The global high-frequency transformer market size is projected to reach USD 2.3 billion by 2026, at a compound annual growth rate (CAGR) of 6.1%.
The key driving factor
fueling the demand for high-frequency transformers is the growing adoption of
advanced technologies such as IIoT, factory automation, 5G, and cloud computing
in the consumer electronics, automotive, manufacturing, IT &
telecommunications, and military & defense verticals. The rising trend of
miniaturization of electronics and small form factor components in the consumer
electronics and automotive verticals are projected to drive the growth of the
high-frequency transformer industry from 2021 to 2026. However, the increasing
prices of raw materials and their cascading effect on the final prices of
high-frequency transformers are expected to hamper their adoption rate in some
industries or sectors.
DRIVERS: Positive growth
outlook of automotive industry and growth in adoption of electric vehicles
High-frequency
transformers find applications in various systems, such as electric
compressors, DC-DC converters, LED lighting, battery management systems,
inverters, electric vehicle charging systems, and on-board chargers, of
automobiles (both gas and electric) manufactured today. The growing trend of
component miniaturization and the need for high performance and reliability are
the major reasons for the rising adoption of high-frequency transformers in the
automotive industry. Moreover, the positive growth outlook of the global
automotive industry based on trends such as connected vehicles, IoT, autonomous
control, electric and hybrid vehicles, and alternative fuel vehicles is
expected to create immense growth opportunities for the high-frequency transformer
market.
RESTRAINTS: Increasing
prices of raw material used in the manufacturing of high-frequency transformers
The key raw materials
used in the manufacturing of high-frequency transformers include copper, iron,
and ferrite, which feature high electrical conductivity. Copper is used to make
foils and wires of high-frequency transformers, and it forms one of the key
components of the transformer design. Similarly, ferrite forms the
transformer’s core in the overall design. Any fluctuation or increase in the
prices of these materials can result in an increase in the final costs of
high-frequency transformers. As per the data by Trading Economics, in the past
10 years, the price of copper globally has witnessed fluctuations in the range
of USD 2/Lbs to more than USD 4.5/Lbs. In mid-2021, it has reached its highest
level of USD 4.7/Lbs. Thus, the increasing prices of raw materials and their
cascading effect on the final prices of high-frequency transformers are
expected to hamper their adoption rate in some industries or sectors.
OPPORTUNITIES: Rising
Trend of automation and adoption of advanced technologies in industrial sector
With the growing
adoption of various technologies in the industrial sector for advanced control
and automation, the demand for high-frequency transformers is also expected to
rise at a significant pace. High-frequency transformers find applications in
motor drives, inverters, robotics, battery chargers, UPS, and other industrial
equipment. The industrial robotics industry has been growing at an impressive
rate in the past few years, with robots being used for applications such as
machine tending, welding, cutting, grinding, soldering, and assembly.
Automotive and electronics are the two major end-user industries of industrial
robots, such as stand-alone robots, collaborative robots, and mobile robots.
The increasing penetration of automation technologies and robotics into the
industrial sector is expected to create lucrative opportunities for the players
offering high-frequency transformers during the forecast period.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=156462972
CHALLENGES: Trade-off
between small form factor and skin and proximity effects
Technological
advancements in electronic systems and equipment, coupled with the rising trend
of component miniaturization, are fueling the demand for high-frequency
transformers that are small, lightweight, and exhibit high-power density.
However, the development of small size and lightweight high-frequency
transformers also has design challenges. Some of these challenges include
losses from skin effects and proximity effects in high-frequency transformers.
Losses due to skin effects are caused by the property of high-frequency
currents that flow on the conductor’s surface. Proximity effects, also called
eddy current losses, cause an excessive level of resistance within the
transformer’s wire and result in power losses. Besides, they also create heat
dissipation issues. Hence, selecting high-quality raw materials and components
(Litz wires) for minimizing skin and proximity effects is a crucial requirement
for manufacturers nowadays.
About MarketsandMarkets™
MarketsandMarkets™ is a
blue ocean alternative in growth consulting and program management, leveraging
a man-machine offering to drive supernormal growth for progressive
organizations in the B2B space. We have the widest lens on emerging technologies,
making us proficient in co-creating supernormal growth for clients.
The B2B economy is
witnessing the emergence of $25 trillion of new revenue streams that are
substituting existing revenue streams in this decade alone. We work with
clients on growth programs, helping them monetize this $25 trillion opportunity
through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to
Execution, Market Share Gain, Account Enablement, and Thought Leadership
Marketing.
Built on the 'GIVE
Growth' principle, we work with several Forbes Global 2000 B2B companies -
helping them stay relevant in a disruptive ecosystem.Our insights and
strategies are molded by our industry experts, cutting-edge AI-powered Market
Intelligence Cloud, and years of research.The KnowledgeStore™ (our Market
Intelligence Cloud) integrates our research, facilitates an analysis of
interconnections through a set of applications, helping clients look at the
entire ecosystem and understand the revenue shifts happening in their industry.
No comments:
Post a Comment