Asia-Pacific: Electrical Transformer Market 2024

Electrical Transformer Market Size in Asia-Pacific

In 2022, the Asia-Pacific electrical transformer market increased by X% to $X.2B, rising for the eighth consecutive year after two years of decline. In general, consumption continues to indicate strong growth. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Electrical Transformer Production in Asia-Pacific

In value terms, electrical transformer production surged to $X.5B in 2022 estimated in export price. Overall, production recorded a tangible expansion. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, production reached the peak level of $X.3B. From 2021 to 2022, production growth failed to regain momentum.

Electrical Transformer Exports

Exports in Asia-Pacific

In 2022, the amount of electrical transformers exported in Asia-Pacific surged to X units, growing by X% against 2021 figures. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, electrical transformer exports rose remarkably to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the key exporting country with an export of about X units, which recorded X% of total exports. Hong Kong SAR (X units) held the second position in the ranking, distantly followed by Thailand (X units), Singapore (X units) and Malaysia (X units). All these countries together held approx. X% share of total exports. The following exporters - South Korea (X units) and Vietnam (X units) - each resulted at an X% share of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2022. 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-Pacific, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of China, Hong Kong SAR and Vietnam increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, electrical transformer exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Hong Kong SAR (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, declining by X% against the previous year. Overall, the export price recorded a sharp descent. The growth pace was the most rapid in 2016 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the export prices remained at a lower figure.

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-Pacific

In 2022, overseas purchases of electrical transformers increased by X% to X units, rising for the fifth year in a row after two years of decline. In general, imports showed a remarkable increase. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, electrical transformer imports amounted to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2018 when imports increased by X%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

In 2022, Hong Kong SAR (X units), China (X units), Singapore (X units), Japan (X units) and Malaysia (X units) was the largest importer of electrical transformers in Asia-Pacific, mixing up X% of total import. Thailand (X units) took the next position in the ranking, followed by India (X units) and Vietnam (X units). All these countries together took approx. 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-Pacific 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 accounting for a further X%.

In terms of the main importing countries, Thailand, with a CAGR of X%, saw the highest growth rate of 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

In 2022, the import price in Asia-Pacific amounted to $X per unit, waning by X% against the previous year. In general, the import price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2017 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the import prices failed to regain momentum.

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 (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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