United Kingdom: Electrical Transformer Market 2024

Electrical Transformer Market Size in the UK

After two years of growth, the UK electrical transformer market decreased by X% to $X in 2022. Over the period under review, consumption, however, recorded significant growth. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Electrical Transformer Production in the UK

In value terms, electrical transformer production soared to $X in 2022 estimated in export price. In general, the total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. Electrical transformer production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Electrical Transformer Exports

Exports from the UK

In 2022, overseas shipments of electrical transformers decreased by X% to X units for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, recorded a slight expansion. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of X units, and then shrank markedly in the following year.

In value terms, electrical transformer exports stood at $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of X%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X units), Hong Kong SAR (X units) and Italy (X units) were the main destinations of electrical transformer exports from the UK, with a combined X% share of total exports. The United States, China, Ireland, Poland, the Netherlands, Singapore, France, Switzerland, Romania and Norway lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Norway (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for electrical transformers exports from the UK, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports. It was followed by Norway, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Norway (X% per year).

Export Prices by Country

In 2022, the average electrical transformer export price amounted to $X per unit, with an increase of X% against the previous year. Overall, the export price, however, recorded a perceptible descent. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Norway ($X per unit), while the average price for exports to Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (X%), while the prices for the other major destinations experienced mixed trend patterns.

Electrical Transformer Imports

Imports into the UK

In 2022, supplies from abroad of electrical transformers decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, showed a noticeable expansion. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports attained the peak of X units, and then contracted significantly in the following year.

In value terms, electrical transformer imports soared to $X in 2022. Over the period under review, total imports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest electrical transformer supplier to the UK, accounting for a X% share of total imports. Moreover, electrical transformer imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), sixfold. Austria (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Austria (X% per year).

In value terms, China ($X), India ($X) and Germany ($X) were the largest electrical transformer suppliers to the UK, with a combined X% share of total imports. Italy, Austria, the United States, Sri Lanka, Thailand, the Netherlands, Hong Kong SAR, Taiwan (Chinese) and Singapore lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Thailand, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average electrical transformer import price stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, the import price, however, continues to indicate a mild descent. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :