NEW YORK, January 6, 2022 / PRNewswire / – The amorphous iron market is expected to grow at a CAGR of 6.4% from 2022 to 2032, from $ 10,673 million in 2022 to $ 19,570 million in 2032.
Growing demand for energy efficient electrical appliances is expected to drive the production of amorphous iron over the next decade, especially in high growth countries like China and India. Because the cost of energy in Asia is higher than in most industrialized countries, consumption should be concentrated in the regions studied. This requires cost effective measures with a faster return on investment.
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Additionally, increased consumption of amorphous iron in motor applications is expected to increase at a higher single digit CAGR throughout the projection period.
In addition, increased research and development in the manufacture of energy efficient electrical components, along with the need for more efficient power distribution systems, would increase the use of amorphous iron by 1.5 times. here 2032.
The goal of adopting electric vehicles is to reduce the negative environmental impact while saving energy. Since electric vehicles (EVs) rely on batteries to convert electrical energy into mechanical energy, electromagnetic induction is an essential technique for efficient vehicle operation.
There are also a variety of electrical components that can be made with amorphous iron to help save energy when operating a battery powered vehicle.
Key points to remember:
- Amorphous iron production is expected to reach 219 kilotonnes by the end of 2032.
- India should represent a fair share of the global amorphous iron market.
- Consumption of amorphous iron in the manufacture of transformers to dominate the market.
- Second place is the use of amorphous iron in engine manufacturing.
- Rapid demand for energy efficient electrical devices to boost the production of amorphous iron.
- Adoption of electric vehicle in the automotive industry to propel sales of amorphous iron.
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In a recently published analysis, Fact.MR provides detailed price information for leading manufacturers of amorphous iron positioned in all regions, as well as information on sales growth, production capacity and speculative production expansion. .
In march 2020, Hitachi Metals announced that it has successfully developed MaDC-A, an amorphous Fe-based alloy with magnetic domain control technology. This newly created material has a high flux density and reduces core loss by at least 25%.
The major players in the amorphous iron market include:
- Hitachi Metals
- Advanced Technology & Materials Co. Ltd
More Valuable Information About Amorphous Iron Market (Amorphous Fe)
Fact.MR provides an unbiased analysis of the Amorphous Iron (Amorphous Fe) market, presenting historical demand data (2017-2021) and forecast statistics for the period 2022-2032. The study reveals compelling information about the global Amorphous Iron (Amorphous Fe) market with detailed segmentation on the basis of:
- By end use
- Transmission transformers
- Portable transformers
- Distribution transformers
- 100 hp
- 101 hp
- 200 hp
- 201 hp
- 500 hp
- 501 HP
- 1000 hp
- By region
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
Key Questions Answered in the Amorphous Iron (Amorphous Fe) Market Report
- The report provides an overview of the demand outlook for the amorphous iron market for 2022-2032.
- The market research also highlights the expected sales growth for the Amorphous Iron market between 2022 and 2032.
- The Amorphous Iron market research identifies key growth drivers, restraints, and other forces impacting dominant trends and evaluating the current market size and forecast and technological advancements within industry.
- Analysis of the amorphous iron market share of key companies in the sector and coverage of strategies such as mergers and acquisitions, joint ventures, collaborations or partnerships, etc.
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