The global transformer core market size was valued at $8.9 billion in 2020, and is projected to reach $13.5 billion by 2030, growing at a CAGR of 4.3% from 2020 to 2030. Transformer core comprises primary, secondary, or tertiary windings utilized in different grades, and are installed in transformers according to the transformer type and capacity. A low reluctance magnetic path known as the core of the transformer, common to all the windings, increases the overall efficiency of transformers. The efficiency of a transformer depends on the flux linkages between the core windings. The global transformer core market has witnessed considerable growth in the recent past, owing to rise in government investment in renewable power projects and rapid industrialization & urbanization. The World Bank reported that the power consumption in Latin America is anticipated to increase by twofold from 2010 to 2030, and is expected to obtain an investment of approximately $430 billion to cater to the growing electricity demand. Thus, increase in the number of power transformers, in turn, boosts the growth of the market.
The COVID-19 pandemic has negatively impacted the global transformer core market. The manufacturing of the transformer core was halted for a specific period due to the high peak of the COVID-19 situation, which highly impacted the sales of the transformer core. Furthermore, import & export activities were significantly impacted, which, in turn, adversely affected the industries using transformer core, thereby affecting the global transformer core market.
Increase in demand for electricity production across the globe and rise in integration of renewable sources of energy to produce electricity drive the transformer core market growth. However, transformer cores are highly expensive due to the high consumption of copper wires present in the core which may act as the restraining factor for the market. In addition, Asia-Pacific is projected to register significant growth as compared to the saturated markets of North America and Europe. The amount of transformer cores used in distribution transformers is expected to reduce, owing to increase in expansion of power grids and power generation projects, thus fueling the total number of power transformers.
The Report Lists the Key Companies in the Transformer Cores Market:
R.T. Vanderbilt CompanyInc. Emerald Performance Materials, LANXESS Corporation, Chemtura Corporation, Solvay SA, Eastman Chemical Company, Emery Oleochemicals Llc, Behn Meyer Group, Akzonobel N.V, China Petroleum & Chemical Corporation
This Free report sample includes:
- A brief introduction to the research report.
- Graphical introduction of the regional analysis.
- Top players in the market with their revenue analysis.
- Selected illustrations of market insights and trends.
- Example pages from the report.
- FnF research methodology.
Furthermore, the report provides the explored data by categorizing the Transformer Cores market based on type and form of service or product, applications, the technology involved, end-users, and others. It also entails comprehensive data relating to particular financial and business terms, anticipated market growth, market strategies, and much more. Using graphs, flowcharts, and figures in the report, the professional presented the examined information in a better comprehensible manner.
Additionally, the report also encompasses an explanation of key factors that are likely to considerably stimulate or hamper Transformer Cores market growth. It also elucidates on the future impact of enforcing regulations and policies on Transformer Cores market growth. The computed expected CAGR of the Transformer Cores market based on earlier records about the Transformer Cores market and existing market trends together with future developments are also mentioned in the report. The report also comprises the geographical bifurcation of the Transformer Cores market.
Product Types: Distribution Transformer And Power Transformer
On the Basis of Application: Residential & Commercial, Utility, and Industrial
The Transformer Cores Market report provides objective, evenhanded evaluation, and assessment of opportunities in the Transformer Cores market with a methodical market research report including numerous other market-associated fundamental factors. Our experienced industry analysts estimate the growth opportunities, cost, market sizing, technologies, applications, supply chains, companies, import & export, market share, and so on, with the exclusive endeavor of helping our customers to make well-informed business decisions.
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The market beat is reveled in this report which can allow the consumer in using key strategies to gain competitive advantage. Such a far-reaching and thorough research survey gives the essential expansion with key suggestions and unbiased measurable analysis, which can be used to enhance the current position and develop future extensions in a specific area in the Transformer Cores market.
Imperative regions all over the world are secured and the advancements, patterns, restrictions, drivers, and difficulties impacting the growth of the Transformer Cores market over these essential areas are covered. An examination of the impact of holistic and government policies on the market is likewise comprised to offer an all-encompassing summary of the future viewpoint of the Transformer Cores market.
Some of the major objectives of this report:
1) To provide a detailed analysis of the market structure along with the forecast of the various segments and sub-segments of the global Transformer Cores market.
2. To provide insights about factors affecting market growth. To analyze the Transformer Cores market based on various factors- price analysis, supply chain analysis, porter five force analyses, etc.
3. To provide historically and forecast revenue of the Transformer Cores market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and the Rest of the World.
4. Country-level analysis of the market with respect to the current market size and future prospective.
5. To provide country-level analysis of the market for segment by application, product type and sub-segments.
6. To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
7. Track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Transformer Cores market.