The Wound type current transformer market size was valued at USD 1230 million in 2024 and is anticipated to reach USD 1982.7 million by 2032, at a CAGR of 6.15 % during the forecast period (2024-2032).
REPORT ATTRIBUTE
DETAILS
Historical Period
2020-2023
Base Year
2024
Forecast Period
2025-2032
Wound Type Current Transformer Market Size 2024
USD 1230 million
Wound Type Current Transformer Market, CAGR
6.15%
Wound Type Current Transformer Market Size 2032
USD 1982.7 million
The market is propelled by increasing investments in power grid modernization, growing renewable energy integration, and the need for reliable current measurement devices in smart grids. Rising focus on safety, accuracy, and cost efficiency further strengthens demand. The surge in industrial automation and the expansion of urban infrastructure also encourage the adoption of wound type current transformers. Manufacturers are emphasizing compact designs and improved insulation technologies to enhance performance and meet evolving energy standards.
Regionally, Asia-Pacific dominates the wound type current transformer market due to rapid industrialization, strong electricity demand, and large-scale infrastructure development, especially in China and India. North America and Europe follow, supported by smart grid projects and regulatory compliance. Emerging markets in Latin America and the Middle East & Africa are witnessing increasing adoption, driven by expanding power distribution networks and renewable energy projects.
Market Insights:
The wound type current transformer market was valued at USD 1230 million in 2024 and is projected to reach USD 1982.7 million by 2032, reflecting steady growth driven by power grid modernization and industrial expansion.
Rising demand for renewable energy integration strengthens adoption, with these transformers ensuring accurate current measurement for solar, wind, and distributed power systems.
Focus on safety, accuracy, and regulatory compliance drives innovation in insulation, compact designs, and digital compatibility, supporting adoption across utilities and industries.
Key challenges include high installation costs, maintenance complexity, and competition from alternative transformer technologies, which push manufacturers to emphasize differentiation through durability and efficiency.
Regionally, Asia-Pacific leads with 42% market share, followed by North America at 28% and Europe at 22%, supported by smart grid investments, renewable energy projects, and industrial automation initiatives.
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Rising Demand for Power Grid Modernization and Smart Infrastructure:
The wound type current transformer market benefits from global initiatives to modernize power grids and enhance grid reliability. Utilities and governments are investing in smart infrastructure to ensure stable energy supply and efficient current monitoring. Wound type transformers offer precise measurement and high durability, making them indispensable for medium- and low-voltage systems. It supports grid automation, load management, and fault detection, aligning with growing smart city projects.
For instance, Mitsubishi Electric supplied 750 intelligent current transformers for Tokyo Electric Power Company’s (TEPCO) smart grid pilot in 2024, which enabled precise monitoring across 66 kV distribution lines and improved outage response time by 40%.
Expansion of Renewable Energy Integration Across Power Systems:
Increasing reliance on renewable energy drives significant demand for accurate current monitoring devices. The wound type current transformer market gains traction as solar, wind, and distributed energy resources expand their share in the global power mix. These transformers provide essential current measurement for inverters, substations, and grid integration equipment. It enables safe and efficient power flow management while ensuring compliance with energy regulations.
For instance, General Electric installed CT-based monitoring at the wind-powered 338 MW Walnut Ridge Wind Farm in Illinois, helping manage grid compliance and real-time current balancing.
Growing Focus on Safety, Accuracy, and Compliance Standards:
The need for safety and accuracy in electrical systems fuels the market growth. The wound type current transformer market responds to stringent regulatory requirements for insulation performance, measurement accuracy, and overload protection. Industries adopt these transformers to reduce risks of short circuits, overloads, and operational inefficiencies. It delivers reliable performance under diverse environmental conditions, supporting mission-critical applications in utilities and industries.
Industrial Automation and Expanding Urban Infrastructure Projects:
Rapid industrial automation and urban development significantly boost market demand. The wound type current transformer market plays a vital role in ensuring reliable energy distribution in factories, commercial complexes, and residential projects. Expansion of industrial facilities and high-rise urban infrastructure creates strong demand for precise current monitoring. It strengthens operational efficiency and reduces downtime risks, supporting the long-term growth of electrical networks.
Market Trends:
Adoption of Smart Grid Technologies and Digital Monitoring Solutions:
The wound type current transformer market is witnessing a clear shift toward integration with smart grid technologies. Growing investments in digital substations and intelligent monitoring systems increase demand for transformers that deliver high accuracy and seamless compatibility with digital interfaces. Manufacturers are focusing on designs that support remote monitoring, predictive maintenance, and integration with IoT-enabled platforms. It enables utilities to detect anomalies, manage loads effectively, and enhance energy efficiency. The trend also reflects a strong push for energy resilience and reliability in urban power networks. Utilities prefer transformers that combine durability with smart features to reduce operational risks and extend service life.
For instance, Siemens commissioned its SF6-free digital current transformers in Berlin’s urban grid, achieving an accuracy class of 0.05 and transmitting over 1,200 data points per second to its grid-management platform.
Sustainability-Oriented Manufacturing and Compact Design Innovations:
Sustainability is shaping product development in the wound type current transformer market, with manufacturers adopting eco-friendly materials and processes. Compact and lightweight designs are increasingly favored to support ease of installation in modern substations and urban infrastructure projects. It drives innovation in insulation technologies, core materials, and modular product configurations. The trend also highlights rising demand from renewable energy projects that require high-performance yet space-efficient solutions. Companies are aligning products with international standards for energy efficiency and safety compliance. This focus on sustainable and compact solutions reflects the broader industry shift toward environmentally responsible power equipment and flexible deployment in diverse applications.
For instance, ABB’s compact current transformer design reduced installation footprint by 35 centimeters, streamlining deployment in space-constrained urban substations.
Market Challenges Analysis:
High Installation Costs and Maintenance Complexity in Power Systems:
The wound type current transformer market faces challenges related to high installation costs and maintenance requirements. Integrating these transformers into existing grids often demands skilled labor, specialized tools, and downtime, which increase project expenses. It creates barriers for small-scale utilities and industries with limited budgets. Maintenance also becomes complex in harsh environments where exposure to dust, heat, or moisture can impact performance. Limited awareness among end users about long-term benefits often leads to reluctance in investing in advanced designs. These factors collectively slow down widespread adoption across emerging economies.
Competition from Alternative Technologies and Market Fragmentation:
Intense competition from alternative transformer technologies presents another challenge for the wound type current transformer market. Solid-core and split-core transformers, with easier installation and cost advantages, often reduce demand for wound type solutions in certain applications. It pressures manufacturers to justify value through higher accuracy, durability, and safety compliance. Market fragmentation further complicates growth, with numerous regional players offering low-cost products that dilute margins. Standardization gaps across regions add complexity for global manufacturers aiming to expand their presence. These issues demand continuous innovation and strong differentiation strategies to sustain competitiveness in the evolving power sector.
Market Opportunities:
Expanding Role in Renewable Energy and Smart Grid Integration:
The wound type current transformer market has strong opportunities in renewable energy expansion and smart grid deployment. Growing investments in solar and wind projects demand accurate current measurement and protection devices for grid stability. It supports efficient power flow, fault detection, and compliance with evolving grid codes. Smart grid adoption across developed and emerging economies creates new demand for digitally compatible transformers. Integration with IoT-based monitoring systems further enhances the value proposition. Companies that deliver compact, high-accuracy solutions with smart features can capture significant market share in this segment.
Rising Demand Across Industrial Automation and Urban Infrastructure:
Industrial automation and urbanization trends open new avenues for the wound type current transformer market. Modern factories, commercial complexes, and residential projects require precise current monitoring to ensure uninterrupted power distribution. It enables operators to reduce downtime, improve energy efficiency, and enhance equipment safety. Expanding metro rail projects, airports, and data centers also drive consistent demand for advanced current transformers. Emerging economies, with their rapid urban infrastructure growth, represent high-potential markets. Manufacturers focusing on customized, durable, and cost-effective products are well-positioned to benefit from these opportunities.
