Belgium: Market for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over 500 kVA 2024

Market Size for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over 500 kVA in Belgium

The Belgian market for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA surged to $X in 2022, picking up by 156% against the previous year. Over the period under review, consumption saw a significant increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Production of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over X kVA in Belgium

In value terms, production of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA soared to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a mild slump. Over the period under review, production of hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over 500 kVA

Exports from Belgium

In 2022, after two years of growth, there was significant decline in overseas shipments of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA, when their volume decreased by -65.5% to X units. Over the period under review, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 18,878% against the previous year. Over the period under review, the exports of attained the peak figure at X units in 2021, and then fell significantly in the following year.

In value terms, exports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA dropped notably to $X in 2022. In general, exports recorded a abrupt decrease. The growth pace was the most rapid in 2020 with an increase of 53%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

France (X units), Mexico (X units) and Germany (X units) were the main destinations of exports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA from Belgium, with a combined 55% share of total exports. Cameroon, Israel, Spain, Bangladesh, Luxembourg, Canada, the United States and Nigeria lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +266.8%), while the other leaders experienced more modest paces of growth.

In value terms, Luxembourg ($X) emerged as the key foreign market for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA exports from Belgium, comprising 30% of total exports. The second position in the ranking was taken by France ($X), with a 14% share of total exports. It was followed by Nigeria, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Luxembourg totaled +100.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+20.3% per year) and Nigeria (+17.6% per year).

Export Prices by Country

The average export price for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA stood at $X per unit in 2022, growing by 57% against the previous year. Over the period under review, the export price, however, continues to indicate a dramatic decline. The most prominent rate of growth was recorded in 2014 an increase of 117%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Luxembourg ($X per unit), while the average price for exports to Spain ($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 Luxembourg (+14.9%), while the prices for the other major destinations experienced a decline.

Imports of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over 500 kVA

Imports into Belgium

In 2022, imports of electrical transformers with non-liquid dielectric, of power handling capacity over X kva into Belgium surged to X units, growing by 101% against 2021. Overall, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 25,055% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, imports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA plummeted to $X in 2022. Over the period under review, imports, however, continue to indicate a pronounced decrease. The growth pace was the most rapid in 2018 with an increase of 40% against the previous year. Over the period under review, imports of reached the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

France (X units), Germany (X units) and the United States (X units) were the main suppliers of imports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA to Belgium, together accounting for 54% of total imports. China, the Czech Republic, the Netherlands, Denmark, Italy, the UK and Croatia lagged somewhat behind, together accounting for a further 42%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +284.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and Italy ($X) were the largest electrical transformers with non-liquid dielectric, of power handling capacity over X kVA suppliers to Belgium, together comprising 83% of total imports. Denmark, the Czech Republic, Croatia, China, the United States, the UK and the Netherlands lagged somewhat behind, together accounting for a further 17%.

The Czech Republic, with a CAGR of +199.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA amounted to $X per unit, shrinking by -58.1% against the previous year. In general, the import price showed a significant curtailment. The most prominent rate of growth was recorded in 2016 when the average import price increased by 97%. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

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 Germany ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (-39.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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