ASEAN: Market for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from 650 kVA to 10000 kVA 2025

Market Size for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from 650 kVA to 10000 kVA in ASEAN

After two years of growth, the ASEAN market for electrical transformers with liquid dielectric, of power handling capacity from X kVA to X kVA decreased by -22.3% to $X in 2022. In general, consumption, however, showed a temperate expansion. As a result, consumption reached the peak level of $X, and then dropped notably in the following year.

Production of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from X kVA to X kVA in ASEAN

In value terms, production of electrical transformers with liquid dielectric, of power handling capacity from X kVA to X kVA surged to $X in 2022 estimated in export price. Overall, production, however, recorded a drastic downturn. Over the period under review, production of attained the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from 650 kVA to 10000 kVA

Exports in ASEAN

In 2022, exports of electrical transformers with liquid dielectric, of power handling capacity from X kVA to X kVA in ASEAN soared to X units, picking up by 552% on the year before. Overall, exports showed significant growth. The pace of growth was the most pronounced in 2020 with an increase of 740% against the previous year. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of electrical transformers with liquid dielectric, of power handling capacity from X kVA to X kVA soared to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 28%. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Thailand represented the key exporter of electrical transformers with liquid dielectric, of power handling capacity from X kVA to X kVA in ASEAN, with the volume of exports recording X units, which was near 58% of total exports in 2022. Vietnam (X units) took the second position in the ranking, followed by Indonesia (X units). All these countries together took approx. 37% share of total exports. Malaysia (X units) held a relatively small share of total exports.

Thailand was also the fastest-growing in terms of the electrical transformers with liquid dielectric, of power handling capacity from X kVA to X kVA exports, with a CAGR of +45.4% from 2012 to 2022. At the same time, Vietnam (+32.7%), Indonesia (+22.9%) and Malaysia (+9.9%) displayed positive paces of growth. While the share of Thailand (+42 p.p.) and Vietnam (+5.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Indonesia (-8.7 p.p.) and Malaysia (-12 p.p.) displayed negative dynamics.

In value terms, Thailand ($X), Vietnam ($X) and Indonesia ($X) constituted the countries with the highest levels of exports in 2022, with a combined 82% share of total exports.

Vietnam, with a CAGR of +2.5%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, with a decrease of -80.9% against the previous year. Overall, the export price continues to indicate a dramatic curtailment. The most prominent rate of growth was recorded in 2021 when the export price increased by 371%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (-7.2%), while the other leaders experienced a decline in the export price figures.

Imports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from 650 kVA to 10000 kVA

Imports in ASEAN

In 2022, after four years of growth, there was decline in purchases abroad of electrical transformers with liquid dielectric, of power handling capacity from X kVA to X kVA, when their volume decreased by -2% to X units. Over the period under review, imports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 1,018%. The volume of import peaked at X units in 2021, and then contracted slightly in the following year.

In value terms, imports of electrical transformers with liquid dielectric, of power handling capacity from X kVA to X kVA skyrocketed to $X in 2022. Overall, imports continue to indicate a mild descent. The most prominent rate of growth was recorded in 2020 when imports increased by 60% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2022, Thailand (X units) represented the largest importer of electrical transformers with liquid dielectric, of power handling capacity from X kVA to X kVA, achieving 70% of total imports. Vietnam (X units) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (6.3%) and Malaysia (5.7%).

Thailand was also the fastest-growing in terms of the electrical transformers with liquid dielectric, of power handling capacity from X kVA to X kVA imports, with a CAGR of +70.8% from 2012 to 2022. At the same time, Vietnam (+57.6%), Indonesia (+26.4%) and Malaysia (+17.7%) displayed positive paces of growth. From 2012 to 2022, the share of Thailand and Vietnam increased by +64 and +12 percentage points, respectively.

In value terms, Vietnam ($X) constitutes the largest market for imported electrical transformers with liquid dielectric, of power handling capacity from X kVA to X kVA in ASEAN, comprising 29% of total imports. The second position in the ranking was held by Malaysia ($X), with a 12% share of total imports. It was followed by Thailand, with a 4.8% share.

In Vietnam, imports of electrical transformers with liquid dielectric, of power handling capacity from X kVA to X kVA increased at an average annual rate of +18.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (-3.2% per year) and Thailand (-8.2% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per unit, picking up by 47% against the previous year. In general, the import price, however, continues to indicate a sharp decrease. Over the period under review, import prices reached the maximum at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (-17.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform