Serbia: Electrical Transformer Market 2025

Electrical Transformer Market Size in Serbia

In 2022, the Serbian electrical transformer market decreased by X% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption, however, continues to indicate a deep reduction. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Electrical Transformer Production in Serbia

In value terms, electrical transformer production fell notably to $X in 2022 estimated in export price. Over the period under review, production, however, saw a deep slump. The pace of growth was the most pronounced in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Electrical Transformer Exports

Exports from Serbia

In 2022, after four years of growth, there was significant decline in overseas shipments of electrical transformers, when their volume decreased by X% to X units. Over the period under review, exports, however, showed significant growth. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of X units, and then reduced remarkably in the following year.

In value terms, electrical transformer exports surged to $X in 2022. Overall, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of X%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Austria (X units) was the main destination for electrical transformer exports from Serbia, with a X% share of total exports. Moreover, electrical transformer exports to Austria exceeded the volume sent to the second major destination, Germany (X units), twofold. Bulgaria (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Austria amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Bulgaria (X% per year).

In value terms, the largest markets for electrical transformer exported from Serbia were Slovenia ($X), Austria ($X) and Bulgaria ($X), together comprising X% of total exports. Italy, Germany, Hungary, the Czech Republic, Croatia and Denmark lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, the Czech Republic, with a CAGR of X%, saw 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

In 2022, the average electrical transformer export price amounted to $X per unit, with an increase of X% against the previous year. Overall, the export price, however, saw a precipitous slump. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Slovenia ($X per unit), while the average price for exports to the Czech Republic ($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 Slovenia (X%), while the prices for the other major destinations experienced a decline.

Electrical Transformer Imports

Imports into Serbia

After two years of growth, overseas purchases of electrical transformers decreased by X% to X units in 2022. Overall, imports, however, saw significant growth. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X units, and then shrank sharply in the following year.

In value terms, electrical transformer imports soared to $X in 2022. In general, imports continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Austria (X units) constituted the largest electrical transformer supplier to Serbia, accounting for a X% share of total imports. Moreover, electrical transformer imports from Austria exceeded the figures recorded by the second-largest supplier, China (X units), sixfold. The third position in this ranking was held by Croatia (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Austria amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Croatia (X% per year).

In value terms, the largest electrical transformer suppliers to Serbia were China ($X), Austria ($X) and Croatia ($X), with a combined X% share of total imports.

China, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

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, recorded a sharp contraction. The import price peaked 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 China ($X per unit), while the price for Slovenia ($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 (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform