India: Market for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from 1 kVA - 650 kVA 2025

Market Size for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from 1 kVA - 650 kVA in India

In 2022, the Indian market for electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA decreased by -34.7% to $X, falling for the third consecutive year after two years of growth. Overall, consumption saw a pronounced decrease. The pace of growth appeared the most rapid in 2019 when the market value increased by 3.7%. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Production of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from X kVA - X kVA in India

In value terms, production of electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA fell to $X in 2022 estimated in export price. Overall, production, however, recorded a prominent expansion. The pace of growth appeared the most rapid in 2020 with an increase of 159%. Production of peaked at $X in 2021, and then reduced in the following year.

Exports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from 1 kVA - 650 kVA

Exports from India

In 2022, shipments abroad of electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA increased by 3.4% to X units, rising for the seventh consecutive year after two years of decline. Overall, exports posted a significant expansion. The growth pace was the most rapid in 2020 with an increase of 3,017%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, exports of electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA skyrocketed to $X in 2022. In general, total exports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.4% 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 +86.0% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The UK (X units), Greece (X units) and the United States (X units) were the main destinations of exports of electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA from India, together comprising 48% of total exports. Italy, Canada, Finland, Australia, Nepal, Sri Lanka, Kenya, Bangladesh, Vietnam and Chile lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +194.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Greece ($X) and Italy ($X) were the largest markets for electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA exported from India worldwide, with a combined 51% share of total exports. Finland, Chile, Canada, Australia, the United States, Vietnam, Kenya, Nepal, Bangladesh and Sri Lanka lagged somewhat behind, together accounting for a further 23%.

Canada, with a CAGR of +135.8%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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 export price for electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA amounted to $X per unit, jumping by 54% against the previous year. Over the period under review, the export price, however, saw a sharp decrease. The pace of growth was the most pronounced in 2014 when the average export price increased by 82% against the previous year. 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.

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 Chile ($X per unit), while the average price for exports to Sri Lanka ($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 Canada (-20.6%), while the prices for the other major destinations experienced a decline.

Imports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from 1 kVA - 650 kVA

Imports into India

After three years of growth, supplies from abroad of electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA decreased by -74.3% to X units in 2022. Over the period under review, imports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 1,990%. Over the period under review, imports of attained the maximum at X units in 2021, and then contracted sharply in the following year.

In value terms, imports of electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA reached $X in 2022. Overall, imports showed a perceptible downturn. The pace of growth was the most pronounced in 2018 with an increase of 96% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA supplier to India, accounting for a 52% share of total imports. Moreover, imports of electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA from China exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. Belgium (X units) ranked third in terms of total imports with a 6.6% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+38.7% per year) and Belgium (+37.4% per year).

In value terms, China ($X) constituted the largest supplier of electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA to India, comprising 54% of total imports. The second position in the ranking was held by the United States ($X), with a 15% share of total imports. It was followed by Chile, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +25.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+9.6% per year) and Chile (+102.9% per year).

Import Prices by Country

The average import price for electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA stood at $X per unit in 2022, growing by 337% against the previous year. In general, the import price, however, saw a abrupt descent. Over the period under review, average import prices reached the maximum at $X per unit in 2018; however, from 2019 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 the United States ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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