Transformer Core Market to Hit $8,897 million by 2022, At CAGR of 3.5%

Global 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. Major drivers of the market are 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. However, price fluctuations in electrical steel and ferrite could hamper the growth of the market.

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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.

The rising need for integration of renewable sources of energy for electricity generation along with infrastructural development in emerging economies, such as India, China, Indonesia, Chile, Brazil, and Argentina are expected to pose opportunities for the players in the world transformer core market.

The power transformer segment occupied around half of the overall transformer core market, and is expected to maintain its lead. This is due to the large quantity of electrical steel used for manufacturing power transformers to carry heavy loads at power stations.

Key players in the world transformer core market are:

ABB Ltd.
Siemens AG
Mitsubishi Electric Corporation
Crompton Greaves
Toshiba Corporation
Hitachi, Ltd.
Fuji Electric Co. Ltd.
Ferroxcube International Holding B.V

The following are the regions covered in this report.

North America [U.S., Canada, Mexico]
Europe [Germany, UK, France, Italy, Rest of Europe]
Asia-Pacific [China, India, Japan, South Korea, Southeast Asia, Australia, Rest of Asia Pacific]
South America [Brazil, Argentina, Rest of Latin America]
Middle East & Africa [GCC, North Africa, South Africa, Rest of Middle East and Africa]

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Key Findings of Transformer Core Market

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

Global transformer core market is projected to be 2,536 kilo tons.

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 in the Asia-Pacific transformer core market.

India is estimated to grow at the highest CAGR of 7.5%, in terms of revenue.

Reasons for Buying this Report:

Complete analysis on market dynamics, market status and competitive transformer core view is offered.

Forecast Global transformer core Industry trends will present the market drivers, constraints and growth opportunities.

The five-year forecast view shows how the market is expected to grow in coming years.

All vital Global transformer core Industry verticals are presented in this study like Product Type and Geographical Regions.

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