Portland, OR - The global transformer core market analysis covers in-depth information about the major industry participants.

Allied Market Research has announced that the global transformer core market size was valued at $8.9 billion in 2020, and the global transformer core market forecast is projected to reach $13.5 billion by 2030, with a global market forecast expected at a CAGR of 4.3% from 2021 to 2030. The global transformer core market analysis covers in-depth information about the major industry participants.

The key players operating and profiled in the report include Arteche, Corefficient S.R.L., Eilor Magnetic Cores, Foshan Juli Electromechanical Co., Ltd., KRYFS, Megger, Metglas, Inc., Nicore Magnetic Cores, Power Core Industries, and VilasTranscore Ltd.

Based on core, the closed segment emerged as the global leader in 2020 and is anticipated to be the largest market during the forecast period.

By product, the power transformer segment emerged as the global leader in 2020 and is anticipated to be the largest market during the forecast period.

Depending on the winding, the autotransformer segment registered the highest market share and is projected to maintain the same during the forecast period.

As per cooling, the dry type segment registered the highest market share and is projected to maintain the same during the forecast period.

According to insulation, the gas segment registered the highest market share and is projected to maintain the same during the forecast period.

By application, the industrial segment registered the highest market share and is projected to maintain the same during the forecast period.

Asia-Pacific registered the highest market share and is projected to maintain the same during the forecast period.

According to Allied Market Research, an increase in demand for electricity production across the globe and a rise in the integration of renewable sources of energy to produce electricity drive the transformer core market growth. However, factors such as rapid fluctuations in raw material prices and changes in the regulatory environment are expected to hinder market growth. 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 decline, owing to an increase in the expansion of power grids and power generation projects, thus fueling the total number of power transformers.

Source: Allied Market Research