Transformer
core is a basic material involved in the manufacturing of transformers and
power transmission system for heat dispersion, insulation, and reduction of
electricity losses. It encompasses primary, secondary and tertiary metallic
meandering used in diverse grades. They are fitted in transformers that depend
upon the transformer type and its capacity. A low reluctance magnetic path
identified as the core of the transformer, common to all the windings, upsurges
the overall efficiency of transformers. The efficiency of the transformer
depends on the flux linkages between the core windings. The cores help in EMI
shielding and maintaining uninterrupted power transmission to increase the
overall efficiency of transformers that hinge on the links between the flux and
core windings.
Based
on material type, transformer cores market is segmented into solid cores and
steel laminated cores. Based on design, market is segmented into shell-core and
closed-core. Shell-core design includes E-I Lamination and E-E Lamination.
Whereas closed-core design includes L-L Lamination and U-I Lamination. In
addition, based on type, market is segmented into distribution transformers,
power transformers and others (isolation transformers and auto transformers).
Power transformers accounts for major share in market owing to rise in demand
for electricity generation.
The
transformer cores market is driven by growth in transmission & expansion to
integrate renewable energy resources, followed by rapid industrialization &
urbanization, increase in number of power transformers, rise in infrastructural
development, increase in investments in grid renovation projects in developing
economies and rise in demand for electricity generation. However, change in
regulatory environment and volatile prices of raw materials may impact the
market. Moreover, increase in green initiatives and New Power Generation &
Distribution Projects are key opportunities for market.
Based
on geography, the Asian-Pacific region dominates the transformer cores market,
followed by European region owing to rise in population, increase in economy,
rise in need for integration of renewable sources of energy for electricity
generation and growth in demand for sustainable sources of energy in the
region. Whereas, the North-American region is estimated to witness higher
growth rate due to mature market and rise in number of commercial buildings
such as multiplexes, shopping malls and offices over the forecast period. In
upcoming years, it is predicted that future of the market will be bright on
account of rise in demand for electricity and growth in number of power
projects during the forecast period.
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