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Transformer Core Market By Type (Power Transformers, Distribution Transformers and Others) - Growth, Future Prospects and Competitive Analysis, 2017 - 2025

Transformer cores are primary, secondary, or tertiary metallic windings used in diverse grades, and are fitted in transformers depending upon the type of transformer and its capacity. A low reluctance magnetic winding, also known as transformer core, is common to all the windings present in the transformer. The core is usually arranged around the windings to offer multiple paths for the magnetic waves to traverse. The core is seized together by mechanical structures and is connected to a single grounding point to disintegrate electrostatic accumulation. Transformer core helps in EMI shielding and maintaining uninterrupted power transmission, thus increases the overall efficiency of transformers. The efficiency of a transformer hinge on the links between the flux and core windings. The transformer core market has foreseen significant growth over the past few years owing to increase in investments by governments in renewable power schemes coupled with rapid industrialization & urbanization.

Increase in demand for electricity production across the globe and growth in the integration of renewable energy sources to generate electricity are some major aspects driving the market growth. Power transformers require more amount of core than distribution transformers due to large size. Thus, the amount of transformer cores installed in distribution transformers is estimated to decrease due to a rapid increase in the development of power generation projects and new power grids. This in turn is accelerating the number of power transformers, which is a major trend prevailing in the global transformer core market.

However, several challenges such as increasing fluctuations in prices of raw material and variations in regulatory environment are expected to impede the market growth.

On the basis of type, power transformers accounts for a major share in the global transformer core market owing to increasing demand for electricity generation which in turn require large electricity grids. Thus, use of power transformers at electricity production sites is expected to drive the overall demand over the forecast period.

Asia Pacific is expected to be the dominant region due to increasing population and increasing demand for sustainable sources of energy. Also, increasing growth of Chinese and Indian economy is a major factor driving the growth of Asia Pacific transformer core market. Rapid urbanization in India and China is leading to an unprecedented demand for new infrastructural projects. Rising number of commercial buildings such as shopping malls, multiplexes and commercial complexes & office buildings are leading to a surge in demand for efficient electricity transmission frameworks, thus driving the Asia-Pacific transformer core market.

Transformer Core Market

The global transformer core market can be categorized on the basis of regions and countries as:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC Countries
    • Rest of MEA

Transformer Core Market

The Asia-Pacific transformer core market is growing at a rapid pace. This growth is mainly attributed to the enhancement of grid infrastructure and increasing demand for electricity especially in densely populated countries such as India and China. The Asia-Pacific transformer core market is expected to grow at a significant pace, owing to increasing investments for installation of renewable energy-based power projects. In addition, Asia-Pacific region is one of the largest consumers of transformer cores due to increased focus of governments to improve urban and rural infrastructures. China dominates the Asia-Pacific transformer core market, followed by India, due to expeditious rise in the demand for sustainable and efficient electricity transmission in various application industries. Increasing need for automation and deployment of technological advancements drives the demand for transformer cores in the region. Rapid industrialization and expansion of electric networks in the region further drives the market growth. North America is expected to account for the second largest share due to presence of a large number of thermal power plants in the region. Moreover, increasing usage of independent transformers especially in industrial applications is expected to drive the North America transformer core market.

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Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
Trusted By
Godaddy
Published Date:  Dec 2017
Category:  Advanced Materials
Report ID:   58928
Report Format:   PDF
Pages:   120
Rating:    4.2 (27)
Delivery Time: 24 Hours to 48 Hours   
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