Norway: 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 Norway

The Norwegian market for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA surged to $X in 2022, rising by 76% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a remarkable increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

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

Exports from Norway

In 2022, approx. X units of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA were exported from Norway; jumping by 18% on 2021 figures. Over the period under review, exports posted a notable increase. The pace of growth was the most pronounced in 2020 when exports increased by 990% against the previous year. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA surged to $X in 2022. Overall, exports posted a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Sweden (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 Norway, with a 33% share of total exports. Moreover, exports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA to Sweden exceeded the volume sent to the second major destination, Finland (X units), twofold. Vietnam (X units) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden totaled +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+27.6% per year) and Vietnam (+41.1% per year).

In value terms, the largest markets for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA exported from Norway were Qatar ($X), Finland ($X) and Sweden ($X), together comprising 60% of total exports.

Qatar, with a CAGR of +130.2%, saw 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 non-liquid dielectric, of power handling capacity from X kVA to X kVA amounted to $X per unit, increasing by 213% against the previous year. Over the period under review, the export price recorded a perceptible increase. The pace of growth appeared the most rapid in 2021 when the average export price increased by 1,229%. Over the period under review, the average export prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per unit), while the average price for exports to Vietnam ($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 Qatar (+39.9%), 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 Norway

In 2022, imports of electrical transformers with non-liquid dielectric, of power handling capacity from X kva to X kva into Norway soared to X units, jumping by 72% against 2021. Overall, imports saw prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 1,618% against the previous year. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

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 showed a resilient increase. The most prominent rate of growth was recorded in 2016 when imports increased by 131%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

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 Norway, with a 45% 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, Sri Lanka (X units), twofold. The third position in this ranking was taken by Sweden (X units), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +17.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (+134.3% per year) and Sweden (+7.1% 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 Norway were Sri Lanka ($X), the UK ($X) and Sweden ($X), with a combined 39% share of total imports.

Sri Lanka, with a CAGR of +88.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA amounted to $X per unit, which is down by -19.1% against the previous year. Overall, the import price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2021 an increase of 1,757% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a 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 Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+12.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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