Republic of Korea: Market for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under 1 kVA 2025

Market Size for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under 1 kVA in Republic of Korea

The South Korean market for electrical transformers with liquid dielectric, of power handling capacity under X kVA reached $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under X kVA in Republic of Korea

In value terms, production of electrical transformers with liquid dielectric, of power handling capacity under X kVA fell significantly to $X in 2022 estimated in export price. Overall, production, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 216%. As a result, production attained the peak level of $X, and then plummeted in the following year.

Exports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under 1 kVA

Exports from Republic of Korea

In 2022, overseas shipments of electrical transformers with liquid dielectric, of power handling capacity under X kVA decreased by -45.1% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2021 with an increase of 922% against the previous year. As a result, the exports attained the peak of X units, and then dropped dramatically in the following year.

In value terms, exports of electrical transformers with liquid dielectric, of power handling capacity under X kVA reached $X in 2022. Over the period under review, exports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 27%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil (X units), China (X units) and Thailand (X units) were the main destinations of exports of electrical transformers with liquid dielectric, of power handling capacity under X kVA from South Korea, together comprising 63% of total exports. India, Russia, Mexico, Taiwan (Chinese) and South Africa lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +90.9%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), China ($X) and India ($X) appeared to be the largest markets for electrical transformers with liquid dielectric, of power handling capacity under X kVA exported from South Korea worldwide, with a combined 37% share of total exports.

Vietnam, with a CAGR of +23.5%, 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

In 2022, the average export price for electrical transformers with liquid dielectric, of power handling capacity under X kVA amounted to $X per unit, increasing by 83% against the previous year. Over the period under review, the export price, however, showed a drastic downturn. Over the period under review, the average export prices attained the maximum at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Africa ($X per unit), while the average price for exports to Brazil (less than $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 South Africa (+85.2%), while the prices for the other major destinations experienced a decline.

Imports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under 1 kVA

Imports into Republic of Korea

In 2022, purchases abroad of electrical transformers with liquid dielectric, of power handling capacity under X kVA decreased by -37.5% to X units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports saw a abrupt decrease. The pace of growth was the most pronounced in 2021 when imports increased by 301% against the previous year. Over the period under review, imports of attained the peak figure at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, imports of electrical transformers with liquid dielectric, of power handling capacity under X kVA expanded modestly to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 42%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

In 2022, China (X units) was the main electrical transformers with liquid dielectric, of power handling capacity under X kVA supplier to South Korea, with a 94% share of total imports. Moreover, imports of electrical transformers with liquid dielectric, of power handling capacity under X kVA from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+11.9% per year) and Hong Kong SAR (-40.3% per year).

In value terms, China ($X) constituted the largest supplier of electrical transformers with liquid dielectric, of power handling capacity under X kVA to South Korea, comprising 67% of total imports. The second position in the ranking was taken by Japan ($X), with a 9.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+1.8% per year) and Hong Kong SAR (-1.2% per year).

Import Prices by Country

The average import price for electrical transformers with liquid dielectric, of power handling capacity under X kVA stood at $X per unit in 2022, picking up by 66% against the previous year. Overall, the import price continues to indicate prominent growth. The growth pace was the most rapid in 2017 when the average import price increased by 147% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a somewhat 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 Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+65.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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