Serbia: Market for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from 1 kVA - 650 kVA 2025

Market Size for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from 1 kVA - 650 kVA in Serbia

For the fifth consecutive year, the Serbian market for electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA recorded growth in sales value, which increased by 127% to $X in 2022. In general, consumption posted a strong expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from X kVA - X kVA in Serbia

In value terms, production of electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA skyrocketed to $X in 2022 estimated in export price. Over the period under review, production showed a resilient expansion. The pace of growth appeared the most rapid in 2020 when the production volume increased by 256%. As a result, production reached the peak level of $X. From 2021 to 2022, production of growth remained at a lower figure.

Exports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from 1 kVA - 650 kVA

Exports from Serbia

In 2022, shipments abroad of electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA decreased by -6.2% to X units, falling for the second consecutive year after seven years of growth. In general, exports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 11,584%. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA surged to $X in 2022. Over the period under review, exports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2016 with an increase of 170% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Bulgaria (X units), Finland (X units) and Montenegro (X units) were the main destinations of exports of electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA from Serbia, together comprising 93% of total exports.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +52.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA exported from Serbia were Finland ($X), Bulgaria ($X) and Sweden ($X), together comprising 90% of total exports.

Bulgaria, with a CAGR of +38.5%, 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 from X kVA - X kVA amounted to $X per unit, picking up by 49% against the previous year. Over the period under review, the export price, however, saw a noticeable curtailment. The most prominent rate of growth was recorded in 2021 an increase of 11,589% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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 Sweden ($X per unit), while the average price for exports to Montenegro ($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 Sweden (+3.4%), while the prices for the other major destinations experienced a decline.

Imports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from 1 kVA - 650 kVA

Imports into Serbia

In 2022, overseas purchases of electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA decreased by -12.9% to X units, falling for the second consecutive year after four years of growth. In general, imports continue to indicate a deep slump. The growth pace was the most rapid in 2020 when imports increased by 35,381%. 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 liquid dielectric, of power handling capacity from X kVA - X kVA contracted dramatically to $X in 2022. Over the period under review, imports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2020 with an increase of 86% against the previous year. Over the period under review, imports of attained the maximum at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), North Macedonia (X units) and the United States (X units) were the main suppliers of imports of electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA to Serbia, with a combined 72% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +47.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, North Macedonia ($X), China ($X) and Poland ($X) were the largest electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA suppliers to Serbia, together comprising 84% of total imports.

China, with a CAGR of +83.9%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for electrical transformers with liquid dielectric, of power handling capacity from X kVA - X kVA stood at $X per unit in 2022, reducing by -18.3% against the previous year. Over the period under review, the import price showed a deep reduction. The most prominent rate of growth was recorded in 2021 an increase of 18,930% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 Croatia ($X per unit), while the price for the Philippines ($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 (+25.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform