Transformer Core Market

Transformer Core Market

Transformer Core Market Forecasts to 2028 – Global Analysis By Design (Closed-Core, Shell-Core), Cooling (Self-Cooled, Dry Type), Application, and By Geography

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4.4 (80 reviews)
Published: 2022 ID: SMRC21591

This report covers the impact of COVID-19 on this global market

Years Covered


Estimated Year Value (2021)

US $9.28 BN

Projected Year Value (2028)

US $14.23 BN

CAGR (2021 - 2028)


Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Fastest Growing Market

North America

According to Stratistics MRC, the Global Transformer Core Market is accounted for $9.28 billion in 2021 and is expected to reach $14.23 billion by 2028 growing at a CAGR of 6.3% during the forecast period. A transformer core is a static device that transmits power from one source to another through electromagnetic induction. The transformer core comprises contains used in various grades, and are introduced in transformers according to the transformer type and capacity.   

Market Dynamics:


Increasing demand for electricity

Rising demand for electricity from every sector is likely to drive the market demand as there is an increase in demand across the globe and a rise in the integration of renewable resources of energy to produce electricity, driving the transformer core market growth. The core is built with numerous thin strips of grain-oriented silicon steel, called laminations, which are electrically isolated from each other by thin coatings of insulating material.


High cost

Transformer cores are highly costly because of the large number of copper wires present in the core. Copper is the most fundamental material utilized in a transformer that plays a huge role in its price. The weight of copper utilized in the transformer decides the cost. With the current going higher, the expense of the wire increases. Similar to the length, the cost increases even with the diameter of the wire.


High demand and expansion of power grids

Grid stability and reliability have driven new speculations and overall spending in the transformer core markets, with fewer significant outages occurring in recent years. Despite a strong focus on grid infrastructure renewal, there has also been a significant expansion of the grid network. There is an ever-expanding capital spending as seen in previous years during the replacement of existing technology with higher-end smart ones, which is providing ample opportunities for market growth.


Fault in the transformer core

Problems arise because of fault in the transformer core, which impacts the transformer. Moreover, issues such as short-circuited core laminations will result in increased losses and possibly overheating of the transformer core. There are short circuits between the turns, between the stages, and between the windings. Most short circuit failures are caused by abnormal tensions on the surge arresters and others because of the deterioration of the insulation oil and the penetration of rain.

The oil segment is expected to be the largest during the forecast period

The oil segment is estimated to have a lucrative growth owing to the implementation of regulatory norms toward efficient grid infrastructure that lead to an expansion in the demand for the market. Oil-cooled transformers are considered more secure when dealing with high voltage applications. With increasing high voltage transmission network expansion activities, the oil-cooled power transformer is likely to grow during the forecast period.

The shell-core segment is expected to have the highest CAGR during the forecast period

The shell-core segment is anticipated to witness the fastest CAGR growth during the forecast period as they are more compact and have great mechanical strength; it is attributed to the rising demand for core in shell core transformers.
Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period because of high demand from the end-use sectors and the offer of electric cities by the large population and the shifting toward the use of energy-efficient technologies. Also, the high demand for transformers from countries with large manufacturing bases shall raise the demand.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period owing to the technical advancements in the power generation sector. North America is additionally the fastest-growing market for transformer core, as the region is witnessing some of the largest T&D expansions being carried out due to rapidly increasing demand in countries.

Key players in the market

Some of the key players profiled in the Transformer Core Market include Ferroxcube International Holding B.V., VilasTranscore Ltd, Toshiba Corporation, Siemens AG, Nicore Magnetic Cores, Arteche, Hyosung Corporation, Crompton Greaves, Fuji Electric Co. Ltd., Eilor Magnetic Cores, Foshan Juli Electromechanical Co, Ltd, Corefficient S.RL, Hitachi, Ltd., ABB Ltd. and Mitsubishi Electric Corporation.  

