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Global Amorphous Metal Cores Market is valued approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028. The Amorphous Metal Cores refer to cores manufactured from ferromagnetic amorphous metal formed into thin foils. Use of amorphous metal in the transformer offers several advantages over other silicon core-based transformer such as No-load losses are 20 to 30% less as compared to a conventional silicon steel sheet transformer, modular construction facilitates easy and fast repair, higher distribution efficiency, and offers better Overload capacity. The rising electricity demand globally and increasing adoption of metal cores due to low losses as well as recent product launches and collaborations activities are factors that are accelerating the global market demand. For instance, according to Statista - in 2020, the global demand for electricity was estimated at 23.40 petawatt hours, and this amount is projected to grow to around 35.3 petawatt hours by end of 2040. Furthermore, In February 2021, South Carolina, US based Metglas, Inc. launched its new domain refined amorphous metal for core loss reduction named Metglas HB1M-LL material. Metglas HB1M-LL is developed for use in the next generation of high efficiency distribution transformers. Moreover, in January 2022, The Government of India, the Government of West Bengal, and the World Bank signed a USD 135 million project to improve the efficiency and reliability of electricity supply in the state of West Bengal. Also, growing number of investments towards electrification projects. And rapid urbanization and rising industrialization in emerging markets are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, high cost associated with amorphous metal cores and availability of substitutes impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Amorphous Metal Cores Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing demand for transmission and distribution equipment's and presence of leading market players in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as rising expansion of electrification projects and rising demand for electricity in the region, would create lucrative growth prospects for the Amorphous Metal Cores Market across the Asia Pacific region.
Major market players included in this report 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.
Ti-Electronic
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type
E Core
C Core
Others
By Application
Iron Based
Cobalt Based
By End Use
Invertors
Transformers
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Amorphous Metal Cores Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors