Asia: Market for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under 1 kVA 2025

Market Size for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under 1 kVA in Asia

For the fourth consecutive year, the Asian market for electrical transformers with liquid dielectric, of power handling capacity under X kVA recorded decline in sales value, which decreased by -11.8% to $X in 2022. In general, consumption, however, saw a pronounced descent. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under X kVA in Asia

In value terms, production of electrical transformers with liquid dielectric, of power handling capacity under X kVA dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2021 when the production volume increased by 15%. As a result, production attained the peak level of $X, and then dropped in the following year.

Exports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under 1 kVA

Exports in Asia

For the fourth consecutive year, Asia recorded growth in shipments abroad of electrical transformers with liquid dielectric, of power handling capacity under X kVA, which increased by 28% to X units in 2022. Overall, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 1,029%. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, exports of electrical transformers with liquid dielectric, of power handling capacity under X kVA expanded to $X in 2022. The total export value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 15%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

China represented the major exporter of electrical transformers with liquid dielectric, of power handling capacity under X kVA in Asia, with the volume of exports reaching X units, which was near 44% of total exports in 2022. Hong Kong SAR (X units) took a 17% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (9.2%), Singapore (5.1%) and Malaysia (4.8%). The following exporters - South Korea (X units) and Vietnam (X units) - each recorded an 8.6% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to electrical transformers with liquid dielectric, of power handling capacity under X kVA exports from China stood at +50.2%. At the same time, Vietnam (+65.4%), Hong Kong SAR (+40.4%), Singapore (+37.6%), Thailand (+24.6%), Malaysia (+14.5%) and South Korea (+14.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +65.4% from 2012-2022. From 2012 to 2022, the share of China, Hong Kong SAR, Vietnam and Singapore increased by +32, +7.8, +3.8 and +1.7 percentage points, respectively.

In value terms, China ($X) remains the largest electrical transformers with liquid dielectric, of power handling capacity under X kVA supplier in Asia, comprising 59% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 21% share of total exports. It was followed by Vietnam, with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +3.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (-1.4% per year) and Vietnam (+6.6% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, shrinking by -20.5% against the previous year. Over the period under review, the export price showed a sharp decline. The pace of growth appeared the most rapid in 2016 when the export price increased by 36%. As a result, the export price attained the peak level of $X per unit. From 2017 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 China ($X per unit), while Thailand ($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 (-16.4%), while the other leaders experienced a decline in the export price figures.

Imports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under 1 kVA

Imports in Asia

In 2022, supplies from abroad of electrical transformers with liquid dielectric, of power handling capacity under X kVA increased by 8.7% to X units, rising for the fifth consecutive year after two years of decline. Overall, imports recorded a resilient increase. The pace of growth appeared the most rapid in 2021 with an increase of 389% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, imports of electrical transformers with liquid dielectric, of power handling capacity under X kVA fell slightly to $X in 2022. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 16%. As a result, imports attained the peak of $X, and then declined slightly in the following year.

Imports by Country

In 2022, Hong Kong SAR (X units), China (X units), Singapore (X units), Japan (X units) and Malaysia (X units) represented the largest importer of electrical transformers with liquid dielectric, of power handling capacity under X kVA in Asia, creating 76% of total import. India (X units) took a 5.8% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (4.8%) and Vietnam (4.6%).

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +52.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest electrical transformers with liquid dielectric, of power handling capacity under X kVA importing markets in Asia were Hong Kong SAR ($X), China ($X) and Japan ($X), with a combined 51% share of total imports. Thailand, India, Singapore, Vietnam and Malaysia lagged somewhat behind, together accounting for a further 26%.

Among the main importing countries, Thailand, with a CAGR of +10.9%, saw 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 -10.4% against the previous year. In general, the import price showed a abrupt setback. The pace of growth appeared the most rapid in 2017 an increase of 47% against the previous year. As a result, import price attained the peak level of $X per unit. From 2018 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: 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 (+0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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