Key Developments:

In December 2019, Hyosung Corporation acquired Mitsubishi Electric Power Products, Inc.’s high voltage transformer plant in the US state of Tennessee. The acquisition of the MEPPI Memphis plant will assist Hyosung in meeting the growing demand for core-type transformers, with a continued increase in power consumption, expansion in the renewable energy industry, and growing demand for replacement of power devices due to the deterioration of existing power infrastructure.
Designs Covered:
• Closed-Core
• Shell-Core
• Berry
Types Covered:
• Power Transformer
• Isolation Transformers
• Distribution Transformer
• Core Transformers
• Instrument Transformer
Windings Covered:
• Auto Transformer
• Two Winding
Cooling’s Covered:
• Self-Cooled
• Dry Type
Insulations Covered:
• Solid
• Oil
• Gas
• Air
Applications Covered:
• Utility
• Residential & Commercial
• Power
• Industrial
• Consumer Electronics

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary           
2 Preface            
 2.1 Abstract           
 2.2 Stake Holders          
 2.3 Research Scope          
 2.4 Research Methodology         
  2.4.1 Data Mining          
  2.4.2 Data Analysis         
  2.4.3 Data Validation         
  2.4.4 Research Approach         
 2.5 Research Sources          
  2.5.1 Primary Research Sources        
  2.5.2 Secondary Research Sources        
  2.5.3 Assumptions          
3 Market Trend Analysis          
 3.1 Introduction          
 3.2 Drivers           
 3.3 Restraints          
 3.4 Opportunities          
 3.5 Threats           
 3.6 Application Analysis         
 3.7 Emerging Markets           
 3.8 Impact of Covid-19          
4 Porters Five Force Analysis          
 4.1 Bargaining power of suppliers         
 4.2 Bargaining power of buyers         
 4.3 Threat of substitutes         
 4.4 Threat of new entrants         
 4.5 Competitive rivalry          
5 Global Transformer Core Market, By Design        
 5.1 Introduction          
 5.2 Closed-Core          
  5.2.1 E-E Lamination         
  5.2.2 E-I Lamination         
 5.3 Shell-Core          
  5.3.1 U-I Lamination         
  5.3.2 L-L Lamination         
 5.4 Berry           
6 Global Transformer Core Market, By Type        
 6.1 Introduction          
 6.2 Power Transformer          
 6.3 Isolation Transformers         
 6.4 Distribution Transformer         
 6.5 Core Transformers          
 6.6 Instrument Transformer         
7 Global Transformer Core Market, By Winding        
 7.1 Introduction          
 7.2 Auto Transformer          
 7.3 Two Winding          
8 Global Transformer Core Market, By Cooling        
 8.1 Introduction          
 8.2 Self-Cooled          
 8.3 Dry Type           
9 Global Transformer Core Market, By Insulation        
 9.1 Introduction           
 9.2 Solid           
 9.3 Oil           
 9.4 Gas           
 9.5 Air           
10 Global Transformer Core Market, By Application        
 10.1 Introduction          
 10.2 Utility           
 10.3 Residential & Commercial          
 10.4 Power            
 10.5 Industrial           
 10.6 Consumer Electronics         
11 Global Transformer Core Market, By Geography        
 11.1 Introduction          
 11.2 North America          
  11.2.1 US          
  11.2.2 Canada          
  11.2.3 Mexico          
 11.3 Europe           
  11.3.1 Germany          
  11.3.2 UK          
  11.3.3 Italy          
  11.3.4 France          
  11.3.5 Spain          
  11.3.6 Rest of Europe         
 11.4 Asia Pacific          
  11.4.1 Japan          
  11.4.2 China          
  11.4.3 India          
  11.4.4 Australia          
  11.4.5 New Zealand         
  11.4.6 South Korea         
  11.4.7 Rest of Asia Pacific         
 11.5 South America           
  11.5.1 Argentina         
  11.5.2 Brazil          
  11.5.3 Chile          
