The global Transformer Cores Market accrued earnings worth approximately 9.1 (USD Billion) in 2021 and is predicted to gain revenue of about 15.3 (USD Billion) by 2028, is set to record a CAGR of nearly 4.2% over the period from 2022 to 2028.
The global Transformer Cores Market accrued earnings worth approximately 9.1 (USD Billion) in 2021 and is predicted to gain revenue of about 15.3 (USD Billion) by 2028, is set to record a CAGR of nearly 4.2% over the period from 2022 to 2028. The study provides assessment and analysis of the Transformer Cores Market on a global & regional level. It offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2021 along with a forecast from 2022 to 2028 based on revenue (USD Billion).
Transformer core is a static equipment transmitting power from source to destination via electromagnetic induction. It is a key magnetic circuit path. Furthermore, they are parts of magnetic material having high magnetic permeability used for assisting magnetic fields across transformers. Moreover, transformers work under mutual induction principle and transformer core possess less reluctance and latter opposes magnetic flux flow. Transformer core are made up of various materials such as steel laminated cores, toroidal cores, and solid cores. Transformer cores are of different kinds and they are step up transformer, step down transformer, and isolated transformer.
Growth of transformer cores market over forecasting timeline is subject to rise in demand for seamless power supply across globe. Surge in government funding in renewable energy ventures will drive business growth. Swift urbanization and rise in industrialization will embellish expansion of transformer cores market in upcoming years. Moreover, surging energy demand, increase in integration of renewable power source, power grid expansion, and need for transformers will embellish market growth. Huge transformer cores costs will hinder market surge. Nonetheless, rise in government funding on renewable power ventures for fulfilling surging energy demand will drive market trends.
Furthermore, humungous transformer demand across various countries with high manufacturing units will prop up growth of transformer cores industry. In addition to this, scarcity of electricity in every sector and surge in acceptance of renewable power sources will boost industry trends.
North America To Make Notable Contributions Towards Regional Market By 2028
Growth of transformer cores market over forecasting timespan is subject to technological breakthroughs in power production sector. Furthermore, rise in government spending on renewable power ventures for fulfilling energy demands will upswing transformer cores market growth in North America over years ahead. Humungous power supply need with escalating populace in sub-continent and shift in energy-efficient tools will steer expansion of transformer cores industry in North America over ensuing years.
Key players influencing growth of transformer cores market and profiled in study are Hitach Limited, Toshiba Corporation, ABB Ltd, JiangSu HuaPeng Transformer Co., Ltd., Mitsubishi Electric Corporation, Fuji Electric Co. Ltd., Crompton Greaves Consumer Electricals Limited, Siemens AG, and Ferroxcube International Holdings B.V.
Report Scope:
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
By Transformer Type
By Application
By Region
List of Figures
1. Market research process
2. Market research methodology
3. Global Transformer Cores Market, 2016–2026 (Thousand Units)
4. Global Transformer Cores Market, 2016–2026 (USD Million)
5. Porter’s Five Forces Analysis
6. Global Transformer Cores Market attractiveness, By Type
7. Global Transformer Cores Marketmarket share, By Type, 2019 and 2026
8. Global Transformer Cores Market by Power Transformer, 2016–2026 (Thousand Units)
9. Global Transformer Cores Market by Power Transformer, 2016–2026 (USD Million)
10. Global Transformer Cores Market by Distribution Transformer,2016–2026 (Thousand Units)
11. Global Transformer Cores Market by Distribution Transformer,2016–2026 (USD Million)
12. Global Transformer Cores Market share, by Region, 2018and 2026
13. North America Transformer Cores Market, 2016–2026 (Thousand Units)
14. North America Transformer Cores Market, 2016–2026 (USD Million)
15. Europe Transformer Cores Market, 2016–2026 (Thousand Units)
16. Europe Transformer Cores Market, 2016–2026 (USD Million)
17. Asia Pacific Transformer Cores Market, 2016–2026 (Thousand Units)
18. Asia Pacific Transformer Cores Market, 2016–2026 (USD Million)
19. Latin America Transformer Cores Market, 2016–2026 (Thousand Units)
20. Latin America Transformer Cores Market, 2016–2026 (USD Million)
21. The Middle East and Africa Transformer Cores Market, 2016–2026 (Thousand Units)
22. The Middle East and Africa Transformer Cores Market, 2016–2026 (USD Million)
List of Tables
1. Global Transformer Cores Market: snapshot
2. Drivers of theTransformer Cores Market: impact analysis
3. Restraints of theTransformer Cores Market: impact analysis
4. North America Transformer Cores Market revenue, By Type,2016–2026 (Thousand Units)
5. North America Transformer Cores Market revenue, By Type,2016–2026 (USD Million)
6. The U.S. Transformer Cores Market revenue, By Type,2016–2026 (Thousand Units)
7. The U.S. Transformer Cores Market revenue, By Type,2016–2026 (USD Million)
8. Rest of North America Transformer Cores Market revenue, By Type,2016–2026 (Thousand Units)
9. Rest of North America Transformer Cores Market revenue, By Type,2016–2026 (USD Million)
10. Europe Transformer Cores Market revenue, By Type,2016–2026 (Thousand Units)
11. Europe Transformer Cores Market revenue, By Type,2016–2026 (USD Million)
12. U.K.Transformer Cores Market revenue, By Type,2016–2026 (Thousand Units)
13. U.K.Transformer Cores Market revenue, By Type,2016–2026 (USD Million)
14. France Transformer Cores Market revenue, By Type,2016–2026 (Thousand Units)
15. France Transformer Cores Market revenue, By Type,2016–2026 (USD Million)
16. Germany Transformer Cores Market revenue, By Type,2016–2026 (Thousand Units)
17. Germany Transformer Cores Market revenue, By Type,2016–2026 (USD Million)
18. Rest of EuropeTransformer Cores Market revenue, By Type,2016–2026 (Thousand Units)
19. Rest of EuropeTransformer Cores Market revenue, By Type,2016–2026 (USD Million)
20. Asia Pacific Transformer Cores Market revenue, By Type,2016–2026 (Thousand Units)
21. Asia Pacific Transformer Cores Market revenue, By Type,2016–2026 (USD Million)
22. China Transformer Cores Market revenue, By Type,2016–2026 (Thousand Units)
23. China Transformer Cores Market revenue, By Type,2016–2026 (USD Million)
24. Japan Transformer Cores Market revenue, By Type,2016–2026 (Thousand Units)
25. Japan Transformer Cores Market revenue, By Type,2016–2026 (USD Million)
26. India Transformer Cores Market revenue, By Type,2016–2026 (Thousand Units)
27. India Transformer Cores Market revenue, By Type,2016–2026 (USD Million)
28. Rest of Asia Pacific Transformer Cores Market revenue, By Type,2016–2026 (Thousand Units)
29. Rest of Asia Pacific Transformer Cores Market revenue, By Type,2016–2026 (USD Million)
30. Latin America Transformer Cores Market revenue, By Type,2016–2026 (Thousand Units)
31. Latin America Transformer Cores Market revenue, By Type,2016–2026 (USD Million)
32. Brazil Transformer Cores Market revenue, By Type,2016–2026 (Thousand Units)
33. Brazil Transformer Cores Market revenue, By Type,2016–2026 (USD Million)
34. Rest of Latin America Transformer Cores Market revenue, By Type,2016–2026 (Thousand Units)
35. Rest of Latin America Transformer Cores Market revenue, By Type,2016–2026 (USD Million)
36. The Middle East and Africa Transformer Cores Market revenue, By Type,2016–2026 (Thousand Units)
37. The Middle East and Africa Transformer Cores Market revenue, By Type,2016–2026 (USD Million)
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.
Primary Research
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
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.
Models
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.
Expansion of transformer cores market over forecasting timeline is due to rise in demand for constant power supply across globe.
According to Zion market research report, The global Transformer Cores Market accrued earnings worth approximately 9.1 (USD Billion) in 2021 and is predicted to gain revenue of about 15.3 (USD Billion) by 2028, is set to record a CAGR of nearly 4.2% over the period from 2022 to 2028.
North America will contribute lucratively towards the global market revenue over the projected timespan. The regional market surge is due to technological breakthroughs in power production sector.
The key industry participants leveraging business landscape include Hitach Limited, Toshiba Corporation, ABB Ltd, JiangSu HuaPeng Transformer Co., Ltd., Mitsubishi Electric Corporation, Fuji Electric Co. Ltd., Crompton Greaves Consumer Electricals Limited, Siemens AG, and Ferroxcube International Holdings B.V.
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