Amorphous Core Transformers Market: Insights
The global amorphous core transformers market is estimated to witness a significant CAGR during the forecast period (2020-2026). An amorphous core transformer is a highly efficient electrical transformer with a magnetic core consisting of amorphous ferromagnetic metal alloyed with a glass former. The materials used in amorphous core transformers have high magnetic susceptibility, low coercion and high resistance to electrical energy. However, high failure rate and stringent government regulations are likely to hamper the market growth during the forecast period.
Amorphous Core Transformers Market: By Type
Based on type, amorphous core transformers market is segmented into oil-immersed, and dry-type. The dry-type segment is expected to grow at a high CAGR during the forecast period. Dry-type transformers, also known as cast resin transformers, are power transformers enclosed in epoxy resin with windings. These type of transformers are used for industrial, utility and commercial applications.
Amorphous Core Transformers Market: By Application
Based on application, the global amorphous core transformers market is segmented into factory, electric pole, and building, among others.
Amorphous Core Transformers Market: By Region
Based on region, the global amorphous core transformers market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. North America is expected to hold the largest market share during the forecast period. Asia-Pacific is expected to grow at the highest CAGR during the forecast period. The growing development of the power infrastructure is one of the significant factors driving the market growth. Growing favorable government policies are also driving the market growth in the region.
Amorphous Core Transformers Market: Share & Competitor Analysis
Some of the key players operating in the amorphous core transformers market include: Hitachi, ABB, Siemens, Zhixin Electric, Vijai, CG Global, Howard Industries, STS, CREAT, BRG, Sunten, Eaglerise, Tianwei Group, ProlecGE, Kotsons, Yangdong Electric, and Powerstar, among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In May 2020, ABB signed an agreement with Metsä Fibre to supply electrification and drive technology for new Finnish bioproduct mill in Kemi, Northern Finland.
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