Toroidal Power Transformer Market Size, Share & Industry Analysis, By Power Capacity (Upto 1 KVA, 1-5 KVA, and Above 5 KVA), By Application (Audio and Communication Systems, Medical Equipment, Industrial, Renewable Energy, and Others), and Regional Forecast, 2024-2032

The global toroidal power transformer market size was valued at USD 593.54 million in 2023. It is projected to grow from USD 636.60 million in 2024 to USD 1,095.44 million by 2032, exhibiting a CAGR of 7.02% during the forecast period.

A toroidal power transformer is a type of electrical transformer that uses a toroidal (doughnut-shaped) core made of ferromagnetic material, such as iron or ferrite. The primary and secondary windings are wound around this core, providing the electromagnetic induction necessary to transform electrical circuit voltage levels.

Toroidal power transformers are known for their high efficiency, typically ranging from 90% to 98%, which is higher than traditional transformers. This efficiency makes them attractive to industries and consumers seeking to reduce energy consumption and costs, and this factor also increases the market share. These transformers are more compact and lighter than conventional transformers, making them suitable for applications with limited space or weight. This advantage has led to their widespread adoption in various electronic devices and industrial equipment.

Lockdown measures and travel restrictions implemented to control the spread of the COVID-19 virus led to a halt in industrial activities. This resulted in a decline in demand for industrial applications.         

Toroidal Power Transformer Market Trends

Rising Demand for Renewable Energy and Modernization and Expansion of Power Transformer Manufacturing Facility to Drive Market Growth

Renewable energy sources such as solar and wind power generate DC electricity, which needs to be converted into AC electricity for use in homes and industries. Toroidal transformers are commonly used in the inverters that perform this conversion. As the adoption of solar panels and wind turbines increases, so does the demand for toroidal transformers to support these renewable energy systems. Moreover, renewable energy systems often operate in remote locations or off-grid setups where efficiency is crucial for maximizing power generation and minimizing energy losses. Toroidal transformers are well-suited for these applications with their high efficiency and low no-load losses. They help optimize the performance of renewable energy systems by minimizing energy wastage during power conversion.

These transformers produce lower levels of Electromagnetic Interference (EMI) than other transformer types. This is particularly important in renewable energy systems where sensitive electronic components, such as inverters and power electronics products, are used. By minimizing EMI, toroidal transformers help ensure the reliable operation of these systems and reduce the risk of interference with other electronic devices or communication systems.

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Toroidal Power Transformer Market Growth Factors

Increasing Application of Toroidal Power Transformers in the Audio and Communication Systems to Boost Market Growth

Toroidal transformers are well-suited for audio equipment due to their low Electromagnetic Interference (EMI) and noise characteristics. In audio systems, such as amplifiers, preamplifiers, and audio mixers, these transformers help ensure clean power delivery without introducing unwanted noise or distortion. Their superior performance in maintaining signal integrity and fidelity improves audio quality, making them highly sought-after components in high-end audio equipment.

Audio and communication systems often require compact and lightweight components to fit within limited space constraints, especially in portable devices and rack-mounted equipment. Toroidal transformers' compact cylindrical design allows for efficient use of space and easier integration into small form factor devices. Their smaller footprint than conventional transformers makes them ideal for audio and communication equipment where space optimization is critical.

In July 2023, Rotel, one of the well-known Japanese audio equipment manufacturers, launched three new models of its 14 Series products line named Rotel A11MKII Integrated Amplifier, Rotel CD11MKII CD Player, and the Rotel A10MKII Integrated Amplifier. An in-house manufactured toroidal transformer with filtering storage capacitors drives the amplifier's power.

Rising Preference for Toroidal Power Transformers Due to its Beneficial Characteristics Impel Market Growth

Toroidal transformers are favored as long-term solutions for several reasons: low noise and low stray field, ease of mounting, low operating temperatures, lightweight, fewer core losses, and others. The field produced by magnetization is also referred to as a stray field. It is lower in a toroidal transformer because of the uniform core windings. Less magnetic interference in toroids leads to higher efficiency.

Furthermore, by utilizing just one screw, toroidal transformers can be easily placed in a short time. This convenience helps reduce downtime and maintenance.  These factors contribute to its usage in various applications, such as audio and communication systems, medical equipment, and others.

RESTRAINING FACTORS

High Initial Cost of Toroidal Power Transformers May Restrain Market Growth

Many industries, particularly those with tight budget constraints, prioritize cost-effectiveness when selecting power transformers for their applications. The higher initial cost of toroidal transformers than traditional transformer designs may deter some customers from adopting them, especially in price-sensitive industries, such as consumer electronics, appliances, and lighting. In intense market competition, manufacturers may face pressure to reduce costs and offer competitive pricing to attract customers. However, the specialized manufacturing process and high-quality materials used in toroidal transformers can make it challenging to achieve significant cost reductions without sacrificing product quality. As a result, manufacturers may struggle to compete on price, limiting the toroidal power transformer market growth.

In general, the price of a transformer is determined by its core and copper, and all other materials make up only 10-15% of the cost. The cost of copper is usually set by the London Metal Exchange (LME), but the base price can vary widely depending on the choice of material. Customers may perceive the higher initial cost of toroidal transformers as a barrier to adoption if they do not fully appreciate the value proposition these transformers offer. Manufacturers must effectively communicate the benefits of toroidal transformers, such as improved efficiency, reliability, and performance, to justify the higher price point.

Toroidal Power Transformer Market Segmentation Analysis

By Power Capacity Analysis

Up to 1KVA Segment Leads Market with Surge in Small Electronic Devices and Smart Technology

Based on power capacity, the global market for toroidal power transformer is segmented into upto 1 KVA, 1-5 KVA, and above 5 KVA. Up to 1KVA is the dominant segment in the market. This is due to the rise of small electronic devices, Internet of Things devices, smart home appliances, audio equipment, and others. With the increasing usage of portable devices and smart technology, the demand for low-power toroidal transformers is projected to grow considerably.

The 1-5 KVA toroidal power transformer is the fastest growing and one of the major segments, propelled by different applications such as power supplies for industrial equipment, medical devices, and others. As industries focus more on dependability and energy efficiency, the demand for 1-5 KVA power transformers is expected to grow.

By Application Analysis

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Rapid Technological Advancements and High Demand for Energy-Efficient Equipment Drive Growth of Audio and Communication Systems

By application, the global market is segmented into audio and communication systems, medical equipment, industrial (control panel and lightning), renewable energy, and others. The audio and communication systems is the dominating segment in the toroidal power transformer market. The audio and communication industries are experiencing rapid technological advancements and increasing demand for high-performance, compact, and energy-efficient equipment. Toroidal transformers align well with these industry trends, offering solutions that meet the evolving needs of manufacturers and end-users.

Industrial is the fastest-growing segment in the market due to numerous industrial applications of toroidal power transformers, such as motor controls, instrumentation, industrial control equipment, low-voltage lighting, and others.

Medical equipment requires highly reliable power sources to ensure accurate and consistent operation. Toroidal transformers offer superior reliability and stability compared to traditional transformer designs. Their robust construction and low-noise operation make them well-suited for critical medical devices where precision and consistency are paramount.

REGIONAL INSIGHTS

The global toroidal power transformer market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Asia Pacific is estimated to have the dominant market share during the forecast period. China and India are witnessing rapid industrialization across various manufacturing, automotive, electronics, and telecommunications sectors. This industrial growth drives the demand for products used in machinery, equipment, control systems, and power distribution networks, contributing to market expansion.

North America holds a significant toroidal power transformer market share. The U.S. is a hub for technological innovation and research in various industries, including electronics, telecommunications, industrial automation, and others. In addition, it is one of the major countries in the medical equipment sector, which makes it one of the lucrative markets for the product.

