Spain: Market for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity over 10000 kVA 2024

Market Size for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity over 10000 kVA in Spain

In 2022, the Spanish market for electrical transformers with liquid dielectric, of power handling capacity over X kVA decreased by -19.2% to $X for the first time since 2018, thus ending a three-year rising trend. In general, consumption, however, posted a perceptible expansion. Consumption of peaked at $X in 2021, and then dropped notably in the following year.

Production of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity over X kVA in Spain

In value terms, production of electrical transformers with liquid dielectric, of power handling capacity over X kVA reached $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 2.5% against the previous year. Over the period under review, production of reached the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity over 10000 kVA

Exports from Spain

After two years of growth, overseas shipments of electrical transformers with liquid dielectric, of power handling capacity over X kVA decreased by -97.1% to X units in 2022. Overall, exports showed a deep contraction. The pace of growth appeared the most rapid in 2020 with an increase of 5,656% against the previous year. The exports peaked at X units in 2021, and then reduced markedly in the following year.

In value terms, exports of electrical transformers with liquid dielectric, of power handling capacity over X kVA reduced to $X in 2022. Over the period under review, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2020 when exports increased by 177% against the previous year. Over the period under review, the exports of hit record highs at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Portugal (X units) was the main destination for exports of electrical transformers with liquid dielectric, of power handling capacity over X kVA from Spain, accounting for a 43% share of total exports. Moreover, exports of electrical transformers with liquid dielectric, of power handling capacity over X kVA to Portugal exceeded the volume sent to the second major destination, France (X units), threefold. The United States (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Portugal amounted to +36.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-10.5% per year) and the United States (-4.7% per year).

In value terms, the United States ($X) remains the key foreign market for electrical transformers with liquid dielectric, of power handling capacity over X kVA exports from Spain, comprising 69% of total exports. The second position in the ranking was taken by Portugal ($X), with a 12% share of total exports. It was followed by France, with a 0.5% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +10.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+36.8% per year) and France (-39.4% per year).

Export Prices by Country

In 2022, the average export price for electrical transformers with liquid dielectric, of power handling capacity over X kVA amounted to $X per unit, surging by 2,967% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 9,084% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 to 2022, the average export prices failed to regain momentum.

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 the United States ($X per unit), while the average price for exports to Switzerland ($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 Canada (+290.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity over 10000 kVA

Imports into Spain

After three years of growth, supplies from abroad of electrical transformers with liquid dielectric, of power handling capacity over X kVA decreased by -76.7% to X units in 2022. Over the period under review, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 930% against the previous year. Over the period under review, imports of hit record highs at X units in 2021, and then fell markedly in the following year.

In value terms, imports of electrical transformers with liquid dielectric, of power handling capacity over X kVA expanded sharply to $X in 2022. In general, total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.7% against 2020 indices. The pace of growth was the most pronounced in 2015 when imports increased by 111% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

Lebanon (X units), Croatia (X units) and Turkey (X units) were the main suppliers of imports of electrical transformers with liquid dielectric, of power handling capacity over X kVA to Spain, together accounting for 58% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +98.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Turkey ($X) and Croatia ($X) constituted the largest electrical transformers with liquid dielectric, of power handling capacity over X kVA suppliers to Spain, with a combined 63% share of total imports. Portugal, Germany, China, Slovenia, Hungary and Lebanon lagged somewhat behind, together comprising a further 34%.

In terms of the main suppliers, China, with a CAGR of +96.2%, recorded the highest rates of growth with regard to the value of imports, 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 over X kVA stood at $X per unit in 2022, with an increase of 359% against the previous year. Over the period under review, the import price, however, faced a dramatic contraction. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lebanon (+158.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :