Middle East: Market for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity over 10000 kVA 2024

Market Size for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity over 10000 kVA in the Middle East

The Middle Eastern market for electrical transformers with liquid dielectric, of power handling capacity over X kVA reduced to $X in 2022, shrinking by -7% against the previous year. Over the period under review, consumption saw a perceptible decline. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Production of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity over X kVA in the Middle East

In value terms, production of electrical transformers with liquid dielectric, of power handling capacity over X kVA contracted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a deep slump. The most prominent rate of growth was recorded in 2013 with an increase of 26%. Over the period under review, production of hit record highs at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Exports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity over 10000 kVA

Exports in the Middle East

In 2022, shipments abroad of electrical transformers with liquid dielectric, of power handling capacity over X kVA decreased by -8% to X units for the first time since 2017, thus ending a four-year rising trend. Overall, exports showed a pronounced slump. The pace of growth was the most pronounced in 2015 with an increase of 57%. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of electrical transformers with liquid dielectric, of power handling capacity over X kVA rose remarkably to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 43% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

Turkey prevails in kVA structure, amounting to X units, which was near 79% of total exports in 2022. Iran (X units) ranks second in terms of the total exports with an 8.1% share, followed by Saudi Arabia (5%). The following exporters - Israel (X units) and the United Arab Emirates (X units) - together made up 5.7% of total exports.

Turkey experienced a relatively flat trend pattern with regard to volume of exports of electrical transformers with liquid dielectric, of power handling capacity over X kVA. At the same time, Iran (+10.7%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +10.7% from 2012-2022. By contrast, Saudi Arabia (-4.1%), Israel (-12.3%) and the United Arab Emirates (-20.0%) illustrated a downward trend over the same period. Turkey (+15 p.p.) and Iran (+5.8 p.p.) significantly strengthened its position in terms of the total exports, while Israel and the United Arab Emirates saw its share reduced by -7.3% and -12.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest electrical transformers with liquid dielectric, of power handling capacity over X kVA supplier in the Middle East, comprising 93% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 2.5% share of total exports. It was followed by Israel, with a 1.8% share.

In Turkey, exports of electrical transformers with liquid dielectric, of power handling capacity over X kVA remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (-3.7% per year) and Israel (-13.2% per year).

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2022, picking up by 18% against the previous year. Export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for electrical transformers with liquid dielectric, of power handling capacity over X kVA increased by +30.9% against 2018 indices. The pace of growth appeared the most rapid in 2013 when the export price increased by 42%. Over the period under review, the export prices reached the peak figure at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while Iran ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+11.7%), while the other leaders experienced more modest paces of growth.

Imports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity over 10000 kVA

Imports in the Middle East

After two years of growth, supplies from abroad of electrical transformers with liquid dielectric, of power handling capacity over X kVA decreased by -5.6% to X units in 2022. In general, imports continue to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2013 when imports increased by 1,128% against the previous year. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of electrical transformers with liquid dielectric, of power handling capacity over X kVA stood at $X in 2022. Over the period under review, imports recorded a perceptible descent. The most prominent rate of growth was recorded in 2014 with an increase of 23%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

Iraq was the major importer of electrical transformers with liquid dielectric, of power handling capacity over X kVA in the Middle East, with the volume of imports finishing at X units, which was approx. 40% of total imports in 2022. Bahrain (X units) took a 24% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (16%) and Israel (7.2%). Kuwait (X units), Qatar (X units) and Oman (X units) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Israel (with a CAGR of +57.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest electrical transformers with liquid dielectric, of power handling capacity over X kVA importing markets in the Middle East were Iraq ($X), the United Arab Emirates ($X) and Bahrain ($X), with a combined 60% share of total imports. Israel, Qatar, Kuwait and Oman lagged somewhat behind, together accounting for a further 16%.

Israel, with a CAGR of +46.9%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per unit, surging by 21% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the import price increased by 751%. Over the period under review, import prices attained the maximum at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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 the United Arab Emirates ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+23.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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