Northern America: Electrical Transformer Market 2024

Electrical Transformer Market Size in Northern America

In 2022, the North American electrical transformer market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. The total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Electrical Transformer Production in Northern America

In value terms, electrical transformer production expanded sharply to $X in 2022 estimated in export price. Overall, production showed a drastic downturn. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Electrical Transformer Exports

Exports in Northern America

In 2022, electrical transformer exports in Northern America soared to X units, with an increase of X% on 2021 figures. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of X%. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, electrical transformer exports skyrocketed to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, the United States (X units) was the key exporter of electrical transformers, creating X% of total exports. It was distantly followed by Canada (X units), generating a X% share of total exports.

The United States experienced a relatively flat trend pattern with regard to volume of exports of electrical transformers. At the same time, Canada (X%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of X% from 2012-2022. While the share of Canada (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United States (X p.p.) displayed negative dynamics.

In value terms, the United States ($X) and Canada ($X) were the countries with the highest levels of exports in 2022.

Canada, 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.

Export Prices by Country

The export price in Northern America stood at $X per unit in 2022, dropping by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 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 Canada ($X per unit), while the United States amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Electrical Transformer Imports

Imports in Northern America

In 2022, approx. X units of electrical transformers were imported in Northern America; increasing by X% compared with the previous year. In general, imports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, electrical transformer imports surged to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X units) was the largest importer of electrical transformers, generating X% of total imports. It was distantly followed by Canada (X units), making up a X% share of total imports.

Imports into the United States decreased at an average annual rate of X% from 2012 to 2022. At the same time, Canada (X%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Canada increased by X percentage points.

In value terms, the United States ($X) constitutes the largest market for imported electrical transformers in Northern America, comprising X% of total imports. The second position in the ranking was held by Canada ($X), with an X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled X%.

Import Prices by Country

The import price in Northern America stood at $X per unit in 2022, picking up by X% against the previous year. Over the period under review, the import price posted a resilient increase. The pace of growth was the most pronounced in 2013 an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while Canada amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Source: IndexBox Platform

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