India: Market for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over 500 kVA 2024

Market Size for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over 500 kVA in India

In 2022, after ten years of growth, there was significant decline in the Indian market for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA, when its value decreased by -23.3% to $X. Over the period under review, consumption, however, continues to indicate a buoyant expansion. Consumption of peaked at $X in 2021, and then dropped significantly in the following year.

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

In value terms, production of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA soared to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. Over the period under review, production of hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over 500 kVA

Exports from India

In 2022, shipments abroad of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA decreased by -3% to X units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 14,341% against the previous year. Over the period under review, the exports of hit record highs at X units in 2021, and then fell slightly in the following year.

In value terms, exports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA rose significantly to $X in 2022. In general, exports, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 246%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

The UK (X units) was the main destination for exports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA from India, accounting for a 42% share of total exports. Moreover, exports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA to the UK exceeded the volume sent to the second major destination, the United States (X units), threefold. The third position in this ranking was held by Bhutan (X units), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK amounted to +213.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+67.8% per year) and Bhutan (+203.9% per year).

In value terms, Bhutan ($X) remains the key foreign market for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA exports from India, comprising 42% of total exports. The second position in the ranking was taken by Nepal ($X), with an 11% share of total exports. It was followed by Nigeria, with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Bhutan amounted to +110.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (+85.9% per year) and Nigeria (+3.4% per year).

Export Prices by Country

In 2022, the average export price for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA amounted to $X per unit, surging by 18% against the previous year. Over the period under review, the export price, however, recorded a precipitous decline. The growth pace was the most rapid in 2016 an increase of 145%. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bhutan ($X per unit), while the average price for exports to the UK ($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 Nepal (-23.1%), while the prices for the other major destinations experienced a decline.

Imports of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over 500 kVA

Imports into India

In 2022, purchases abroad of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA decreased by -67.6% to X units for the first time since 2017, thus ending a four-year rising trend. In general, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 35,708%. Over the period under review, imports of attained the maximum at X units in 2021, and then fell sharply in the following year.

In value terms, imports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA fell dramatically to $X in 2022. Overall, imports recorded a pronounced descent. The most prominent rate of growth was recorded in 2021 with an increase of 78%. As a result, imports reached the peak of $X, and then contracted significantly in the following year.

Imports by Country

In 2022, China (X units) was the main supplier of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA to India, with a approx. 97% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China totaled +57.8%.

In value terms, China ($X) constituted the largest supplier of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA to India.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +25.2%.

Import Prices by Country

The average import price for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA stood at $X per unit in 2022, jumping by 54% against the previous year. In general, the import price, however, continues to indicate a precipitous slump. The pace of growth was the most pronounced in 2016 an increase of 82% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -20.6% per year.

Source: IndexBox Platform

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