Transformer Core Market 2021 Estimated to Expand at a Robust CAGR by 2027

Asia-Pacific and LAMEA collectively accounted for approximately 60% revenue share of the transformer core market and are expected to maintain this trend throughout the forecast period. This is due to the rise in infrastructural and industrial development, especially in China, India, and other developing economies. The growth of the world transformer core market is expected to be driven by the increase in demand for electricity generation, especially in the Asia-Pacific and LAMEA regions.

Transformer core market is on a continuous rise due to increase in government investment in renewable power projects as well as the rapid industrialization and urbanization. Rising demand for electricity from various industries, increasing demand for transmission, and expansion of power projects to integrate renewable energy resources along with rapid urbanization globally are the major drivers of the market. However, price fluctuations in electrical steel and ferrite could hamper the growth of the transformer core market.

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Key players in the world transformer core market are concentrating on acquiring local players to strengthen their market reach as well as to expanding their customer base. Major companies profiled in the report include ABB Ltd., Siemens AG, Mitsubishi Electric Corporation, Crompton Greaves, Toshiba Corporation, Hitachi, Ltd., Fuji Electric Co. Ltd., and Ferroxcube International Holding B.V

Key Findings of Transformer Core Market

Power transformer is anticipated to grow the fastest rate during the analysis period.

Asia-Pacific is estimated to continue to lead the market, growing at a CAGR of 6.0%, in terms of volume.

China occupied more than half of the total share of the Asia-Pacific transformer core market in 2015.
India is estimated to grow at the highest CAGR of 7.5%, in terms of revenue.

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