GCC: Electrical Transformer Market 2024

Electrical Transformer Market Size in GCC

The GCC electrical transformer market soared to $X in 2022, with an increase of X% against the previous year. Overall, consumption, however, enjoyed a moderate expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Electrical Transformer Production in GCC

In value terms, electrical transformer production soared to $X in 2022 estimated in export price. Over the period under review, production continues to indicate prominent growth. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Electrical Transformer Exports

Exports in GCC

After two years of growth, overseas shipments of electrical transformers decreased by X% to X units in 2022. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of X units, and then shrank markedly in the following year.

In value terms, electrical transformer exports surged to $X in 2022. Over the period under review, exports saw a abrupt downturn. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Saudi Arabia represented the main exporter of electrical transformers in GCC, with the volume of exports accounting for X units, which was near X% of total exports in 2022. The United Arab Emirates (X units) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Oman (X%). Bahrain (X units) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to electrical transformer exports from Saudi Arabia stood at X%. At the same time, Oman (X%) and Bahrain (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. From 2012 to 2022, the share of Oman increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Oman ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Oman, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, picking up by X% against the previous year. In general, the export price, however, recorded a abrupt setback. The level of export peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Oman ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced a decline in the export price figures.

Electrical Transformer Imports

Imports in GCC

After two years of growth, overseas purchases of electrical transformers decreased by X% to X units in 2022. In general, imports, however, posted strong growth. The pace of growth was the most pronounced in 2021 with an increase of 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 rose rapidly to $X in 2022. Over the period under review, imports saw a abrupt decline. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates represented the main importing country with an import of around X units, which recorded X% of total imports. Saudi Arabia (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (X%) and Kuwait (X%). Oman (X units) and Bahrain (X units) followed a long way behind the leaders.

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

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Qatar ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of total imports. Bahrain, Kuwait and Oman lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Bahrain, 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 mixed trends in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, with an increase of X% against the previous year. Over the period under review, the import price, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Bahrain ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform