Philippines: 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 the Philippines

The Philippine market for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA contracted rapidly to $X in 2022, dropping by -34.9% 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). Overall, consumption faced a abrupt setback. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

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

Exports from the Philippines

In 2022, the amount of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA exported from the Philippines surged to X units, increasing by 418% compared with the previous year. In general, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 444%. As a result, the exports reached 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 reduced sharply to $X in 2022. Over the period under review, exports recorded a measured expansion. The pace of growth was the most pronounced in 2018 when exports increased by 187% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Spain (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 the Philippines, with a 42% share of total exports. Moreover, exports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA to Spain exceeded the volume sent to the second major destination, Japan (X units), sevenfold. The third position in this ranking was taken by Thailand (X units), with a 5.4% share.

From 2012 to 2022, the average annual growth rate of volume to Spain stood at +187.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+113.2% per year) and Thailand (+6.1% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA exports from the Philippines, comprising 38% of total exports. The second position in the ranking was held by Japan ($X), with a 13% share of total exports. It was followed by Thailand, with a 1.6% share.

From 2012 to 2022, the average annual growth rate of value to Hong Kong SAR totaled +11.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+28.4% per year) and Thailand (+1.7% per year).

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, dropping by -85.3% against the previous year. In general, the export price saw a sharp descent. The pace of growth appeared the most rapid in 2021 an increase of 1,978% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 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 China ($X per unit), while the average price for exports to Spain ($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 China (+74.1%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into the Philippines

In 2022, the amount of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA imported into the Philippines skyrocketed to X units, jumping by 26% against the previous year. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by 261% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA skyrocketed to $X in 2022. Over the period under review, imports, however, showed a abrupt descent. The pace of growth was the most pronounced in 2020 with an increase of 261%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA supplier to the Philippines, with a 95% share of total imports. It was followed by Japan (X units), with a 3% share of total imports. Hong Kong SAR (X units) ranked third in terms of total imports with a 1.1% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+33.1% per year) and Hong Kong SAR (-16.3% per year).

In value terms, China ($X) constituted the largest supplier of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA to the Philippines, comprising 58% of total imports. The second position in the ranking was taken by the United States ($X), with a 4.5% share of total imports. It was followed by Japan, with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to -8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-10.4% per year) and Japan (+5.3% per year).

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, almost unchanged from the previous year. Over the period under review, the import price recorded a abrupt decrease. The pace of growth was the most pronounced in 2014 when the average import price increased by 22% against the previous year. Over the period under review, average import prices reached 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 South Korea ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+91.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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