The instrument transformer market is severely affected due to COVID-19 and its reliability on upstream and downstream industries, the supply of raw materials, and the delay in components. Many companies are waiting for the resumption of work, causing a short-term concern on the market. Once the situation normalizes, companies will be focusing on increasing the production capacity and the means to recover the lost time.
The growing demand for sunrise industries is a key driver for the electricity demand and instrument transformers. North America and Europe account for a large number of industries and original equipment manufacturers (OEMs). In the last three decades, the industrial sector of these economies has observed rapid growth in terms of output, labor productivity, and total factor productivity. Thus, the demand for energy across the industrial sector of these economies has also augmented. The growing energy demand has further increased these economies’ dependency on electricity, and this trend is expected to remain unchanged in the forthcoming years.
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Plastic Compounding Market: Segmentation
By Enclosure Type
Central and South America and the Caribbean
The Middle East
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