Market Segmentation Analysis:
By Type:
The wound type current transformer market is segmented by type into bar primary, wound primary, and others. Wound primary transformers dominate due to their precision in current measurement and adaptability across low- and medium-voltage applications. It provides higher accuracy for protective relays and metering devices, making it a preferred choice in utilities and industries. Bar primary types are gaining traction in compact installations where cost efficiency is prioritized. Manufacturers continue to refine both segments to meet evolving safety and performance standards.
For instance, Schneider Electric’s compact bar primary current transformer for the Easergy range supports up to 125 amperes in confined switchgear setups, ensuring both reduced footprint and reliability in distribution panels.
By Application:
By application, the wound type current transformer market serves power utilities, industrial automation, commercial infrastructure, and renewable energy projects. Power utilities account for the largest demand, driven by expansion of smart grids and substation upgrades. It plays a vital role in ensuring safe and accurate current measurement for fault detection and protection systems. Industrial facilities rely on these transformers to maintain operational reliability and reduce downtime. Renewable energy projects also create strong opportunities as they require precise current monitoring for grid integration.
For instance, Topaz Solar Farms is a 550-megawatt photovoltaic power plant in San Luis Obispo County, California. Topaz Solar Farms is synchronized to the California ISO grid and is one of the largest single solar projects in the world.
By Technology:
In terms of technology, conventional wound type current transformers lead the market due to their widespread adoption and proven durability. It remains the standard for many utilities and industrial users, supported by cost-effectiveness and ease of integration. However, digital and IoT-enabled designs are emerging rapidly, offering advanced features such as remote monitoring and predictive maintenance. These innovations align with the shift toward smart grid infrastructure and energy-efficient systems. The adoption of hybrid models combining traditional reliability with digital compatibility is expected to grow steadily.
Segmentations:
By Type:
Bar Primary
Wound Primary
Others
By Application:
Power Utilities
Industrial Automation
Commercial Infrastructure
Renewable Energy Projects
By Technology:
Conventional
Digital
IoT-Enabled
Hybrid
By Region:
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
South-east Asia
Rest of Asia Pacific
Latin America
Brazil
Argentina
Rest of Latin America
Middle East & Africa
GCC Countries
South Africa
Rest of the Middle East and Africa
Regional Analysis:
Asia-Pacific:
Asia-Pacific holds the largest market share of the wound type current transformer market at 42%, supported by rapid industrialization and rising electricity demand. China, India, Japan, and South Korea are the key contributors, driven by large-scale power distribution projects and renewable energy integration. It benefits from government-led investments in smart grid development and urban infrastructure expansion. Manufacturers in the region focus on cost-efficient production and high-volume supply to meet diverse utility needs. Strong demand from factories, commercial buildings, and metro projects further boosts adoption. The region’s dominance is reinforced by supportive policies for energy efficiency and digital transformation in power systems.
North America:
North America commands a significant market share of the wound type current transformer market at 28%, fueled by advanced energy infrastructure and modernization initiatives. The United States leads with extensive adoption of smart grids and renewable integration projects. It benefits from regulatory emphasis on safety standards, accurate measurement, and reliability in power networks. The demand for digitally compatible and IoT-enabled solutions accelerates product innovation. Canada supports growth through investments in clean energy and industrial automation. Expansion of data centers and electrification of transport further create demand for precise current monitoring solutions across the region.
Europe :
Europe secures a notable market share of the wound type current transformer market at 22%, strengthened by its commitment to energy transition and regulatory compliance. Countries such as Germany, France, and the United Kingdom lead adoption through renewable integration and modernization of aging power infrastructure. It responds to stringent EU standards on accuracy, efficiency, and environmental sustainability. Investment in offshore wind projects and smart city initiatives drives consistent product demand. Industrial automation and the expansion of advanced manufacturing facilities add further opportunities. The region’s focus on sustainability and high-performance solutions keeps it a competitive market for global suppliers.
