Magneto Optic Current Transformer Market Outlook, Opportunity and Demand Analysis, Forecast 2019 – 2027
Magneto Optic Current Transformer is a device in which electromagnetic waves propagate through a medium that has been altered by the presence of very slowly changing reversible magnetic field. In this instrument, the material used is also called as gyromagnetic, which is an elliptical polarizers that can rotate in left and right direction and can travel at different speeds, and when light is transmitted through a layer of magneto optic material to form a Faraday rotator Magneto optic current transformer (MOCT) is an advanced technology that is used to overcome the problem associated with conventional transformer.
In this technology electromagnetic interference does not occur, and also breaking the conductor is not required to enclose the optical path in the current carrying circuit. A magneto optic current transformer consists of an electronic signal processing unit, a sensor head which is present near current carrying conductor, and a fiber optical cable to link these two parts. In magneto optic current transformer, passive optical current transducer uses light to measure current accurately on high voltage system with the help of signal processing unit by converting optical signal into electrical signal.
One of the major driving factor for the growth of global magneto optic current transformer market is increasing use of magneto optic current transformer in power station, and industrial applications. Magneto optic current transformers are increasingly used to overcome the drawbacks of conventional current transformers such as electromagnetic interference, saturation of magnetic field under high current, complicated cooling structure, and measuring accurate current at high voltage.
Furthermore, various properties of the magneto optic current transformer such as the possibility of measuring AC & DC, wide frequency response, simpler insulation structure, and reduced risks of fire and explosions, all these factors are anticipated to drive the demand of magneto optic current transformer market during forecast period. Moreover, magneto optic current transformers have small size and low weight ratio, owing to this during installation and relocation it does not require heavy machinery, consequently making the process more economical. In addition to this, with technological advancement magneto optic current transformer are capable to provide output in digital format as they are compatible with computer systems.
Furthermore, effects of electromagnetic interference, vibration, temperature, and humidity are negligible when magneto optic current transformer system as compared to conventional current transformer system. Considering the advantages offered by magneto optic current transformer the demand of magneto optic current transformer is expected to boost significantly in coming years. Furthermore, capability to withstand at high mechanical load, and low power consumption of MOCT are expected to bring new lucrative opportunities for investors to invest in magneto optic current transformer market. However, temperature and stress induced linear birefringence in the sensing material cause error and instability which is expected to be the major restraining factor for growth of global magneto optic current transformer market.
The global magneto optic current transformer market has been segmented based on product type, application, and region. Based on product type, the global magneto optic current transformer market can be classified into fiber type, and non-fiber type. Based on application, the magneto optic current transformer market can be segmented into transformer, power systems and instrumentations, electronic meters, transmission line-bus, network equipment, and electrical high voltage (EHV) substations. Additionally, based on geography, the magneto optic current transformer market is further segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Some of the key players operating in the global magneto optic current transformer market with significant developments include Asea Brown Boveri (ABB) Ltd., NR Electric Co., Ltd., Trench Group, ARTECHE, and Profotech among others.