The global transformer core market size reached US$ 9.3 Billion in 2023. Looking forward, the market is projected to reach US$ 12.5 Billion by 2032, exhibiting a growth rate (CAGR) of 3.34% during 2023-2032. The increasing adoption of renewable energy sources, rising environmental concerns and energy security, and extensive research and development (R&D) activities represent some of the key factors driving the market.
A transformer core refers to a static device that transmits power through electromagnetic induction from one source to another. It is made of thin laminations of cold-rolled grain-oriented silicon steel and comprises primary, secondary, or tertiary metallic windings, which are used in different grades. It helps in transferring magnetic flux in the primary winding to the secondary winding effectively.
It provides mechanical support to the windings and a low reluctance closed ferromagnetic path to the magnetic flux and reduces the losses due to flux leakage. At present, the rising adoption of energy storage technologies, such as batteries and pumped hydro, is catalyzing the demand for transformer core that can efficiently transmit power across the globe.
This, coupled with the advent of distribution automation technologies that enable real time monitoring and control of power distribution systems, is contributing to the market growth. Besides this, the growing demand for electric vehicles (EVs) and the increasing number of EV charging stations are catalyzing the need for transformer cores worldwide. The rising demand for luxury cruise ships or cargo ships and the expanding trade activities is strengthening the growth of the market.
Additionally, transformer cores are employed in the telecommunication industry to allow efficient transmission and processing of signals. Key players are extensively financing research and development (R&D) activities by developing advanced transformer cores. They are also incorporating sensors and control systems and high temperature superconducting materials to optimize performance, increase efficiency, and reduce losses.
Some of the companies covered Arteche, Corefficient S de RL de CV, Eilor Magnetic Cores, Ferroxcube International Holding B.V. (Yageo Group), Fuji Electric Co. Ltd., KRYFS Power Components Ltd., Metglas Inc. (Hitachi Metals Ltd.), Nicore Magnetic Cores, Powercore Industries India Private Limited, Vilas Transcore Ltd. etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
A transformer core refers to a static device that transmits power through electromagnetic induction from one source to another. It is made of thin laminations of cold-rolled grain-oriented silicon steel and comprises primary, secondary, or tertiary metallic windings, which are used in different grades. It helps in transferring magnetic flux in the primary winding to the secondary winding effectively.
It provides mechanical support to the windings and a low reluctance closed ferromagnetic path to the magnetic flux and reduces the losses due to flux leakage. At present, the rising adoption of energy storage technologies, such as batteries and pumped hydro, is catalyzing the demand for transformer core that can efficiently transmit power across the globe.
Transformer Core Market Trends
The surging electricity consumption represents one of the major factors driving the demand for transformer cores to minimize the instances of power failures around the world. Moreover, the rising adoption of renewable energy sources, such as wind and solar, is bolstering the growth of the market. In addition, rapid urbanization, increasing global population, and the growing investments in the development of smart cities are influencing the application positively of transformer cores in residential, commercial, and industrial areas. Apart from this, due to rising environmental concerns and energy security, governments of numerous countries are imposing stringent policies to reduce greenhouse gas emissions and improve energy efficiency.This, coupled with the advent of distribution automation technologies that enable real time monitoring and control of power distribution systems, is contributing to the market growth. Besides this, the growing demand for electric vehicles (EVs) and the increasing number of EV charging stations are catalyzing the need for transformer cores worldwide. The rising demand for luxury cruise ships or cargo ships and the expanding trade activities is strengthening the growth of the market.
Additionally, transformer cores are employed in the telecommunication industry to allow efficient transmission and processing of signals. Key players are extensively financing research and development (R&D) activities by developing advanced transformer cores. They are also incorporating sensors and control systems and high temperature superconducting materials to optimize performance, increase efficiency, and reduce losses.
Key Market Segmentation
This report provides an analysis of the key trends in each segment of the global transformer core market, along with forecasts at the global, regional, and country level from 2024-2032. The report has categorized the market based on core, product, winding, cooling, insulation, and application.Core Insights:
- Shell
- Closed
- Berry
Product Insights:
- Power Transformer
- Distribution Transformer
- Instrument Transformer
Winding Insights:
- Two Winding
- Auto Transformer
Cooling Insights:
- Dry Type
- Self Cooled
Insulation Insights:
- Gas
- Oil
- Solid
- Air
Application Insights:
- Industrial
- Residential and Commercial
- Utility
Regional Insights:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The report has also provided a comprehensive analysis of the competitive landscape in the global transformer core market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.Some of the companies covered Arteche, Corefficient S de RL de CV, Eilor Magnetic Cores, Ferroxcube International Holding B.V. (Yageo Group), Fuji Electric Co. Ltd., KRYFS Power Components Ltd., Metglas Inc. (Hitachi Metals Ltd.), Nicore Magnetic Cores, Powercore Industries India Private Limited, Vilas Transcore Ltd. etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report
- How has the global transformer core market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global transformer core market?
- What is the impact of each driver, restraint, and opportunity on the global transformer core market?
- What are the key regional markets?
- Which countries represent the most attractive transformer core markets?
- What is the breakup of the market based on the core?
- Which is the most attractive core in the transformer core market?
- What is the breakup of the market based on the product?
- Which is the most attractive product in the transformer core market?
- What is the breakup of the market based on the winding?
- Which is the most attractive winding in the transformer core market?
- What is the breakup of the market based on the cooling?
- Which is the most attractive cooling in the transformer core market?
- What is the breakup of the market based on the insulation?
- Which is the most attractive insulation in the transformer core market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the transformer core market?
- What is the competitive structure of the global transformer core market?
- Who are the key players/companies in the global transformer core market?
Table of Contents
1 Preface3 Executive Summary14 Value Chain Analysis16 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Transformer Core Market
6 Market Breakup by Core
7 Market Breakup by Product
8 Market Breakup by Winding
9 Market Breakup by Cooling
10 Market Breakup by Insulation
11 Market Breakup by Application
12 Market Breakup by Region
13 Drivers, Restraints, and Opportunities
15 Porters Five Forces Analysis
17 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Arteche
- Corefficient S de RL de CV
- Eilor Magnetic Cores
- Ferroxcube International Holding B.V. (Yageo Group)
- Fuji Electric Co. Ltd.
- KRYFS Power Components Ltd.
- Metglas Inc. (Hitachi Metals Ltd.)
- Nicore Magnetic Cores
- Powercore Industries India Private Limited
- Vilas Transcore Ltd. etc.
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 137 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 9.3 Billion |
| Forecasted Market Value ( USD | $ 12.5 Billion |
| Compound Annual Growth Rate | 3.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
