The amorphous metal cores market is expected to record a CAGR of 7.5% during the forecast period 2022 to 2032, up from USD 781.6 Million in the year 2022 to reach a valuation of USD 1610.90 Million by 2032.
| Report Attributes | Details |
|---|---|
| CAGR | 7.5% |
| Value (2022) | USD 781.6 Million |
| Value (2032) | USD 1610.90 Million |
The amorphous metal cores market is anticipated to show promising growth prospects in the forecasted period 2022 to 2032.
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The amorphous alloy in the iron core of the transformer significantly reduces energy costs and helps increase electrical characteristics while reducing the level of CO2 emissions. Power transmission equipment manufacturers today are searching for a technology that saves energy and decreases their operating costs.
This has encouraged amorphous metal cores manufacturers to develop optimized and energy-efficient products for use in distribution transformers. Normally, 10% of the total electricity generated by an electric company is lost during the distribution and transmission process.
Thus, distribution transformers consisting of amorphous metal cores help save a significant amount of energy and cost. Other uses that benefit from amorphous metal cores include output filter chokes in large Switched-Mode Power Supply (SMPS), power factor correction chokes in UPS systems, and high-power lamp ballasts.
The initial costs of amorphous metal cores are relatively higher as compared to crystalline silicon steel owing to certain beneficial properties such as lower saturation magnetic flux density of amorphous steel than that of silicon steel, which is mostly preferred by transformer manufacturers.
This results in a high cost per unit of large-sized amorphous core transformers. Although, its increased energy efficiency and low operational costs throughout the lifetime of the transformer could help compensate for its substantial initial costs. Therefore, despite high costs, the above-mentioned factors are estimated to boost the market demand for amorphous metal cores in the coming years.
On the other hand, amorphous metal cores have various limitations which may curb the market growth. Hardness, along with reduced thickness, makes slitting and shearing difficult. Moreover, the brittleness property of amorphous metal cores has also made them un-friendly to transformer manufacturers. Due to these limitations, the amorphous metal core technology has been limited at present to very few customers across geographies.
In North America, the global amorphous metal cores market is projected to witness lucrative growth opportunities owing to the USA agreeing to expand the production of amorphous metal core transformers for efficient distribution & transmission of electricity.
The amorphous metal cores market is expected to grow at a rapid pace during the forecast period, due to the high per capita electricity consumption in the USA Governments and utilities are taking various initiatives to introduce energy-efficient transforming solutions, which is anticipated to drive revenue growth.
Moreover, regions such as East Asia and South Asia are also estimated to witness lackluster growth driven by major installations of amorphous metal core transformers in India and China. The recent electrification projects are heavily investing in energy-efficient technology which is expected to drive growth for the amorphous metal cores market over the slated time period.
The European countries are also facing an upsurge in the amorphous metal cores market. For instance, Spanish utility companies have started to import the amorphous metal core transformers and are also promoting in-house manufacturing of the same with local manufacturers.
Since amorphous metal cores do not have anisotropic properties, it shows excellent magnetic behavior such as minimum iron loss while having high-saturation magnetic flux density with high permeability. Amorphous metal cores are generally used in distribution transformers.
In terms of the end-use sector, Amorphous metal cores are commonly preferred in renewable energy systems such as solar power and wind energy, as they typically operate with 20 - 40% low load conditions. Amorphous metal cores have been used in liquid-filled transformers for over 20 years, and now this technology is trending in dry-type transformers as well.
The global amorphous metal cores market has numerous small-scale and international manufacturers at the regional level. Few industry players are identified across the value chain of the global amorphous metal cores market, which are Hitachi, Ltd., Advanced Technology & Materials Co., Ltd., Zhaojing Incorporated, Qingdao Yunlu New Energy Technology Co., Ltd., China Amorphous Technology Co.,Ltd, ENPAY, Mangal Electrical Industries Pvt. Ltd., KOTSONS Pvt. Ltd., Usha Amorphous Metals Ltd., and Ti-Electronic.
| Report Attribute | Details |
|---|---|
| Growth rate | CAGR of 7.5% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Historical data | 2015 to 2021 |
| Forecast period | 2022 to 2032 |
| Quantitative units | Revenue in USD Million/ Billion and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis |
| Segments covered | Product Type, Application, End Use & Region |
| Regional scope | North America (USA, Canada); Latin America (Mexico, Brazil); North America (USA, Canada); Latin America (Mexico, Brazil); Western Europe (Germany, Italy, France, UK, Spain); Eastern Europe (Poland, Russia); Asia Pacific (China, India, ASEAN, Australia & New Zealand); Japan; Middle East and Africa (GCC Countries, S. Africa, Northern Africa) |
| Country scope | USA, Canada, Mexico, Brazil, USA, Canada, Mexico, Brazil, Germany, Italy, France, UK, Spain, Poland, Russia, China, India, ASEAN, Australia & New Zealand, Japan, GCC Countries, S. Africa, Northern Africa |
| Key companies profiled | Hitachi, Ltd., Advanced Technology & Materials Co., Ltd., Zhaojing Incorporated, Qingdao Yunlu New Energy Technology Co., Ltd., China Amorphous Technology Co.,Ltd, ENPAY, Mangal Electrical Industries Pvt. Ltd., KOTSONS Pvt. Ltd., Usha Amorphous Metals Ltd., Ti-Electronic |
| Customization scope | Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
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The amorphous metal cores market is expected to record a CAGR of 7.5% during the forecast period 2022 to 2032, up from USD 781.6 Million in the year 2022 to reach a valuation of USD 1610.90 Million by 2032
Key players holding substantial market share are Hitachi, Ltd., Advanced Technology & Materials Co., Ltd., Zhaojing Incorporated, Qingdao Yunlu New Energy Technology Co., Ltd., China Amorphous Technology Co.,Ltd, ENPAY, Mangal Electrical Industries Pvt. Ltd., KOTSONS Pvt. Ltd., Usha Amorphous Metals Ltd., and Ti-Electronic.
As per the analysis, the amorphous metal cores market share is likely to be USD 1610.90 Million by 2032.
Amorphous Metal Cores are being increasingly used in transformers and inverters, which is leading to the market's growth.
| Market Estimated Size (2023) | USD 419.7 billion |
|---|---|
| Projected Market Value (2033) | USD 635.8 billion |
| Value-based CAGR (2023 to 2033) | 4.2% |
| Market Value (2022) | USD 1210 Million |
|---|---|
| Market Anticipated Value (2032) | USD 2667 Million |
| Projected Growth Rate (2022 to 2032) | 8.3% |
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Amorphous Metal Cores Market
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