Costa Rica: Electrical Transformer Market 2025

Electrical Transformer Market Size in Costa Rica

In 2022, the Costa Rican electrical transformer market decreased by X% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Electrical Transformer Production in Costa Rica

In value terms, electrical transformer production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% 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 2014 with an increase of X%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Electrical Transformer Exports

Exports from Costa Rica

After seven years of growth, shipments abroad of electrical transformers decreased by X% to X units in 2022. In general, exports, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports reached the peak of X units, and then dropped remarkably in the following year.

In value terms, electrical transformer exports amounted to $X in 2022. Overall, total exports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for electrical transformer exports from Costa Rica, accounting for a X% share of total exports. Moreover, electrical transformer exports to the United States exceeded the volume sent to the second major destination, Mexico (X units), threefold. Guatemala (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Guatemala (X% per year).

In value terms, the United States ($X) remains the key foreign market for electrical transformers exports from Costa Rica, comprising X% of total exports. The second position in the ranking was held by Mexico ($X), with an X% share of total exports. It was followed by Guatemala, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Guatemala (X% per year).

Export Prices by Country

The average electrical transformer export price stood at $X per unit in 2022, with an increase of X% against the previous year. Over the period under review, the export price, however, recorded a deep contraction. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Panama ($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 Guatemala (X%), while the prices for the other major destinations experienced a decline.

Electrical Transformer Imports

Imports into Costa Rica

After two years of growth, purchases abroad of electrical transformers decreased by X% to X units in 2022. Overall, imports, however, posted perceptible growth. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of X units, and then contracted sharply in the following year.

In value terms, electrical transformer imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a deep slump. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X units), China (X units) and Mexico (X units) were the main suppliers of electrical transformer imports to Costa Rica, with a combined X% share of total imports. Ecuador, Taiwan (Chinese), Spain, Hong Kong SAR and Colombia lagged somewhat behind, together accounting for a further X%.

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

In value terms, the United States ($X) constituted the largest supplier of electrical transformers to Costa Rica, comprising X% of total imports. The second position in the ranking was held by Colombia ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (X% per year) and China (X% per year).

Import Prices by Country

The average electrical transformer import price stood at $X per unit in 2022, increasing by X% against the previous year. Overall, the import price, however, continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2017 when the average import price increased by X%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Colombia ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform