Philippines: Market for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over 500 kVA 2024

Market Size for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over 500 kVA in the Philippines

The Philippine market for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA shrank modestly to $X in 2022, leveling off at 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 abrupt setback. 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 over 500 kVA

Exports from the Philippines

In 2022, the amount of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA exported from the Philippines surged to X units, picking up by 67% on the previous year's figure. Overall, exports saw a resilient increase. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, exports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA soared to $X in 2022. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 1,698%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Thailand (X units) was the main destination for exports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA from the Philippines, accounting for a 50% share of total exports. Moreover, exports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA to Thailand exceeded the volume sent to the second major destination, Guatemala (X units), fivefold. The third position in this ranking was taken by Iceland (X units), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Thailand stood at +17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (0.0% per year) and Iceland (0.0% per year).

In value terms, the largest markets for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA exported from the Philippines were the United States ($X), Thailand ($X) and Hong Kong SAR ($X), together comprising 69% of total exports. France, Italy, Israel, Kuwait, Bahrain, Guatemala, Malaysia, Canada, Iceland and Germany lagged somewhat behind, together accounting for a further 7.3%.

In terms of the main countries of destination, France, with a CAGR of +77.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA stood at $X per unit in 2022, jumping by 193% against the previous year. In general, the export price continues to indicate a significant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Israel ($X per unit), while the average price for exports to Germany ($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 Malaysia (+56.4%), 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 over 500 kVA

Imports into the Philippines

In 2022, approx. X units of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA were imported into the Philippines; remaining relatively unchanged against the previous year's figure. Over the period under review, imports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2020 when imports increased by 52,064%. 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 over X kVA soared to $X in 2022. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by 186% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest electrical transformers with non-liquid dielectric, of power handling capacity over X kVA supplier to the Philippines, accounting for a 72% share of total imports. Moreover, imports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), sevenfold. India (X units) ranked third in terms of total imports with a 5.8% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+26.3% per year) and India (+13.7% per year).

In value terms, China ($X) constituted the largest supplier of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA to the Philippines, comprising 35% of total imports. The second position in the ranking was held by India ($X), with a 5.6% share of total imports. It was followed by Japan, with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+21.0% per year) and Japan (-3.9% per year).

Import Prices by Country

In 2022, the average import price for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA amounted to $X per unit, jumping by 54% against the previous year. Over the period under review, the import price continues to indicate prominent growth. The most prominent rate of growth was recorded in 2021 when the average import price increased by 18,161%. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+15.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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