Philippines: Electrical Transformer Market 2025

Electrical Transformer Market Size in the Philippines

The Philippine electrical transformer market was estimated at $X.5B in 2022, flattening at the previous year. Over the period under review, consumption showed a notable expansion. Electrical transformer consumption peaked at $X.2B in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Electrical Transformer Production in the Philippines

In value terms, electrical transformer production stood at $X.6B in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. Electrical transformer production peaked at $X.1B in 2020; however, from 2021 to 2022, production remained at a lower figure.

Electrical Transformer Exports

Exports from the Philippines

In 2022, overseas shipments of electrical transformers decreased by X% to X units for the first time since 2016, thus ending a five-year rising trend. In general, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X units, and then declined dramatically in the following year.

In value terms, electrical transformer exports dropped remarkably to $X in 2022. Over the period under review, exports, however, showed a strong increase. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

China (X units), the United States (X units) and Poland (X units) were the main destinations of electrical transformer exports from the Philippines, with a combined X% share of total exports. India, France, Thailand, Romania, Tunisia and South Korea lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Tunisia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electrical transformer exported from the Philippines were China ($X), the United States ($X) and India ($X), together accounting for X% of total exports. France, South Korea, Thailand, Romania, Poland and Tunisia lagged somewhat behind, together comprising a further X%.

Tunisia, with a CAGR of X%, saw the highest growth rate of the value of exports, among 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

The average electrical transformer export price stood at $X per unit in 2022, surging by X% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to Poland ($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 Democratic People's Republic of Korea (X.8%), while the prices for the other major destinations experienced mixed trend patterns.

Electrical Transformer Imports

Imports into the Philippines

For the fifth year in a row, the Philippines recorded growth in overseas purchases of electrical transformers, which increased by X% to X units in 2022. In general, imports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, electrical transformer imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed buoyant growth. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Hong Kong SAR (X units), China (X units) and South Korea (X units) were the main suppliers of electrical transformer imports to the Philippines, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of electrical transformers to the Philippines, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports. It was followed by Vietnam, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Vietnam (X% per year).

Import Prices by Country

In 2022, the average electrical transformer import price amounted to $X per unit, rising by X% against the previous year. Over the period under review, the import price, however, showed a perceptible curtailment. The pace of growth was the most pronounced in 2014 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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