Transformer Core Market Size, Share, Growth, Trends, Analysis and Forecast 2017 to 2025

The latest market report published by Credence Research, Inc. “Transformer Core Market By Type (Power Transformers, Distribution Transformers and Others) and Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) — Growth, Future Prospects and Competitive Analysis, 2017–2025,” The global market for transformers core is expected to grow at a CAGR of 4.2 per cent over the forecast period from 2017 to 2025.

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Market Insights

The demand for transforming cores is expected to experience a fast rise in population growth, fast urbanization and an increase in infrastructure development operations around the globe. The demand for electricity has risen enormously in latest years. Advances in technology have resulted to the implementation of electrically powered electronic products for national and commercial reasons. In addition, increasing disposable income per capita and consumer spending skills have boosted the revenues of consumer electronic appliances such as televisions, refrigerators and air conditioners. Increased modernization, particularly in developing nations, fast development in the construction industry, as well as the development of prosperous and high-tech housing complexes and societies have also resulted in a substantial rise in electricity demand. The projection of global GDP is anticipated to reach $83 trillion by 2022, owing to growing demand for infrastructure projects as well as growing industrialisation, leading to an rise in demand for electricity generation in order to meet the spiraling demand for electricity in the manufacturing and consumer electronics industries. In addition, heavy investment in industrial and national building, rail and airports has driven the general development of the worldwide key transforming industry.

The worldwide key market for transformers is currently experiencing bright possibilities as a result of growing investments in the development of power grids. Improving living standards and growing demand for household electrical equipment, followed by development in the business industry, including schools, hospitals, retail and grocery stores, office buildings, are some of the key elements requiring efficient power transmission. In addition, an increasing amount of industrial deployments fueled the demand for effective power grids, which, in turn, is anticipated to drive the general key market for transformers.

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Competitive Insights

The key players in the global transformer core market are investing more on research & development activities to introduce cheaper and more efficient products to avoid core losses especially in distribution transformers. Some of the major players operating in the global transformer core market include Ferroxcube International Holdings B.V., Siemens AG, ABB Ltd., Hyosung, Mitsubishi Electric, Toshiba, Crompton Greaves, Fuji Electric and Hitachi Ltd. among others.

Key Trends

Increasing demand for electricity generation
Increasing demand for transformer cores in power transformers
Increasing investments by governments to integrate renewable sources of energy

By Type

Power Transformers
Distribution Transformers
Others

By Geography Segment

North America
Europe
Asia Pacific (APAC)
Middle East & Africa (MEA)
Latin America

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