Europe is witnessing considerable growth in renewable energy. This is resulting in considerable opportunities for the toroidal transformer market. According to the International Energy Association (IEA), Germany, the U.K., and France are some of the major countries in the renewable energy sector.

List of Key Companies in Toroidal Power Transformer Market

Strong Geographical Presence and Established In House Designing and Production Capabilities Helps Talema to Dominate the Market

Talema has a wide geographic presence in the Czech Republic, India, Germany, the U.S., and others. It has expertise in designing, manufacturing, and supplying millions of transformers to its customers, as well as a broad range of LAN magnetics and telecom offerings. All facilities have rigorous quality assurance and quality control procedures to manufacture in accordance with ISO-9001.

For 40 years, it has been supplying Original Equipment Manufacturer (OEM) players globally and has successfully gotten the electrical/electronic authorities' approval in each national market. Talema’s widespread geographical presence allows it to cater to a broad customer base across different regions. This global reach helps capture diverse markets and respond to regional demands effectively.

List of Key Companies Profiled:

• Miracle Electronic Devices Pvt Ltd. (India)


• Noratel AS (Norway)


• Amgis Toroids (U.S.)


• Hammond Manufacturing Co. Ltd (Canada)


• Eaglerise (China)


• Triad Magnetics (U.S.)


• Toroid Corporation (U.S.)


• Agile Magnetics (U.S.)


• Pacific Transformer (U.S.)


• Talema (U.S.)


• Bel Fuse (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• August 2023: Bryston has announced the release of a brand new preamp called the BP-19. The company calls it a high-performance analog preamplifier and claims to have used years of R&D and design innovation to develop its BR-20 preamplifier. The model has won several awards, delivers superior performance, and is affordable. Key elements include an oversized toroidal power transformer, hand-matched high-quality components, a high-efficiency Operational Amplifier (O-amp), a balanced design, and their best-in-class compact circuit architecture for low noise and excellent common-mode rejection.


• April 2023: Renowned for its high-performance audio products, Michi announced three new models - the X3 Series Integrated Amplifier, the X5 Series 2 Integrated Amplifier, and the P5 Series 2 Stereo Amplifier with the new ESS SABER 8-Channel High Precision DACs. Michi X5 Series 2 Integrated amplifier pumped out 600W of Class AB output power into four ohms, powered by two ultra-quiet toroidal transformers. It also has over 95 component changes, and the music is precisely delivered.


• January 2023: Salzer Electronics started a new manufacturing facility in Hosur, Tamil Nadu, with an initial investment of USD 181 billion to increase production capacity for high-demand products such as harnesses and toroidal transformers. The company initially raised about USD 181 billion through internal rounds. The project is spread over eight hectares of land and has an area of ​​about 30,000 square feet. The company will use 15,000 square meters in the first phase and the balance in the second phase.


• June 2021: Toshiba Energy Systems and Solutions Corporation ("Toshiba ESS") announced that it has completed the first production of toroidal field coils for ITER. The National Institutes of Quantum and Radiological Science and Technology ("QST") believe that this type of toroidal field coil is one of the largest in the world (height 16.5 m, width 9 m, total weight approx. 300 tons).


• January 2021: Bel Fuse designed toroidal transformers, and the engineers working with high-current toroidal chokes have a handy new Signal Transformer design tool. It contains 15 of the company's most popular HCTC part numbers in one compact package, giving engineers a lot of flexibility and many options during the design process. The HCTC series design kit includes a wide range of inductances and currents with part numbers from 1 mH, 4.8 A to 50 mH, 2.3 A, and 14 different DC ratings.

REPORT COVERAGE

The report provides a detailed analysis of the market and focuses on key aspects such as leading companies, products, and product technology. Besides this, it offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that have contributed to the growth of the market in recent years.

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