Amorphous Alloys Transformer Market Forecasts to 2030 – Global Analysis By Product Type (Vertical, Wall-mounted, Oil-immersed, High Pressure, Low Pressure and Other Product Types), Core Structure (Wound Core, Laminated Core), Voltage Rating (Low Voltage, Medium Voltage and High Voltage), Cooling Method, Distribution Channel, Application and By Geography
According to Stratistics MRC, the Global Amorphous Alloys Transformer Market is accounted for $1.88 billion in 2023 and is expected to reach $4.16 billion by 2030 growing at a CAGR of 12.0% during the forecast period. A power transformer with an amorphous metal serving as the active material in at least one of its windings is known as an amorphous alloy transformer. Additionally, compared to traditional crystalline metals, amorphous metal has distinct electrical properties that enable transformers to have lower no-load losses and better load regulation.
According to a 2008 study by Strategies for development and diffusion of Energy-Efficient Distribution Transformers around 4.6 million distribution transformers are installed in the EU. Their losses exceed 38 TWh/year - this is more than the entire amount of electricity consumed by Denmark (or 8.5% of the electricity consumed in the UK) and equates to 30million tonnes of CO2.
Market Dynamics
Driver
Sustainability and environmental regulations
Adoption of amorphous alloy transformers has been encouraged by stronger regulations aimed at reducing greenhouse gas emissions and an increasing focus on environmental sustainability. Moreover, by assisting in the substantial reduction of energy losses and the mitigation of the environmental effects of electricity distribution, these transformers support green energy initiatives.
Restraint
Higher initial cost
Amorphous alloy transformers can have a higher initial cost, which can be a major obstacle for organizations on a tight budget. Furthermore, the disparity in cost can be attributed to distinct alloy materials, specialized manufacturing techniques, and reduced production economies of scale. Even though these transformers provide long-term energy savings, some potential users may be discouraged by the initial outlay, particularly in markets with tight financial resources.
Opportunity
Initiatives for sustainability
Global sustainability initiatives can benefit greatly from the use of amorphous alloy transformers. Through the reduction of energy losses, they help to lessen the environmental impact of power distribution. Moreover, the use of these transformers supports these objectives and strengthens an organization's standing as an environmentally conscious business or government agency as sustainability becomes an integral part of agendas.
Threat
Insufficient standardization
Variations in product quality and performance can result from the lack of standard testing and rating protocols for transformers made of amorphous alloys. However, there isn't an industry-wide standard to guarantee consistency in testing and performance procedures, so users might have trouble comparing and choosing appropriate transformers.
Covid-19 Impact
The COVID-19 pandemic had a significant effect on a number of markets, lowering demand, upsetting supply chains, and creating uncertainty in the economy. Regarding amorphous alloy transformers, the early stages of the pandemic caused delays in supply chain and manufacturing, this could have affected project deadlines. Additionally, in order to improve energy management, lower operating costs, and address environmental concerns in the post-pandemic landscape, organizations sought to accelerate the shift to more efficient transformer technologies, which were made possible by the pandemic.
The Oil-immersed segment is expected to be the largest during the forecast period
It is anticipated that the oil-immersed segment will hold the largest market share. Because of their dependable and well-proven performance, oil-immersed transformers are widely used in many different applications, such as power distribution and industrial settings. Numerous industries and utility companies choose these transformers because of their reputation for effectively managing high voltage and power loads. Their oil insulation provides efficient insulation for increased efficiency in addition to cooling assistance. Furthermore, they cemented their dominant position in the market by being able to accommodate a broad range of voltage and power requirements due to their availability in multiple capacities.
The Renewable Energy segment is expected to have the highest CAGR during the forecast period
It is expected that the market's highest CAGR will belong to the renewable energy segment. Renewable energy technologies like wind, solar, and hydropower are becoming more widely used as a result of the world's shift towards clean and sustainable energy sources. Moreover, transformers and other modern, efficient electrical infrastructure are needed for these technologies to be supported on the grid. Transformer demand has increased in the renewable energy sector due to the focus on lowering carbon emissions and switching to green energy sources, which has resulted in a high growth rate.
Region with largest share
Due to the widespread adoption of energy-efficient technologies, particularly in nations like China and India, Asia-Pacific held the largest share in the market for amorphous alloy transformers. However, these countries are undergoing significant industrial and infrastructure development, which has raised the need for cutting-edge power distribution systems to reduce energy losses and improve overall energy efficiency. The market has grown even more as a result of favorable government policies and incentives in these areas that have promoted the installation of transformers made of amorphous alloys.
