Description
Global Ferrite Core Transformer Market Size was worth USD 2.6 Billion in 2023 and it is expected to grow to USD 3.46 Billion in 2030 with a CAGR of 6.30 % in the 2023-2030 period.
Global Ferrite Core Transformer Market: Overview
Ferrites are ceramic materials, formed using manganese and zinc compounds. They act as insulators in transformers and offer high resistance to high currents. Additionally, advantage is that ferrites ensure low eddy current losses over several frequencies and have high permeability so they are ideal for high-frequency transformers and adjustable inductors. Furthermore, the high magnetic permeability and low electrical conductivity of ferrites help to prevent eddy currents in transformers.
Increasing demand for efficient and compact power transformers, growing demand for renewable energy sources, growing demand for high-voltage transformers in the power generation industry, rising demand for high-frequency transformers in consumer electronics, technological advancements and innovation in ferrite core transformers, growing demand for energy-efficient transformers in the residential sector, increasing investment in smart grid infrastructure and distribution systems are some market drivers. While limited availability of high-quality raw materials used in the production of ferrite cores, competition from alternative technologies such as powdered iron core transformers are some market restraints. The globe is differentiated into five key geographical regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The performance of key players is also discussed.
Global Ferrite Core Transformer Market: Key Insights
- As per the analysis done by our research analyst, the Global Ferrite Core Transformer is estimated to grow with a CAGR of xx.xx% over the forecast period (2023-2030).
- In terms of revenue, the Global Ferrite Core Transformer size was valued at USD XX billion in 2022 and is estimated to grow to around USD XX billion in 2030.
- Due to various driving factors, the Ferrite Core Transformer is predicted to grow at a significant rate. Growing use in Power Electronic circuits is a major driver.
- Based on the Type Segmentation, the Manganese-Zinc segment has accounted for a major revenue share.
- Based on the Application Segmentation, Consumer Electronics holds the major share of the market.
- By Regional Analysis, Asia Pacific dominates the market growth.
Global Ferrite Core Transformer Market: COVID-19 Impact
The COVID-19 pandemic has caused disruptions in the global supply chain, leading to a shortage of raw materials and components used in the production of ferrite core transformers. Many transformer manufacturers have had to temporarily shut down their production facilities due to government-mandated lockdowns, which has resulted in a reduction in the supply of ferrite core transformers. The COVID-19 pandemic has resulted in delays in the installation and replacement of transformers, as many contractors and technicians were unable to work due to lockdowns and travel restrictions. Overall COVID-19 pandemic had a negative impact.
Global Ferrite Core Transformer Market: Key Drivers & Restraints
Driving factors:
- Growing uses in Power Electronic Circuits: Ferrite cores are used in all power electronic circuits like switch mode power supply inverters and pure sine wave inverters for high frequency. Some examples of uses for power electronic systems are DC/DC converters used in many mobile devices, such as cell phones or PDAs, and AC/DC converters in computers and televisions. Large-scale power electronics are used to control hundreds of megawatts of power flow across our nation.
- Rising Demand for High-Frequency Transformers in Consumer Electronics: The increasing popularity of electronic devices such as smartphones, laptops, and other portable devices has led to a rise in demand for high-frequency transformers, as these transformers are used in the power supply units of these devices.
- Increasing Investments in Smart Grid Infrastructure & Distribution Systems: Ferrite core transformers are capable of providing stable and clean power, which is important for ensuring the stability and reliability of smart grid infrastructure and distribution systems. Governments around the world are offering incentives and implementing regulations to promote the use of smart grid infrastructure and distribution systems, which has led to an increase in investment in these systems and, in turn, driven the growth of the ferrite core transformer market.
Restraints:
- Ferrite is a Ceramic: The main disadvantage of ferrite is that being ceramic, the core is less robust than other materials, and may be unacceptable in a high-shock military ceramic-like material with magnetic properties that are useful in many types of electronic devices. Ferrites are hard, brittle, iron-containing, and generally grey or black and are polycrystalline.
- Competition from alternative technologies such as powdered iron core transformers: Powdered iron core transformers are cheaper compared to ferrite core transformers, which makes them a more cost-effective option for some applications. Powdered iron core transformers have a high magnetic permeability, which makes them suitable for use in applications that require high inductance.
Global Ferrite Core Transformer Market: Opportunities
- Growing 5G Communication system:
Integration of ferromagnetic and high-ε materials has thus become essential for frequencies of 10-30 GHz—some of the key frequency bands for 5G applications. Growing need of 5G communications systems underlines many opportunities in the field of Ferrite Core Transformer Market.
Global Ferrite Core Transformer Market: Segmentation
- Based on Type: The market is segmented into Manganese-Zinc, Nickel-Zinc, Magnesium-Zinc, and Others. Among these sub-segments, the Manganese-Zinc segment holds the highest share of the market in terms of revenue contribution.
- By Application Analysis: The market is segmented into Consumer Electronics, Communication, Household Appliances, Automotive, and Others. Among these, the Consumer Electronics segment accounts a major revenue share.
Global Ferrite Core Transformer Market: Regional Insights
The world is differentiated into five key geographical regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific region accounts for the highest share in terms of revenue contribution owing to the high demand for energy and rising infrastructure development in the region. Followed by APAC, Europe is also a significant contributor to the market, driven by the growing demand for smart grid infrastructure and renewable energy sources. North America is the third major region contributing significant growth to the market owing to the Presence of Major players and demand for efficient high-energy transformers. Latin America, the Middle East & Africa will register moderate growth.
Global Ferrite Core Transformer Market: Competitive Analysis
The Global Ferrite Core Transformer Market is driven by MURATA, TDK, TAIYO YUDEN CO., LTD., CHILISIN, SUNLORD ELECTRONICS CO., LTD, SUMIDA CORPORATION, VISHAY INTERTECHNOLOGY, INC., SAMSUNG ELECTRO-MECHANICS, AVX CORPORATION, COILCRAFT, INC.
Global Ferrite Core Transformer Market: Recent Developments
- November 2022: Murata has introduced a new series of compact DC-DC converters that are aligned with the increasing prevalence of wide bandgap technology. The new MGN1 series of 1W output DC-DC converters are designed to deliver the voltages needed by the gate drivers of GaN devices. (Source: Murata Product News)
- January 2023: TDK Corporation (TSE:6762) today announced the TDK i3 Micro Module, the world’s first module with built-in edge AI and wireless mesh connectivity capability. Through TDK’s collaboration with Texas Instruments (TI), the i3 Micro Module integrates the TI SimpleLink™ platform, featuring the CC2652R7, an Arm® Cortex®-M4F multiprotocol 2.4-GHz wireless 32-bit microcontroller (MCU) for real-time monitoring. The new module additionally integrates TDK’s IIM-42352 high-performance SmartIndustrialTM MEMS accelerometer and digital output temperature sensor, edge AI, and mesh network functionality into a single unit, facilitating data aggregation, integration, and processing. (Source: TDK News)
- December 2022: TAIYO YUDEN CO., LTD. has for the first time been named among CDP’s “Climate Change A List” companies, receiving the highest rating as a company excellent in climate change-related measures, strategies and information disclosure from the international environmental NPO.