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The wound type current transformer market is highly competitive, shaped by global leaders and regional specialists offering diverse product portfolios. Key players include Entes Electronics, CIC, Ritz, Arteche, Secure Meters, REDUR, Hutegy, GAE, and Schneider Electric, each focusing on accuracy, durability, and regulatory compliance. It is characterized by steady demand from utilities, industrial automation, and renewable projects, which drives innovation in insulation technology, compact designs, and digital integration. Established companies leverage advanced R&D and global distribution networks to secure long-term contracts with utilities and industries. Regional manufacturers compete on cost efficiency and customization, particularly in emerging economies. Competitive dynamics emphasize continuous product differentiation, partnerships, and compliance with international energy standards to maintain market presence and strengthen customer trust.
Market Concentration & Characteristics:
The wound type current transformer market demonstrates moderate concentration with the presence of both global manufacturers and regional suppliers competing on product quality, accuracy, and cost efficiency. It is characterized by consistent demand from utilities, industrial facilities, and infrastructure projects requiring precise current monitoring and protection. Leading players invest in compact designs, advanced insulation materials, and digital compatibility to meet evolving grid standards. Regional firms cater to cost-sensitive markets, creating a competitive environment with price-driven differentiation. The market maintains steady growth supported by regulatory compliance, renewable integration, and smart grid development, while strong competition encourages continuous innovation and product diversification.
Report Coverage:
The research report offers an in-depth analysis based on Type, Application, Technology and Region. It details leading Market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current Market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven Market expansion in recent years. The report also explores Market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on Market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the Market.
Future Outlook:
The wound type current transformer market will expand steadily with rising demand for smart grid deployment and energy modernization projects.
It will witness stronger adoption in renewable energy systems, particularly in solar and wind integration, to ensure accurate current measurement.
Industrial automation will remain a key growth driver as factories and processing plants demand reliable current monitoring for efficiency and safety.
Utilities will prioritize digitally compatible and IoT-enabled designs to support remote monitoring and predictive maintenance.
Compact and lightweight transformer designs will gain preference in urban infrastructure and high-density substations.
Manufacturers will focus on eco-friendly materials and sustainable production methods to align with global energy efficiency standards.
Emerging economies in Asia-Pacific, Latin America, and Africa will provide significant opportunities due to rapid grid expansion.
Product customization for data centers, metro systems, and transportation electrification will create niche growth avenues.
The market will face competitive pressure from alternative technologies, but innovation in accuracy and durability will sustain demand.
Long-term growth will be shaped by global energy transition goals, regulatory compliance, and the continuous push for safer and more efficient electrical networks.
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Frequently Asked Questions
What is the current market size for the Wound type current transformer market, and what is its projected size in 2032?
The wound type current transformer market was valued at USD 1230 million in 2024 and is projected to reach USD 1982.7 million by 2032, reflecting steady expansion supported by modernization and renewable integration.
At what Compound Annual Growth Rate is the Wound type current transformer market projected to grow between 2024 and 2032?
The wound type current transformer market is expected to grow at a CAGR of 6.15% during the forecast period from 2024 to 2032, driven by rising energy infrastructure investments and smart grid adoption.
What are the primary factors fueling the growth of the Wound type current transformer market?
Key growth factors include power grid modernization, renewable energy integration, industrial automation, safety compliance, and urban infrastructure expansion.
Who are the leading companies in the Wound type current transformer market?
Leading companies include Entes Electronics, CIC, Ritz, Arteche, Secure Meters, REDUR, Hutegy, GAE, Schneider Electric, GE, and Rishabh Instruments.
About Author
Sushant Phapale
ICT & Automation Expert
Sushant is an expert in ICT, automation, and electronics with a passion for innovation and market trends.
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