Asia: Electrical Transformer Market 2024

Electrical Transformer Market Size in Asia

In 2022, the Asian electrical transformer market increased by X% to $X.6B, rising for the eighth consecutive year after two years of decline. In general, consumption enjoyed a resilient expansion. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the immediate term.

Electrical Transformer Production in Asia

In value terms, electrical transformer production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production enjoyed a temperate increase. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, production reached the peak level of $X.6B. From 2021 to 2022, production growth remained at a somewhat lower figure.

Electrical Transformer Exports

Exports in Asia

For the fourth consecutive year, Asia recorded growth in overseas shipments of electrical transformers, which increased by X% to X units in 2022. Overall, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, electrical transformer exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the largest exporter of electrical transformers in Asia, with the volume of exports finishing at X units, which was approx. X% of total exports in 2022. Hong Kong SAR (X units) ranks second in terms of the total exports with a X% share, followed by Thailand (X%), Singapore (X%) and Malaysia (X%). The following exporters - South Korea (X units) and Vietnam (X units) - each resulted at an X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to electrical transformer exports from China stood at X%. At the same time, Vietnam (X%), Hong Kong SAR (X%), Singapore (X%), Thailand (X%), Malaysia (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. While the share of China (X p.p.), Hong Kong SAR (X p.p.) and Vietnam (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (X p.p.), South Korea (X p.p.) and Malaysia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest electrical transformer supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and South Korea (X% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, which is down by X% against the previous year. In general, the export price saw a significant decrease. The growth pace was the most rapid in 2016 when the export price increased by X%. As a result, the export price attained the peak level of $X per unit. From 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while Singapore ($X per unit) was amongst the lowest.

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

Electrical Transformer Imports

Imports in Asia

In 2022, purchases abroad of electrical transformers increased by X% to X units, rising for the fifth consecutive year after two years of decline. Over the period under review, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, electrical transformer imports rose sharply to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Hong Kong SAR (X units), China (X units), Singapore (X units), Japan (X units) and Malaysia (X units) represented roughly X% of total imports in 2022. It was distantly followed by Thailand (X units), India (X units) and Vietnam (X units), together making up a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest electrical transformer importing markets in Asia were China ($X), Hong Kong SAR ($X) and Japan ($X), together accounting for X% of total imports. Thailand, India, Vietnam, Malaysia and Singapore lagged somewhat behind, together comprising a further X%.

Among the main importing countries, 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 import price in Asia stood at $X per unit in 2022, waning by X% against the previous year. Over the period under review, the import price saw a deep slump. The most prominent rate of growth was recorded in 2017 when the import price increased by X%. As a result, import price attained the peak level of $X per unit. From 2018 to 2022, the import prices remained at a somewhat lower figure.

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 Thailand ($X per unit), while Singapore ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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