Magnetic Optical Current Transformer Market is predicted to reach USD 397.5 billion at a CAGR of 8.20% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Magnetic Optical Current Transformer Market”.

The magnetic optical current transformer market is estimated to register a CAGR of 8.20% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Magnetic optical current transformer market— ABB, PROFOTECH, TRENCH Group, ARTECHE, NR Electric Co., T&D, and others.

Market Highlights

The global magnetic optical current transformer market is accounted to register a CAGR of 8.20% during the forecast period and is estimated to reach USD 397.5 Billion by 2032.

In the electrical power sector, the magnetic optical current transformer (MOCT) market was expanding. In comparison to conventional current transformers, MOCTs provided alternatives for accurate and dependable current measuring. The market was expanding as a result of rising demand for renewable energy integration and power grid monitoring. Consult recent sources and industry studies for the most up-to-date information.

Segment Analysis

The global magnetic optical current transformer market has been segmented into type, material type, application and sales channel.

On the basis of type, the market is segmented into spreader bar, conventional. The conventional segment dominated the market, accounting for 35.45% of market revenue. Comparatively speaking, traditional MOCTs have been in use longer than more contemporary variations like "Spreader bar." As a result, they have a track record of reliability and performance.

Based on material type, the global magnetic optical current transformer market has been segmented into cotton type, fiber type, non-fiber type. The fiber type category generated the most income. Between the measuring circuit and the primary current-carrying conductor, optical fibres offer excellent electrical isolation. Because there is less chance of current leakage or electrical failure and electrical dangers are avoided, this isolation improves overall safety.

Based on application, the global magnetic optical current transformer market has been segmented into transformer, electronic measurement devices, networking devices, power systems & instrumentations, transmission line-bus, electrical high voltage (EHV) substations, polypropylene, others. Transformers was the genre with the highest revenue. Global demand for power transformers has been steadily increasing as a result of the expansion of power generation capacity, the creation of grid infrastructure, and the use of renewable energy sources.

Based on sales channel, the global magnetic optical current transformer market has been segmented into offline channels, online channels. The online channels category generated the most income. As e-commerce and the digitalization of sectors progress, more businesses are using online platforms to communicate with customers and do business.

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Regional Analysis

The global magnetic optical current transformer market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Magnetic optical current transformer market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Magnetic optical current transformer market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Magnetic optical current transformer market comprises of Middle East, Africa, and Latin America.

The North America magnetic optical current transformer market dominated this market in 2022 (45.80%). The necessity to repair North America's failing power system may have an impact on the adoption of cutting-edge technologies like MOCTs. MOCTs are a preferable alternative for utilities looking to modernize their grid systems since they are more accurate, dependable, and need less maintenance than conventional current transformers.

Moreover, Europe is the second-largest region in the magnetic optical current transformer market. A significant effort has been undertaken by European countries to promote the use of renewable energy sources and reduce carbon emissions. MOCTs can be crucial in the grid integration of renewable energy sources in order to develop a more sustainable and environmentally friendly energy system.

Additionally, the Asia-Pacific magnetic optical current transformer market is expected to grow at the fastest CAGR from 2023 to 2032. In APAC, the industrial and urban sectors are also experiencing rapid economic growth, which has increased the need for energy. There are opportunities for MOCTs to increase grid efficiency and dependability as a result of the need for upgraded power systems to meet the rising demand.

Furthermore, in Latin America, the electrical power industry was increasingly adopting magnetic optical current transformers (MOCTs). In comparison to conventional current transformers, MOCTs offered accurate and dependable current measurement options. Monitoring the electric grid and incorporating renewable energy sources increased demand. Consult current sources and industry studies for the most up-to-date insights.

Key Findings of the Study

• The global magnetic optical current transformer market is expected to reach USD 397.5 Billion by 2032, at a CAGR of 8.20% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market. The industrial and urban sectors in APAC are experiencing tremendous economic growth, which has led to an increase in energy demand.


• Based on sales channel, the offline channel segment was attributed to holding the largest market in 2022.


• ABB, PROFOTECH, TRENCH Group, ARTECHE, NR Electric Co., T&D, and others.