Because the downstream application demand of transformers is mainly concentrated in the power industry, the expansion of the power industry is conducive to the continuous development of the transformer market.

       Transformer, also known as instrument transformer, is a general term for current transformer and voltage transformer, which can convert high voltage or high current into low voltage (100V) or standard small current (5A or 1A, both referring to the rating) in a certain proportion, in order to achieve the standardization and miniaturization of measuring instruments, protection equipment and automatic control equipment, and can also be used to separate high voltage systems. In order to ensure the safety of people and equipment, in recent years, there is a greater application demand in a variety of electronic and electrical projects such as distribution voltage, sub-transmission voltage, high voltage transmission, ultra-high voltage transmission, ultra-high voltage transmission.

       Because the downstream application demand of transformers is mainly concentrated in the power industry, the expansion of the power industry is conducive to the continuous development of the transformer market. Specifically, according to the relevant data released by the National Bureau of Statistics, in 2019, China's power production ran smoothly, the overall balance of power supply and demand, and the national social electricity consumption reached 7.2 trillion KWH, an increase of 4.5%. In 2020, although the new coronavirus pneumonia epidemic has comprehensively broken out in China, in the second half of the year, under the strong promotion of the central government's overall promotion of epidemic prevention and control and various policies and measures, the electricity consumption of the whole society in China is still improving, reaching 7.5 trillion KWH by the end of 2020, an increase of 3.1%. In this context, the transformer as the upstream core parts of the power industry, its market has developed rapidly.

       According to the "2021-2025 transformer market Development Prospect Analysis and supply and demand pattern Research Forecast Report" released by Xinsijia Industry Research Center, in recent years, with the sustained rapid growth of China's economy, distribution voltage, sub-transmission voltage, high voltage transmission, ultra-high voltage transmission, ultra-high voltage transmission and other power projects are accelerated, coupled with the increasingly strict environmental protection policies. The market scale of China's instrument transformer industry continues to increase. Specifically, from 9.75 billion yuan in 2016 to 2020, the market size of China's instrument transformer industry will reach 13.67 billion yuan, with an average annual compound growth rate of about 8.8%; In the future, with the continuous development of the power industry, China's transformer market still has a large space for development.

       From the product type point of view, the current transformer products on the market in China are mainly divided into two categories: voltage transformer and current transformer. Since the 21st century, with the continuous increase of domestic power production and power transmission system capacity, the level of power grid operating voltage has also been improved, and the traditional electromagnetic transformer has been unable to meet the needs of the further development of the domestic power system, which has prompted the state and enterprises to accelerate the development of new current and voltage sensor products. Including electronic current transformer this product, it is subdivided into optical current transformer, hollow coil current transformer and iron core coil type low power current transformer (LPCT) these three categories, is still in the initial stage of development in China, has not yet achieved large-scale production.

       Industry analysts said that in recent years, with the sustained and rapid growth of China's economy, the acceleration of power projects such as distribution voltage, sub-transmission voltage, high voltage transmission, ultra-high voltage transmission, and ultra-high voltage transmission, coupled with the increasingly strict environmental protection policies, the market size of China's transformer industry continues to increase, and the future of products is expected to develop in the direction of intelligence and high-end. All in all, the future development potential of China's instrument transformer market is still huge.