Transformer Core - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Transformer Core Market is accounted for $6123.5 million in 2017 and is expected to reach $9958.56 million by 2026 growing at a CAGR of 5.6% during the forecast period. Rising demand for transformer core in the power industry, hasty industrialization and urbanization in emanate countries and mounting government investments in renewable energy sources are some of the factors fueling the market growth. However, price fluctuations in electrical steel and ferrite are hindering the market.
The transformer core is one of the basic materials involved in the manufacturing of transformers and power transmission system for insulation, heat dispersion, and reduction of electricity losses. The core is seized together by mechanical structures and is linked to a single grounding point to disintegrate electrostatic accumulation. Transformer core aids in EMI shielding and maintaining uninterrupted power transmission thus raises the overall efficiency of transformers.
Based on the type, Power Transformer segment holds the major growth during the forecast period owing to the growing development of power grids & power generation projects globally, rising demand for electricity generation and the huge quantity of electrical steel used for manufacturing power transformers to clutch heavy loads at power stations.
On the basis of geography, Asia Pacific holds the biggest market share during the forecast period owing to the increasing number of commercial buildings such as shopping malls, multiplexes and commercial complexes & office buildings are primary to a surge in demand for competent electricity transmission frameworks and growing population & rising demand for sustainable sources of energy.
Some of the key players profiled in the Transformer Core Market include Crompton Greaves, Hitachi, Ltd., Mitsubishi Electric Corporation, Fuji Electric Co. Ltd., ABB Ltd., Toshiba Corporation, Ferroxcube International Holding B.V., Hyosung Corporation and Siemens AG.
• Auto Transformers
• Power Transformer
• Isolation Transformers
• Core Transformers
• Distribution Transformer
• Other Types
• Power Industry Transformer
• Consumer Electronics Transformer
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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