Transformer Core Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Transformer core comprises primary, secondary, or tertiary windings utilized in different grades, and are installed in transformers according to the transformer type and capacity. A low reluctance magnetic path known as the core of the transformer, common to all the windings, increases the overall efficiency of transformers. The efficiency of a transformer depends on the flux linkages between the core windings. The global transformer core market has witnessed considerable growth in the recent past, owing to rise in government investment in renewable power projects and rapid industrialization & urbanization.

MARKET SCOPE

The "Global Transformer core Market Analysis to 2031" is a specialized and in-depth study of the Transformer core market with a special focus on the global market trend analysis. The report aims to provide an overview of Transformer core market with detailed market segmentation by product, application, and geography. The global Transformer core market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Transformer core market players and offers key trends and opportunities in the Transformer core market.

MARKET SEGMENTATION

•  The global Transformer core market is segmented on the basis of product, and application.
  
•  On the basis of product, the market is segmented as distribution transformer, power transformer, instrument transformer.
  
•  On the basis of application the market is segmented into residential, industrial, and utility.
  

MARKET DYNAMICS

Drivers:

•  Increase in demand for electricity production across the globe.
  
•  Rise in integration of renewable sources of energy.
  

Restraints:

•  High consumption of copper wires.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Transformer core market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Transformer core market in these regions.

IMPACT OF COVID-19 ON TRANSFORMER CORE MARKET

COVID-19 has impacted various industries due to shut down of different industrial operations and disrupted supply chain. Maximum companies halted their operation due to less workforce. However, there is a gradual decline in the hardware industry which has high negative impact on transformer core due to COVID-19.
The electric industry accounted for significant share in terms of consumption of transformer core globally. The demand for electricity has increased due to the significant reductions in services and industry only partially offset by higher residential use, which, in turn, increases the demand for transformer core market.
According to the Organization for Economic Co-operation and Development (OECD), a surge in the price of crude oil began during the lockdown, due to extensive supply and less demand of crude oil, which increased the production of electricity. However, the demand for transformer is increased, which, in turn, increased the demand for transformer core market..

MARKET PLAYERS

The report covers key developments in the Transformer core market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Transformer core market market are anticipated to lucrative growth opportunities in the future with the rising demand for Transformer core market in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Transformer core market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•  Arteche
  
•  Corefficient S.RL
  
•  Eilor Magnetic Cores
  
•  Foshan Juli Electromechanical Co, Ltd
  
•  KRYFS,
  
•  Megger
  
•  Metglas, Inc
  
•  Nicore Magnetic Cores
  
•  Power Core Industries
  
•  VilasTranscore Ltd
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Transformer Core Report Scope