Growing Focus on Renewable Energy to Take Global High Frequency Transformer Market Beyond $ 2 Billion by 2023
Technological advancements, growing R&D investments and increasing focus on solar and wind energy applications to drive global high frequency transformer market through 2023
According to TechSci Research report, “Global High Frequency Transformer Market By Power Output, By Application, By Region, Competition Forecast & Opportunities, 2013 - 2023’’, the global high frequency transformer market is forecast to reach $ 2.2 billion by 2023. Asia-Pacific is the largest demand generating region for high frequency transformers across the globe, owing to rapidly increasing number of solar and wind energy installation projects across the region. Some of the major companies operating in the global high frequency transformer market include Furukawa Electric Co. Ltd., TDK-Lambda, SUMIDA CORPORATION, and Tabuchi Electric Co. Ltd., among others.
Browse 184 market data Figures and Tables spread through 201 Pages and an in-depth TOC on "Global High Frequency Transformer Market"
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Power conditioning for solar & wind, electrical & electronics, energy storage solution, automotive and medical equipment are the major application segments for high frequency transformers. Of these categories, power conditioning for solar & wind accounted for the largest market share in 2017, and the segment is expected to maintain its dominance during the forecast period, backed by increasing focus of governments across the globe towards boosting the share of renewable energy in the primary energy mix by introducing various policies and incentivizing the production as well as use of renewable energy. Rising application of high frequency transformers in various grid and nano-grid applications across the world would also boost demand for high frequency transformers in the coming years, globally.
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“Growing investments in research & development activities by high frequency transformer manufacturers to introduce new technically advanced products with improved efficiency and safety, in addition to expanding renewable energy and energy storage solution markets are expected to be the key factors driving the global high frequency transformer market over the course of next five years. Moreover, increasing use of Litz Wire windings in high frequency transformers to minimize the losses in magnetic components would positively influence the global high frequency transformer market in the ensuing years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global High Frequency Transformer Market By Power Output, By Application, By Region, Competition Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of the high frequency transformer market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the global high frequency transformer market.
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