China: Electrical Transformer Market 2024

Electrical Transformer Market Size in China

In 2022, the Chinese electrical transformer market increased by X% to $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption, however, recorded a noticeable contraction. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Electrical Transformer Production in China

In value terms, electrical transformer production totaled $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Electrical Transformer Exports

Exports from China

For the fourth consecutive year, China recorded growth in overseas shipments of electrical transformers, which increased by X% to X units in 2022. In general, exports posted a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, electrical transformer exports soared to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Hong Kong SAR (X units) was the main destination for electrical transformer exports from China, with a X% share of total exports. Moreover, electrical transformer exports to Hong Kong SAR exceeded the volume sent to the second major destination, Vietnam (X units), fivefold. The third position in this ranking was held by Japan (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Hong Kong SAR totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Japan (X% per year).

In value terms, the largest markets for electrical transformer exported from China were Hong Kong SAR ($X), the United States ($X) and Japan ($X), with a combined X% share of total exports. Mexico, Vietnam, India, Germany, South Korea, Thailand, Taiwan (Chinese), Brazil and Poland lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Mexico, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average electrical transformer export price amounted to $X per unit, dropping by X% against the previous year. Overall, the export price showed a dramatic downturn. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

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

Electrical Transformer Imports

Imports into China

In 2022, supplies from abroad of electrical transformers increased by X% to X units, rising for the fifth consecutive year after three years of decline. Overall, imports posted a significant increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, electrical transformer imports contracted to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, Vietnam (X units) constituted the largest supplier of electrical transformer to China, with a X% share of total imports. Moreover, electrical transformer imports from Vietnam exceeded the figures recorded by the second-largest supplier, the Philippines (X units), threefold. India (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Vietnam amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (X% per year) and India (X% per year).

In value terms, the largest electrical transformer suppliers to China were Japan ($X), Vietnam ($X) and the United States ($X), with a combined X% share of total imports.

Vietnam, with a CAGR of X%, 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 electrical transformer import price amounted to $X per unit, dropping by X% against the previous year. In general, the import price faced a sharp setback. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood 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 Japan ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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