In the ever-evolving landscape of power transmission equipment, the amorphous metal cores market is poised for a remarkable journey ahead. Projections indicate a robust Compound Annual Growth Rate (CAGR) of 7.5% during the forecast period from 2022 to 2032, transforming the market from its 2022 valuation of US$ 781.6 Million to a striking US$ 1610.90 Million by 2032.
The driving force behind this surge in demand for amorphous metal cores lies in their transformative impact on the efficiency and sustainability of power transmission. These cores, featuring amorphous alloys in the iron core of transformers, play a pivotal role in the quest to reduce energy consumption and operational costs. But it's not just about economics; it's also about environmental responsibility.
One of the standout attributes of amorphous alloys is their ability to significantly reduce energy costs. In power transformers, these alloys offer superior magnetic properties, resulting in reduced energy loss during electrical conversion. This means that less electricity is wasted as heat, ultimately translating into lower operational expenses for power transmission equipment manufacturers. In a world where energy efficiency is not only a cost-saving measure but also an environmental imperative, amorphous metal cores are becoming indispensable.
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Amorphous Metal Cores Market: Dynamics
The amorphous alloy in the iron core of 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 reduces their operating cost. This has encouraged amorphous metal cores manufacturers to develop optimized and energy efficient products for use in distribution transformers. Normally, 10% of 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 high cost per unit of large sized amorphous core transformers. Although, it’s increased energy efficiency and low operational costs throughout the lifetime of transformer, could help compensate its high initial costs. Therefore, despite of high costs, the above mentioned factors are estimated to boost the market demand for amorphous metal cores in the coming years.
On the flip side, amorphous metal cores shows 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 it un-friendly to the transformer manufacturers. Due to these limitations, the amorphous metal core technology has been limited at present to very few customers across geographies.
Key Players:
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.
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Key Segments Covered:
By Product Type:
- E Core
- C Core
- Others
By Application:
- Iron Based
- Cobalt Based
By End Use:
- Invertors
- Transformers
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific
- Japan
- Middle East Africa
