment Diagnostic o Others • Europe Optical Current Transformer Market Size and Forecast, by Application (2022-2029) o Power Transmission Line o Electric Power System o Digital Substations o Others • Europe Optical Current Transformer Market Size and Forecast, by End-Users (2022-2029) o Power and Distribution o Industrial o Commercial o Railway and Metro o Others • Europe Optical Current Transformer Market Size and Forecast, by Country (2022-2029) o UK o France o Germany o Italy o Spain o Sweden o Austria o Rest of Europe 6. Asia Pacific Optical Current Transformer Market Size and Forecast (by Value USD and Volume Units ) • Asia Pacific Optical Current Transformer Market Size and Forecast, by Product (2022-2029) o Magnetic Optical Current Transformer o Fiber Optical Current Transformer • Asia Pacific Optical Current Transformer Market Size and Forecast, by Design Type (2022-2029) o Electronics Part o Optical • Asia Pacific Optical Current Transformer Market Size and Forecast, by Type (2022-2029) o Faraday Effect o Interferometric principle o Bragg Grating o Micromechanical Sensors with Optical readout • Asia Pacific Optical Current Transformer Market Size and Forecast, by Current Type (2022-2029) o Alternating Current(AC) o Direct Current((DC) • Asia Pacific Optical Current Transformer Market Size and Forecast, by Current Range (2022-2029) o Up to 2500A o 2500A to 3500A o 3500A to 4500A o Above 4500A • Asia Pacific Optical Current Transformer Market Size and Forecast, by Voltage Range (2022-2029) o Up to 36 kV o 36 kV to 200 kV o 200 KV to 400 kV o Above 400 kV • Asia Pacific Optical Current Transformer Market Size and Forecast, by Detection Method (2022-2029) o Polari metric Detection o Interferometry Detection • Asia Pacific Optical Current Transformer Market Size and Forecast, by Functionality (2022-2029) o Metering o Fault Monitoring o Equipment Diagnostic o Others • Asia Pacific Optical Current Transformer Market Size and Forecast, by Application (2022-2029) o Power Transmission Line o Electric Power System o Digital Substations o Others • Asia Pacific Optical Current Transformer Market Size and Forecast, by End-Use (2022-2029) o Power and Distribution o Industrial o Commercial o Railway and Metro o Others • Asia Pacific Optical Current Transformer Market Size and Forecast, by Country (2022-2029) o China o S Korea o Japan o India o Australia o Indonesia o Malaysia o Vietnam o Taiwan o Bangladesh o Pakistan o Rest of Asia Pacific 7. Middle East and Africa Optical Current Transformer Market Size and Forecast (by Value USD and volume Units) • Middle East and Africa Optical Current Transformer Market Size and Forecast, by Product (2022-2029) o Magnetic Optical Current Transformer o Fiber Optical Current Transformer • Middle East and Africa Optical Current Transformer Market Size and Forecast, by Design Type (2022-2029) o Electronics Part o Optical • Middle East and Africa Optical Current Transformer Market Size and Forecast, by Type (2022-2029) o Faraday Effect o Interferometric principle o Bragg Grating o Micromechanical Sensors with Optical readout • Middle East and Africa Optical Current Transformer Market Size and Forecast, by Current Type (2022-2029) o Alternating Current(AC) o Direct Current((DC) • Middle East and Africa Optical Current Transformer Market Size and Forecast, by Current Range (2022-2029) o Up to 2500A o 2500A to 3500A o 3500A to 4500A o Above 4500A • Middle East and Africa Optical Current Transformer Market Size and Forecast, by Voltage Range (2022-2029) o Up to 36 kV o 36 kV to 200 kV o 200 KV to 400 kV o Above 400 kV • Middle East and Africa Optical Current Transformer Market Size and Forecast, by Detection Method (2022-2029) o Polari metric Detection o Interferometry Detection • Middle East and Africa Optical Current Transformer Market Size and Forecast, by Functionality (2022-2029) o Metering o Fault Monitoring o Equipment Diagnostic o Others • Middle East and Africa Optical Current Transformer Market Size and Forecast, by Application (2022-2029) o Power Transmission Line o Electric Power System o Digital Substations o Others • Middle East and Africa Optical Current Transformer Market Size and Forecast, by End-Use (2022-2029) o Power and Distribution o Industrial o Commercial o Railway and Metro o Others • Middle East and Africa Optical Current Transformer Market Size and Forecast, by Country (2022-2029) o South Africa o GCC o Egypt o Nigeria o Rest of ME&A 8. South America Optical Current Transformer Market Size and Forecast (by Value USD and Volume Units) • South America Optical Current Transformer Market Size and Forecast, by Product (2022-2029) o Magnetic Optical Current Transformer o Fiber Optical Current Transformer • South America Optical Current Transformer Market Size and Forecast, by Design Type (2022-2029) o Electronics Part o Optical • South America Optical Current Transformer Market Size and Forecast, by Type (2022-2029) o Faraday Effect o Interferometric principle o Bragg Grating o Micromechanical Sensors with Optical readout • South America Optical Current Transformer Market Size and Forecast, by Current Type (2022-2029) o Alternating Current(AC) o Direct Current((DC) • South America Optical Current Transformer Market Size and Forecast, by Current Range (2022-2029) o Up to 2500A o 2500A to 3500A o 3500A to 4500A o Above 4500A • South America Optical Current Transformer Market Size and Forecast, by Voltage Range (2022-2029) o Up to 36 kV o 36 kV to 200 kV o 200 KV to 400 kV o Above 400 kV • South America Optical Current Transformer Market Size and Forecast, by Detection Method (2022-2029) o Polari metric Detection o Interferometry Detection • South America Optical Current Transformer Market Size and Forecast, by Functionality (2022-2029) o Metering o Fault Monitoring o Equipment Diagnostic o Others • South America Optical Current Transformer Market Size and Forecast, by Application (2022-2029) o Power Transmission Line o Electric Power System o Digital Substations o Others • South America Optical Current Transformer Market Size and Forecast, by End -Use (2022-2029) o Power and Distribution o Industrial o Commercial o Railway and Metro o Others • South America Optical Current Transformer Market Size and Forecast, by Country (2022-2029) o Brazil o Argentina o Rest of South America 9. Company Profile: Key players • ARTECHE o Company Overview o Financial Overview o Business Portfolio o SWOT Analysis o Business Strategy o Recent Developments • ARTECHE • TRENCH Group • ABB Group • GE Grid Solution • JSC PROFOTECH • Beijing Daelim Green EP Tech Co. • NR Electric Co • Hitachi energy ltd • sieyuan electric co. ltd • ka factor group • NR Electric Co., • Koncar Power Transformers Ltd., • RITZ INSTRUMENT TRANSFORMERS GMBH • Koncar Power Transformers Ltd., 10. Key Findings 11. Industry Recommendation