  11.5.4 Rest of South America        
 11.6 Middle East & Africa         
  11.6.1 Saudi Arabia         
  11.6.2 UAE          
  11.6.3 Qatar          
  11.6.4 South Africa         
  11.6.5 Rest of Middle East & Africa        
12 Key Developments           
 12.1 Agreements, Partnerships, Collaborations and Joint Ventures      
 12.2 Acquisitions & Mergers         
 12.3 New Product Launch          
 12.4 Expansions          
 12.5 Other Key Strategies         
13 Company Profiling           
 13.1 Ferroxcube International Holding B.V.        
 13.2 VilasTranscore Ltd          
 13.3 Toshiba Corporation         
 13.4 Siemens AG           
 13.5 Nicore Magnetic Cores         
 13.6 Arteche           
 13.7 Hyosung Corporation          
 13.8 Crompton Greaves          
 13.9 Fuji Electric Co. Ltd.          
 13.10 Eilor Magnetic Cores         
 13.11 Foshan Juli Electromechanical Co, Ltd        
 13.12 Corefficient S.RL          
 13.13 Hitachi, Ltd.          
 13.14 ABB Ltd.           
 13.15 Mitsubishi Electric Corporation        
List of Tables            
1 Global Transformer Core Market Outlook, By Region (2020-2028) ($MN)      
2 Global Transformer Core Market Outlook, By Design (2020-2028) ($MN)      
3 Global Transformer Core Market Outlook, By Closed-Core (2020-2028) ($MN)     
4 Global Transformer Core Market Outlook, By E-E Lamination (2020-2028) ($MN)     
5 Global Transformer Core Market Outlook, By E-I Lamination (2020-2028) ($MN)     
6 Global Transformer Core Market Outlook, By Shell-Core (2020-2028) ($MN)     
7 Global Transformer Core Market Outlook, By U-I Lamination (2020-2028) ($MN)     
8 Global Transformer Core Market Outlook, By L-L Lamination (2020-2028) ($MN)     
9 Global Transformer Core Market Outlook, By Berry (2020-2028) ($MN)      
10 Global Transformer Core Market Outlook, By Type (2020-2028) ($MN)      
11 Global Transformer Core Market Outlook, By Power Transformer (2020-2028) ($MN)    
12 Global Transformer Core Market Outlook, By Isolation Transformers (2020-2028) ($MN)    
13 Global Transformer Core Market Outlook, By Distribution Transformer (2020-2028) ($MN)    
14 Global Transformer Core Market Outlook, By Core Transformers (2020-2028) ($MN)     
15 Global Transformer Core Market Outlook, By Instrument Transformer (2020-2028) ($MN)    
16 Global Transformer Core Market Outlook, By Winding (2020-2028) ($MN)     
17 Global Transformer Core Market Outlook, By Auto Transformer (2020-2028) ($MN)     
18 Global Transformer Core Market Outlook, By Two Winding (2020-2028) ($MN)     
19 Global Transformer Core Market Outlook, By Cooling (2020-2028) ($MN)       
20 Global Transformer Core Market Outlook, By Self-Cooled (2020-2028) ($MN)     
21 Global Transformer Core Market Outlook, By Dry Type (2020-2028) ($MN)     
22 Global Transformer Core Market Outlook, By Insulation (2020-2028) ($MN)     
23 Global Transformer Core Market Outlook, By Solid (2020-2028) ($MN)      
24 Global Transformer Core Market Outlook, By Oil (2020-2028) ($MN)      
25 Global Transformer Core Market Outlook, By Gas (2020-2028) ($MN)      
26 Global Transformer Core Market Outlook, By Air (2020-2028) ($MN)      
27 Global Transformer Core Market Outlook, By Application (2020-2028) ($MN)     
28 Global Transformer Core Market Outlook, By Utility (2020-2028) ($MN)      
29 Global Transformer Core Market Outlook, By Residential & Commercial (2020-2028) ($MN)    
30 Global Transformer Core Market Outlook, By Power (2020-2028) ($MN)      
31 Global Transformer Core Market Outlook, By Industrial (2020-2028) ($MN)     
32 Global Transformer Core Market Outlook, By Consumer Electronics (2020-2028) ($MN)    
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.


List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at

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