India: Market for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 1 kVA to 16 kVA 2024

Market Size for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 1 kVA to 16 kVA in India

In 2022, the Indian market for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

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

In value terms, production of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA soared to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. Over the period under review, production of hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 1 kVA to 16 kVA

Exports from India

In 2022, the amount of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA exported from India expanded remarkably to X units, surging by 8.7% compared with 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 327% against the previous year. Over the period under review, the exports of attained the maximum at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA expanded notably to $X in 2022. Overall, exports, however, recorded a pronounced shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 144% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for exports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA from India, with a 7.1% share of total exports. Moreover, exports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA to the United States exceeded the volume sent to the second major destination, the UK (X units), fourfold. The third position in this ranking was held by Mexico (X units), with a 1.6% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-31.7% per year) and Mexico (+10.4% per year).

In value terms, the United States ($X) remains the key foreign market for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA exports from India, comprising 43% of total exports. The second position in the ranking was held by Egypt ($X), with an 8.8% share of total exports. It was followed by Mexico, with a 4.1% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +8.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+74.6% per year) and Mexico (+15.5% per year).

Export Prices by Country

In 2022, the average export price for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA amounted to $X per unit, flattening at the previous year. In general, the export price continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2013 an increase of 179% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to the UK ($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 Egypt (+16.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 1 kVA to 16 kVA

Imports into India

In 2022, approx. X units of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA were imported into India; surging by 4.9% on 2021 figures. Overall, total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +20.5% against 2015 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 29% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, imports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA surged to $X in 2022. Over the period under review, imports saw a prominent increase. The most prominent rate of growth was recorded in 2021 when imports increased by 110%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA to India, accounting for a 88% share of total imports. Moreover, imports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), more than tenfold. The third position in this ranking was taken by Singapore (X units), with a 2.8% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+15.5% per year) and Singapore (+27.8% per year).

In value terms, the largest electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA suppliers to India were China ($X), Hong Kong SAR ($X) and the United States ($X), with a combined 72% share of total imports.

Hong Kong SAR, with a CAGR of +50.3%, 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

The average import price for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA stood at $X per unit in 2022, increasing by 76% against the previous year. Over the period under review, the import price saw a noticeable expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Hong Kong SAR ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+30.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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