Transformer Cores Market - Global Industry Analysis

Transformer Cores Market- By Transformer Type (Power Transformer, Distribution Transformer, Isolation Transformer, and Auto Transformer) and By Application (Power Transmission and Electronics): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2022–2028

Published Date: 23-Mar-2022 Category: Technology & Media Report Format : PDF Pages: 176 Report Code: ZMR-361 Status : Published

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.

Description

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 Cores Market: Overview

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.

Transformer Cores Market: Growth Dynamics

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.

Global Transformer Cores Market

Transformer Cores Market: Regional Landscape

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.

Transformer Cores Market: Competitive Insights

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.

Breakthroughs In Transformer Cores Market

  • In December 2018, Hyosung Corporation – a South Korean firm in industrial Chaebol business- made acquisition of Mitsubishi Corporation’s transformer unit in Tennessee for producing core-type high transformers.
  • In May 2016, Mitsubishi Electric Corporation sent first 765kV transformer to American Electric Power. Reportedly, this transformer core was first produced at Memphis, Tennesse.

The global Transformer Cores Market is segmented as follows:

By Transformer Type

  • Power Transformer
  • Distribution Transformer
  • Isolation Transformer
  • Auto Transformer

By Application

  • Power Transmission
  • Electronics

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

 

Table Of Content

  • Chapter 1 Preface
    • 1.1 Report description
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market research process
      • 1.3.2 Market research methodology
  • Chapter 2 Executive Summary
    • 2.1 Global transformer cores market , 2015 - 2021 (Thousand Units) (USD Million)
    • 2.2 Global Transformer Cores market : Snapshot
  • Chapter 3 Transformer Cores – Market Dynamics
    • 3.1 Introduction
      • 3.1.1 Classification of transformer cores
    • 3.2 Market Drivers
      • 3.2.1 Transmission and distribution network expansion
      • 3.2.2 Increasing demand for electricity generation
      • 3.2.3 Rapid industrialization and urbanization
    • 3.3 Restraints
      • 3.3.1 Price fluctuations in electrical steel and ferrite
    • 3.4 Opportunities
      • 3.4.1 New power generation and distribution projects
      • 3.4.2 Green Initiatives
    • 3.5 Porter’s five forces analysis
    • 3.6 Transformer Cores: Market Attractiveness Analysis
      • 3.6.1 Market attractiveness analysis by type segment
      • 3.6.2 Market attractiveness analysis by regional segment
  • Chapter 4 Competitive Landscape
    • 4.1 Company Market Share Analysis
      • 4.1.1 Global transformer cores market : company market share, 2015
    • 4.2 Strategic Development
      • 4.2.1 New Product Launch
      • 4.2.2 Agreements, Partnerships, Collaborations and Joint Ventures
      • 4.2.3 Research and Development, Product and Regional Expansion
    • 4.3 Patent Analysis (2011-2016)
      • 4.3.1 Patent Trend
      • 4.3.2 Patent Share by company
      • 4.3.3 By Region
  • Chapter 5 Transformer Cores Market – Type Segment Analysis
    • 5.1 Global transformer cores market overview: by type
      • 5.1.1 Global transformer cores market volume share, by type, 2015 & 2021
    • 5.2 Power Transformer
      • 5.2.1 Global power transformer market, 2015 – 2021 (Thousand Units) (USD Million)
    • 5.3 Distribution Transformer
      • 5.3.1 Global distribution transformer market, 2015 – 2021 (Thousand Units) (USD Million)
  • Chapter 6 Transformer Cores Market – Regional Analysis
    • 6.1 Global Transformer Cores Market : Regional Overview
      • 6.1.1 Global transformer cores market volume share, by region, 2015 & 2021
    • 6.2 North America
      • 6.2.1 North America transformer cores market, 2015 - 2021 (Thousand Units) (USD Million)
      • 6.2.2 North America transformer cores market revenue, by type, 2015 – 2021 (USD Million)
