Singapore: Electrical Transformer Market 2024

Electrical Transformer Market Size in Singapore

The Singaporean electrical transformer market skyrocketed to $X in 2022, rising by X% against the previous year. In general, consumption saw buoyant growth. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Electrical Transformer Production in Singapore

In value terms, electrical transformer production surged to $X.5B in 2022 estimated in export price. Over the period under review, production enjoyed a prominent increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X.9B in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Electrical Transformer Exports

Exports from Singapore

Electrical transformer exports from Singapore skyrocketed to X units in 2022, jumping by X% against 2021 figures. Over the period under review, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, electrical transformer exports soared to $X in 2022. In general, exports, however, continue to indicate a pronounced decrease. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

India (X units) was the main destination for electrical transformer exports from Singapore, with a X% share of total exports. Moreover, electrical transformer exports to India exceeded the volume sent to the second major destination, the UK (X units), fivefold. The third position in this ranking was held by Indonesia (X units), with a X% share.

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

In value terms, Indonesia ($X) emerged as the key foreign market for electrical transformers exports from Singapore, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports. It was followed by India, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Indonesia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and India (X% per year).

Export Prices by Country

The average electrical transformer export price stood at $X per unit in 2022, jumping by X% against the previous year. In general, the export price, however, faced a dramatic slump. The pace of growth was the most pronounced in 2014 an increase of X%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a 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 Malaysia ($X per unit), while the average price for exports to India (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 Germany (X%), while the prices for the other major destinations experienced a decline.

Electrical Transformer Imports

Imports into Singapore

In 2022, overseas purchases of electrical transformers increased by X% to X units, rising for the fifth year in a row after two years of decline. Over the period under review, imports showed significant growth. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, electrical transformer imports skyrocketed to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Malaysia (X units) constituted the largest supplier of electrical transformer to Singapore, accounting for a X% share of total imports. Moreover, electrical transformer imports from Malaysia exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. Germany (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Germany (X% per year).

In value terms, China ($X), Hong Kong SAR ($X) and Malaysia ($X) were the largest electrical transformer suppliers to Singapore, with a combined X% share of total imports.

China, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the average electrical transformer import price amounted to $X per unit, reducing by X% against the previous year. Overall, the import price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2014 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 China ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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