Transformer core is a basic material involved in the manufacturing of transformers and power transmission system for heat dispersion, insulation, and reduction of electricity losses. It encompasses primary, secondary and tertiary metallic meandering used in diverse grades. They are fitted in transformers that depend upon the transformer type and its capacity. A low reluctance magnetic path identified as the core of the transformer, common to all the windings, upsurges the overall efficiency of transformers. The efficiency of the transformer depends on the flux linkages between the core windings. The cores help in EMI shielding and maintaining uninterrupted power transmission to increase the overall efficiency of transformers that hinge on the links between the flux and core windings.
According to study, “Global Transformer Cores Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” the key companies operating in the global transformer cores market are Mitsubishi Electric, HYOSUNG, ABB Ltd., TOSHIBA, SIEMENS, SGB-SMIT, Alstom, Fuji Electric, Hitachi, TDK, ZTR, Efacec, CG, Fair-Rite Products Corp., SPX, Ferroxcube, Laird, Wujiang Transformer, TBEA, Tianwei Group, JSHP Transformer, Liye Power Transformer, China XD Group, Luneng Mount.Tai Electric, Dachi Electric, Sanbian Sci-Tech, Qiantang River Electric, Gaotune technologies, AT&M. The key players are directing towards the launch of innovative & efficient products to endure stiff competition in the global market. They are allocating considerable funds to the research & development (R&D) of enhanced products to cater to the customer requirements.
Based on material type, transformer cores market is segmented into solid cores and steel laminated cores. Based on design, market is segmented into shell-core and closed-core. Shell-core design includes E-I Lamination and E-E Lamination. Whereas closed-core design includes L-L Lamination and U-I Lamination. In addition, based on type, market is segmented into distribution transformers, power transformers and others (isolation transformers and auto transformers). Power transformers accounts for major share in market owing to rise in demand for electricity generation.
The transformer cores market is driven by growth in transmission & expansion to integrate renewable energy resources, followed by rapid industrialization & urbanization, increase in number of power transformers, rise in infrastructural development, increase in investments in grid renovation projects in developing economies and rise in demand for electricity generation. However, change in regulatory environment and volatile prices of raw materials may impact the market. Moreover, increase in green initiatives and New Power Generation & Distribution Projects are key opportunities for market.
Based on geography, the Asian-Pacific region dominates the transformer cores market, followed by European region owing to rise in population, increase in economy, rise in need for integration of renewable sources of energy for electricity generation and growth in demand for sustainable sources of energy in the region. Whereas, the North-American region is estimated to witness higher growth rate due to mature market and rise in number of commercial buildings such as multiplexes, shopping malls and offices over the forecast period. In upcoming years, it is predicted that future of the market will be bright on account of rise in demand for electricity and growth in number of power projects during the forecast period.
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Ankur Gupta, Head Marketing & Communications