Amorphous Metal Transformer Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2026
- Transparency Market Research
The power grid is highly essential to the infrastructure of our day-to-day lives; there is a strong need for measures to achieve greater efficiency in the grid and, by extension, the grid equipment and systems, as guarding the global environment is becoming a matter of urgency. Amorphous metal transformers are typical transformers with a minute alteration to their magnetic core. An amorphous metal transformer uses an amorphous metal core instead of an ordinary metal core. An amorphous metal lacks the crystalline structure, unlike its conventional substitutes. Amorphous metals resemble the crystalline structure as that of glass, and hence, are also known as glassy metals or metglass. These metals demonstrate excellent strength and superior magnetic properties, which make them ideal for usage in transformers. Transformers with amorphous metal cores are known to provide better efficiency and substantially reduce transmission losses, which in turn saves considerable energy and reduces carbon foot print on the environment.
The key factor driving the amorphous metal transformer market is the energy efficiency and power saving that it offers over conventional power transformers. A substantial quanta of electricity is usually lost to and during transmission of power, these losses occur due to wire resistance and stepping up and down of voltage in a transformer. Eddy current and hysteresis losses, collectively called as core losses, are largely reduced, if not eliminated by employing an amorphous metal transformer to the grid. These savings on a global level can help reduce the strain on the environment and reduce the carbon footprint. Furthermore, the U.S. Department of Energy and similar agencies are enacting increasingly stringent efficiency standards on power transmission equipment, creating a substantial opportunity for major amorphous metal transformer manufacturers. The other regions are also anticipated to exhibit a similar regulation trend, creating a considerable demand for amorphous metal transformers.
Based on the type of transformer, the amorphous metal transformer market can be segmented into single phase and three phase. Three phase is anticipated to be a major segment of the market, as a majority of commercial electricity transmission is three phase-based. Based on power rating, the overall amorphous metal transformer market can be segregated into small (up to 100 kVA) power rating transformers, medium (101 to 500 kVA) power rating transformers, and large (Above 500 kVA) power rating transformers. The type of amorphous metal transformer used varies according to the load and application. Based on application, the amorphous metal transformer can be classified into smart grid, wind energy, solar energy, and others. With renewables on the rise, industry is looking for saving costs in auxiliary equipment such as transformers and similar distribution equipment. Smart grids are gaining traction in developed as well as developing economies.
Based on geography, the global amorphous metal transformer market can be classified into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. North America, followed by Europe, is anticipated to be a key market for amorphous metal transformer. These regions have well-established power grids. However, the aging grid coupled with stringent government norms regarding the efficiency of power transmission equipment is offering exciting opportunities for amorphous metal transformer manufacturers. The replacement and conversion of existing grid into smart grid is a key factor driving the market in these regions. While, developing nations such as India, China, Brazil, and countries in Southeast Asia are boosting the development of their power infrastructure, which in turn is offering significant opportunity for amorphous metal transformer consumption.
Prominent players operating in the global amorphous metal transformer market include Hitachi, Ltd., Rhino Electric Co., Ltd., Kotsons, and Wolong Holding Group Co., Ltd.
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