Transformer core market to hit $13.32 B by 2030
The transformer core market is projected to rise from $9.98 B in 2025 to $13.32 B by 2030, at a CAGR of 5.94 % during the forecast period.
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According to Mordor Intelligence, the transformer core market size is estimated at $9.98 B in 2025 and is expected to reach $13.32 B by 2030, growing at a CAGR of 5.94 % during the forecast period.
The transformer core market is witnessing steady expansion as global energy systems continue to shift toward electrification and cleaner power sources.
Global renewable expansion and grid modernisation are driving innovation in transformer cores. Rising solar, wind, and EV charging demand cores with lower losses, higher permeability, and smart monitoring capabilities. Nanocrystalline and amorphous alloys, along with advanced insulation, are increasingly adopted to improve efficiency, reduce thermal stress, and extend transformer life, boosting the growth of the transformer core market worldwide.
In 2024, Asia-Pacific accounted for 42.8 % of global transformer core revenue and is projected to grow at a 6.7 % CAGR, driven by China and India’s renewable and grid investments. North America, the second-largest market, may accelerate from a 4.2 % to 5.8 % CAGR through 2030. Europe faces retrofits amid material shortages, while South America and MEA see mid-single-digit growth.
The key players in the market include Hitachi Energy, Siemens Energy AG, ABB Ltd., Mitsubishi Electric Corp., Schneider Electric SE, Mitsubishi Electric Corporation, Toshiba Energy Systems & Solutions, Eaton Corporation, and Schneider Electric SE, among others.
Source: Mordor Intelligence
