Application of Amorphous Iron in Transformers Manufacturing to Hold Largest Share
NEW YORK, Jan. 6, 2022 /PRNewswire/ -- The amorphous iron market is expected to increase at a CAGR of 6.4 percent from 2022 to 2032, from USD 10,673 million in 2022 to USD 19,570 million in 2032.
Growing demand for energy efficient electrical appliances is expected to boost amorphous iron production during the next decade, particularly in high-growth nations like China and India. Because the cost of energy in Asia is higher than in most industrialized countries, consumption is expected to be concentrated in the discussed regions. This necessitates cost-effective measures with a quicker payback.
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Furthermore, increased amorphous iron consumption in motor applications is expected to expand at a higher single-digit CAGR throughout the projection period.
Furthermore, rising research and development into the manufacturing of energy efficient electrical components, as well as need for more efficient power distribution systems, would increase amorphous iron usage 1.5 times by 2032.
The goal of adopting electric vehicles is to reduce negative environmental impact while also saving energy. Because electric vehicles (EVs) rely on batteries to convert electrical energy into mechanical energy, electromagnetic induction is a critical technique for effective vehicle operation.
There are also a variety of electrical components that can be made with amorphous iron to help save energy when driving a battery-powered vehicle.
Key Takeaways:
Growth Drivers:
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Competitive Landscape
In a recently published analysis, Fact.MR provides thorough information about price points of leading amorphous iron manufacturers positioned throughout regions, as well as sales growth information, production capacity, and speculative production expansion.
In March 2020, Hitachi Metals announced that it had successfully developed MaDC-A, a Fe-based amorphous alloy with magnetic domain control technology. This newly created material has a high flux density and reduces core loss by at least 25%.
Key Players in the Amorphous Iron Market Include:
More Valuable Insights on Amorphous Iron (Fe Amorphous) Market
Fact.MR provides an unbiased analysis of the amorphous iron (Fe Amorphous) market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global amorphous iron (Fe Amorphous) market with a detailed segmentation on the basis of:
Key Questions Covered in Amorphous Iron (Fe Amorphous) Market Report
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