Current Transformer Market Size To Reach $3.90 Billion By 2030

Current Transformer Market Growth & Trends

The global current transformer market size is anticipated to reach USD 3.90 billion by 2030, registering a CAGR of 6.82% from 2025 to 2030, according to a new report by Grand View Research, Inc. The growing demand for reliable and accurate electrical measurement and protection in power systems is a key driver as industries and utilities strive to enhance grid stability and safety. Current transformers are vital in monitoring electrical currents, enabling effective control, metering, and fault detection across transmission and distribution networks. Increasing integration of renewable energy sources and smart grid technologies further amplifies the need for advanced current transformers to support complex grid operations. Innovations in core materials and insulation technologies are improving transformer accuracy, durability, and efficiency, meeting the evolving requirements of modern power systems.

Supportive government policies and standards for modernizing electrical infrastructure and improving grid reliability fuel market expansion globally. Subsidies and incentives for upgrading aging grid components and deploying smart metering solutions encourage adoption, especially in developing economies. Additionally, the increasing use of IoT-enabled monitoring and automation in substations creates new opportunities for current transformer manufacturers to offer integrated, smart solutions.

Technological advancements such as improved core designs, enhanced thermal stability, and digital output capabilities are helping to reduce operational costs while boosting performance. The Asia-Pacific region leads market growth due to rapid industrialization, urbanization, and expanding energy infrastructure, while North America and Europe focus on grid upgrades and renewable energy integration. Despite raw material costs and regulatory compliance challenges, ongoing investments in grid modernization and renewable power projects are expected to sustain robust demand worldwide. Regions, including Latin America and Africa, are emerging as promising markets, driven by increasing electrification efforts and industrial expansion.

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Current Transformer Market Report Highlights

• Based on voltage, medium voltage current transformers dominated the market with a revenue share of 50.85% in 2024 due to their essential role in monitoring and protecting power systems within the 1kV to 36kV range. These transformers are widely used in power distribution networks, industrial facilities, and commercial buildings, offering reliable performance and high measurement accuracy. As utilities modernize aging infrastructure and expand grid capacity, medium voltage CTs remain critical for ensuring electrical safety, fault detection, and system efficiency, making them the preferred choice across multiple end-use sectors.

• Based on applications, power distribution accounted for the largest market share of 67.59% in 2024, owing to the widespread deployment of current transformers in utility substations and secondary distribution networks. These transformers are essential for monitoring current flow, enabling accurate metering, and ensuring protection across medium and low voltage distribution systems.

• Asia Pacific held the largest global Current Transformer market share, with a revenue contribution of over 38.89% in 2024, driven by rapid industrialization, urban expansion, and extensive investments in power infrastructure. Countries such as China, India, and Southeast Asia are witnessing strong electricity demand, which is fueling the construction of new substations and grid modernization projects.

Current Transformer Market Segmentation

Grand View Research has segmented the global current transformer market on the basis of voltage, application, and region:

Current Transformer Voltage Outlook (Revenue, USD Million, 2018 - 2030)

• Low Voltage

• Medium Voltage

• High Voltage

Current Transformer Application Outlook (Revenue, USD Million, 2018 - 2030)

• Power Distribution

• Manufacturing

• Others

Current Transformer Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • Spain

  • France

  • Italy

• Asia Pacific

  • China

  • India       

  • Japan

  • South Korea

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa

List of key players in the Current Transformer Market

• ABB

• Amran Inc

• ARTECHE

• CG Power & Industrial Solutions Ltd.

• Circutor

• Eaton Corporation

• General Electric

• Hammond Manufacturing Ltd.

• Hitachi Energy Ltd.

• Instrument Transformers LTD.

• Littelfuse, Inc.

• NISSIN ELECTRIC Co., Ltd.

• RECO Transformers Pvt. Ltd.

• Schneider Electric

• Siemens Energy