Oil Immersed Current Transformer Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025 - 2034

The Global Oil Immersed Current Transformer Market is poised for significant growth, with the market size anticipated to reach USD 1.8 billion in 2024 and a projected compound annual growth rate (CAGR) of 6.3% from 2025 to 2034. The increasing global demand for reliable and efficient power systems is driving this market expansion.

As energy consumption continues to rise worldwide, particularly in developing nations, the need for robust electrical infrastructure is growing. This, in turn, is fueling the demand for oil-immersed current transformers, which play a pivotal role in power transmission and distribution systems. These transformers help monitor and protect high-voltage systems, ensuring the safe and reliable delivery of electricity. Furthermore, as governments invest heavily in energy infrastructure to support industrialization and urbanization, the market for oil-immersed current transformers is expected to accelerate rapidly over the next decade.

The global oil-immersed current transformer market is segmented by product type, including wound, toroidal, bar type, and others. Among these, wound-type oil-immersed CTs are projected to dominate, with a market value of USD 1.1 billion by 2034. These transformers are critical in medium to high-voltage power systems due to their high accuracy and reliability in measuring electrical current. Their widespread use in substations, electrical power networks, and industrial applications for protection and metering underscores their importance. Accurate measurement of high currents is essential for ensuring the efficiency and safety of electrical systems, making wound-type oil-immersed CTs a preferred choice in demanding applications.

The market is also categorized by application, with the power distribution segment expected to experience a CAGR of 5.4% through 2034. This growth is attributed to the increasing global energy demand, especially in emerging economies undergoing rapid industrialization and urbanization. As more regions seek to improve and expand their power distribution networks, the demand for reliable and efficient transformers continues to rise. Oil-immersed current transformers are essential components for such infrastructure upgrades, ensuring a steady and reliable power supply.

In the United States, the oil-immersed current transformer market is expected to generate USD 278 million by 2034. Factors such as grid modernization, the growing adoption of smart grid technologies, and environmental regulatory pressures will drive the market forward. The U.S. is focused on enhancing its energy infrastructure to support growing demand and meet environmental goals. While oil-immersed CTs will continue to play a vital role in the U.S. market, alternative transformer technologies may emerge as potential competitors in the long term.