      • 6.2.3 North America transformer cores market volume, by type, 2015 – 2021(Thousand Units)
    • 6.3 Europe
      • 6.3.1 Europe transformer cores market, 2015 - 2021 (Thousand Units) (USD Million)
      • 6.3.2 Europe transformer cores market revenue, by type, 2015 – 2021 (USD Million)
      • 6.3.3 Europe transformer cores market volume, by type, 2015 – 2021 (Thousand Units)
    • 6.4 Asia Pacific
      • 6.4.1 Asia Pacific transformer cores market, 2015 - 2021 (Thousand Units) (USD Million)
      • 6.4.2 Asia Pacific transformer cores market revenue, by type, 2015 – 2021 (USD Million)
      • 6.4.3 Asia Pacific transformer cores market volume, by type, 2015 – 2021 (Thousand Units)
    • 6.5 Latin America
      • 6.5.1 Latin America transformer cores market, 2015 - 2021 (Thousand Units) (USD Million)
      • 6.5.2 Latin America transformer cores market revenue, by type, 2015 – 2021 (USD Million)
      • 6.5.3 Latin America transformer cores market volume, by type, 2015 – 2021 (Thousand Units)
    • 6.6 Middle East & Africa
      • 6.6.1 Middle East & Africa transformer cores market, 2015 - 2021 (Thousand Units) (USD Million)
      • 6.6.2 Middle East & Africa transformer cores market revenue, by type, 2015 – 2021 (USD Million)
      • 6.6.3 Middle East & Africa transformer cores market volume, by type, 2015 – 2021 (Thousand Units)
  • Chapter 7 Company Profiles
    • 7.1 ABB Ltd.
      • 7.1.1 Overview
      • 7.1.2 Financials
      • 7.1.3 Product Portfolio
      • 7.1.4 Business Strategy
      • 7.1.5 Recent Developments
    • 7.2 Siemens AG
      • 7.2.1 Overview
      • 7.2.2 Financials
      • 7.2.3 Product Portfolio
      • 7.2.4 Business Strategy
      • 7.2.5 Recent Developments
    • 7.3 Mitsubishi Electric Corporation
      • 7.3.1 Overview
      • 7.3.2 Financials
      • 7.3.3 Product portfolio
      • 7.3.4 Business Strategy
    • 7.4 Hyosung
      • 7.4.1 Overview
      • 7.4.2 Financials
      • 7.4.3 Product portfolio
      • 7.4.4 Business Strategy
    • 7.5 Crompton Greaves Ltd.
      • 7.5.1 Overview
      • 7.5.2 Financials
      • 7.5.3 Product portfolio
      • 7.5.4 Business Strategy
      • 7.5.5 Recent Development
    • 7.6 Toshiba Corporation
      • 7.6.1 Overview
      • 7.6.2 Financials
      • 7.6.3 Product portfolio
      • 7.6.4 Business Strategy
      • 7.6.5 Recent Development
    • 7.7 Leicong Industrial Co., Ltd
      • 7.7.1 Company Overview
      • 7.7.2 Product Portfolio
      • 7.7.3 Business Strategy
    • 7.8 Fuji Electric Co. Ltd.
      • 7.8.1 Company Overview
      • 7.8.2 Financials
      • 7.8.3 Business Strategy
      • 7.8.4 Recent Developments
    • 7.9 Ferroxcube
      • 7.9.1 Company Overview
      • 7.9.2 Product Portfolio
      • 7.9.3 Business Strategy
    • 7.10 Hitachi
      • 7.10.1 Company Overview
      • 7.10.2 Financials
      • 7.10.3 Product Portfolio
      • 7.10.4 Business Strategy
      • 7.10.5 Recent Developments
    • 7.11 Poscore Co., Ltd.
      • 7.11.1 Overview
      • 7.11.2 Product Portfolio
    • 7.12 JSHP Transformer
      • 7.12.1 Overview
      • 7.12.2 Financial overview
      • 7.12.3 Product Portfolio
      • 7.12.4 Business Strategy
      • 7.12.5 Recent Developments
  • Chapter 8 Patents
    • 8.1 U.S. (US Patents)
    • 8.2 Europe (EP documents)
    • 8.3 Japan (Abstracts of Japan)
    • 8.4 Global (WIPO (PCT))

Table Of Figures

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)


Table Of Tables

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)
 

Methodology

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:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

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:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

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:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

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.

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FrequentlyAsked Questions

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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