Region with highest CAGR
The amorphous alloy transformer market is expected to grow at the highest CAGR in the North American region. Numerous factors contributed to this growth, such as the emphasis on lowering environmental impact and increasing energy efficiency. Moreover, amorphous alloy transformer demand is growing in the utility and industrial sectors in the US and Canada as a result of stricter regulations and a greater focus on sustainable energy solutions.
Key players in the market
Some of the key players in Amorphous Alloys Transformer market include SUNTEN, ABB, TBEA, STS, Tianwei Group, BRG, Wilson, Powerstar, ProlecGE, CEEG, Vijai Electricals, Yangdong Electric, CREAT, Zhixin Electric and Hitachi.
Key Developments
In October 2023, ABB has signed a Memorandum of Understanding (MoU) agreement with UK-based clean technology group Altilium to jointly explore how the integration of automation, electrification, and digital technologies in plants across Europe can support the scaling up of battery materials recycling. Altilium is developing green processing technologies and building infrastructure at scale for the recycling of metals and electric vehicle (EV) battery waste, with the aim of ensuring a domestic supply chain of low-carbon battery materials for the automotive industry.
In September 2023, Hitachi Energy India Ltd (HEIL) on said it has won a contract from Ayana Renewable Power to provide a grid connection solution for their upcoming 300-megawatt (MW) solar photovoltaic power plant in Bikaner, Rajasthan.
In December 2022, STS Medical Group and Industrial affiliate the Federation of Light Industry, signed their first collective agreement. The signing took place four days after a protest rally where hundreds of workers demanded adequate pay for their work.
Product Types Covered
• Vertical
• Wall-mounted
• Oil-immersed
• High Pressure
• Low Pressure
• Other Product Types
Core Structures Covered
• Wound Core
• Laminated Core
Voltage Ratings Covered
• Low Voltage
• Medium Voltage
• High Voltage
Cooling Methods Covered
• Oil Cooled
• Dry-type
Distribution Channels Covered
• Direct Sales
• Distribution
Applications Covered
• Power Plant
• Electronic Equipment
• Power Construction
• Industry
• Residential
• Glass
• Semiconductor
• Renewable Energy
• Infrastructure & Transportation
• Other Applications
Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
- 1 Executive Summary
- 2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
- 3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Product Analysis
- 3.7 Application Analysis
- 3.8 Emerging Markets
- 3.9 Impact of Covid-19
- 4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
- 5 Global Amorphous Alloys Transformer Market, By Product Type
- 5.1 Introduction
- 5.2 Vertical
- 5.3 Wall-mounted
- 5.4 Oil-immersed
- 5.5 High Pressure
- 5.6 Low Pressure
- 5.7 Other Product Types
- 6 Global Amorphous Alloys Transformer Market, By Core Structure
- 6.1 Introduction
- 6.2 Wound Core
- 6.3 Laminated Core
- 7 Global Amorphous Alloys Transformer Market, By Voltage Rating
- 7.1 Introduction
- 7.2 Low Voltage
- 7.3 Medium Voltage
- 7.4 High Voltage
- 8 Global Amorphous Alloys Transformer Market, By Cooling Method
- 8.1 Introduction
- 8.2 Oil Cooled
- 8.3 Dry-type
- 9 Global Amorphous Alloys Transformer Market, By Distribution Channel
- 9.1 Introduction
- 9.2 Direct Sales
- 9.3 Distribution
- 10 Global Amorphous Alloys Transformer Market, By Application
- 10.1 Introduction
- 10.2 Power Plant
- 10.3 Electronic Equipment
- 10.4 Power Construction
- 10.5 Industry
- 10.6 Residential
- 10.7 Glass
- 10.8 Semiconductor
- 10.9 Renewable Energy
- 10.10 Infrastructure & Transportation
- 10.11 Other Applications
- 11 Global Amorphous Alloys Transformer Market, By Geography
- 11.1 Introduction
- 11.2 North America
- 11.2.1 US
- 11.2.2 Canada
- 11.2.3 Mexico
- 11.3 Europe
- 11.3.1 Germany
- 11.3.2 UK
- 11.3.3 Italy
- 11.3.4 France
- 11.3.5 Spain
- 11.3.6 Rest of Europe
- 11.4 Asia Pacific
- 11.4.1 Japan
- 11.4.2 China
- 11.4.3 India
- 11.4.4 Australia
- 11.4.5 New Zealand
- 11.4.6 South Korea
- 11.4.7 Rest of Asia Pacific
- 11.5 South America
- 11.5.1 Argentina
- 11.5.2 Brazil
- 11.5.3 Chile
- 11.5.4 Rest of South America
- 11.6 Middle East & Africa
- 11.6.1 Saudi Arabia
- 11.6.2 UAE
- 11.6.3 Qatar
- 11.6.4 South Africa
- 11.6.5 Rest of Middle East & Africa
- 12 Key Developments
- 12.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 12.2 Acquisitions & Mergers
- 12.3 New Product Launch
- 12.4 Expansions
- 12.5 Other Key Strategies
- 13 Company Profiling
- 13.1 SUNTEN
- 13.2 ABB
- 13.3 TBEA
- 13.4 STS
- 13.5 Tianwei Group
- 13.6 BRG
- 13.7 Wilson
- 13.8 Powerstar
- 13.9 ProlecGE
- 13.10 CEEG
- 13.11 Vijai Electricals
- 13.12 Yangdong Electric
- 13.13 CREAT
- 13.14 Zhixin Electric
- 13.15 Hitachi
- List of Tables
- Table 1 Global Amorphous Alloys Transformer Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Amorphous Alloys Transformer Market Outlook, By Product Type (2021-2030) ($MN)
- Table 3 Global Amorphous Alloys Transformer Market Outlook, By Vertical (2021-2030) ($MN)
- Table 4 Global Amorphous Alloys Transformer Market Outlook, By Wall-mounted (2021-2030) ($MN)
- Table 5 Global Amorphous Alloys Transformer Market Outlook, By Oil-immersed (2021-2030) ($MN)
- Table 6 Global Amorphous Alloys Transformer Market Outlook, By High Pressure (2021-2030) ($MN)
- Table 7 Global Amorphous Alloys Transformer Market Outlook, By Low Pressure (2021-2030) ($MN)
- Table 8 Global Amorphous Alloys Transformer Market Outlook, By Other Product Types (2021-2030) ($MN)
- Table 9 Global Amorphous Alloys Transformer Market Outlook, By Core Structure (2021-2030) ($MN)
- Table 10 Global Amorphous Alloys Transformer Market Outlook, By Wound Core (2021-2030) ($MN)
- Table 11 Global Amorphous Alloys Transformer Market Outlook, By Laminated Core (2021-2030) ($MN)
- Table 12 Global Amorphous Alloys Transformer Market Outlook, By Voltage Rating (2021-2030) ($MN)
- Table 13 Global Amorphous Alloys Transformer Market Outlook, By Low Voltage (2021-2030) ($MN)
- Table 14 Global Amorphous Alloys Transformer Market Outlook, By Medium Voltage (2021-2030) ($MN)
- Table 15 Global Amorphous Alloys Transformer Market Outlook, By High Voltage (2021-2030) ($MN)
- Table 16 Global Amorphous Alloys Transformer Market Outlook, By Cooling Method (2021-2030) ($MN)
- Table 17 Global Amorphous Alloys Transformer Market Outlook, By Oil Cooled (2021-2030) ($MN)
- Table 18 Global Amorphous Alloys Transformer Market Outlook, By Dry-type (2021-2030) ($MN)
- Table 19 Global Amorphous Alloys Transformer Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 20 Global Amorphous Alloys Transformer Market Outlook, By Direct Sales (2021-2030) ($MN)
- Table 21 Global Amorphous Alloys Transformer Market Outlook, By Distribution (2021-2030) ($MN)
- Table 22 Global Amorphous Alloys Transformer Market Outlook, By Application (2021-2030) ($MN)
- Table 23 Global Amorphous Alloys Transformer Market Outlook, By Power Plant (2021-2030) ($MN)
- Table 24 Global Amorphous Alloys Transformer Market Outlook, By Electronic Equipment (2021-2030) ($MN)
- Table 25 Global Amorphous Alloys Transformer Market Outlook, By Power Construction (2021-2030) ($MN)
- Table 26 Global Amorphous Alloys Transformer Market Outlook, By Industry (2021-2030) ($MN)
- Table 27 Global Amorphous Alloys Transformer Market Outlook, By Residential (2021-2030) ($MN)
- Table 28 Global Amorphous Alloys Transformer Market Outlook, By Glass (2021-2030) ($MN)
- Table 29 Global Amorphous Alloys Transformer Market Outlook, By Semiconductor (2021-2030) ($MN)
- Table 30 Global Amorphous Alloys Transformer Market Outlook, By Renewable Energy (2021-2030) ($MN)
- Table 31 Global Amorphous Alloys Transformer Market Outlook, By Infrastructure & Transportation (2021-2030) ($MN)
- Table 32 Global Amorphous Alloys Transformer Market Outlook, By Other Applications (2021-2030) ($MN)
- Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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