Global transformer cores market accounted for USD 8,172.2 Million in 2019 and is expected to reach USD 10,617.3 Million by 2026, growing at a CAGR of around 3.81% between 2019 and 2026.
The report covers forecast and analysis for the transformer cores market on a global and regional level. The study gives historic data of 2016, 2017, 2018, considering 2019 as the base period, and forecast for period 2020 to 2026 based on revenue (USD Million) and volume (Thousand Units). This study includes restraints and drivers for the transformer cores market and the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the transformer cores market on a global level.
In order to offer the users of this report an inclusive view on the transformer cores market, we have added a thorough Porter’s five forces model for the transformer cores market. The study encompasses a market attractiveness analysis, where type segments are benchmarked based on their growth rate, general attractiveness, and market size.
The study gives a crucial view on the transformer cores market by classifying the market based on product and region. The types covered in the study include power transformer and distribution transformer. All the segments have been analyzed based on present and future trends and the market is estimated from 2015 to 2021. The regional segmentation includes the current and forecast demand for North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa.
The global transformer cores market is segmented as follows:
Global Transformer Cores Market: Product Segment Analysis
Global Transformer Cores Market: Regional Segment Analysis
This report is based on in-depth qualitative and quantitative analyses of the global Transformer Cores market. Zion Research has collected and analyzed key data belong to the global Transformer Cores market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Transformer Cores across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Transformer Cores industry. Primary research makes up the major source of data collection and validation.
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Transformer Cores market.
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
The magnetic core is an essential component in transformers. These cores are typically some form of steel or iron and serve as a pathway for magnetic flux. There are many types of magnetic cores that are well suited for various purposes. Different types of transformer cores include solid iron/steel core, laminated silicon steel core and amorphous steel cores. The electrical power transformer has primary, secondary and may be tertiary windings. The performance of a transformer mostly depends on the flux linkages among these windings. For efficient flux linking among these windings, one low reluctance magnetic path common to all windings is provided in the transformer. This low reluctance magnetic path is referred as the core of the transformer.
Increasing expansion activities in transmission and distribution network projects is expected to drive the global transformers market. This will, in turn, propel the demand for transformers core in the years to come. Transformer core market has witnessed substantial growth in the recent past on account of escalating government investment in renewable power projects and rapid urbanization and industrialization. However, pricing pressures on transformer manufacturers coupled with an increase in raw material costs may curtail the growth of the market in the foreseeable future.
Transformer cores are used in power transformers and distribution transformers. In 2015, power transformer cores dominated the global market over 50% share of the total market. Increasing expansion of power grids and power generation projects worldwide are fueling the total number of power transformers.
Asia Pacific is predicted to prevail over other regions owing to industrial, economic and social development in emerging countries such as India and China. Replacement of aging power infrastructure in Europe and North America is further anticipated to surge the demand for transformer cores in these regions. Furthermore, several initiatives undertaken by European nations to install green transformers are also expected to stimulate the transformer core market in near future.
ABB is one of the prominent players in transformer core industry and energy efficiency is a keystone of ABB strategy and has been a key driver of research and development in ABB’s transformer business for many years. Other key players in the transformer and transformer core industry include Siemens AG, ALSTOM, Jiangsu Huapeng Transformer, Schneider Electric, General Electric and Toshiba among others.