Spain: Market for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over 500 kVA 2024

Market Size for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over 500 kVA in Spain

The Spanish market for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA skyrocketed to $X in 2022, rising by 23% against the previous year. Overall, consumption posted a moderate expansion. Consumption of peaked in 2022 and is expected to retain growth in the immediate term.

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

In value terms, production of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 34% against the previous year. As a result, production reached the peak level of $X, and then shrank in the following year.

Exports of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over 500 kVA

Exports from Spain

In 2022, approx. X units of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA were exported from Spain; with a decrease of -3.8% against 2021 figures. Over the period under review, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 16,470%. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA rose remarkably to $X in 2022. In general, exports saw a pronounced decrease. The pace of growth appeared the most rapid in 2014 with an increase of 13%. Over the period under review, the exports of attained the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Portugal (X units) was the main destination for exports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA from Spain, with a 35% share of total exports. Moreover, exports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA to Portugal exceeded the volume sent to the second major destination, Finland (X units), threefold. Turkey (X units) ranked third in terms of total exports with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume to Portugal totaled +84.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+186.3% per year) and Turkey (+44.8% per year).

In value terms, Sweden ($X), Finland ($X) and Turkey ($X) appeared to be the largest markets for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA exported from Spain worldwide, together accounting for 42% of total exports.

Among the main countries of destination, Finland, with a CAGR of +94.0%, recorded 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 export price for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA amounted to $X per unit, increasing by 12% against the previous year. Overall, the export price, however, faced a dramatic slump. The pace of growth was the most pronounced in 2015 an increase of 72% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 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 Sweden ($X per unit), while the average price for exports to Portugal ($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 (-20.4%), while the prices for the other major destinations experienced a decline.

Imports of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over 500 kVA

Imports into Spain

Imports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA into Spain soared to X units in 2022, picking up by 66% against 2021 figures. Overall, imports posted a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 16,741%. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, imports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA soared to $X in 2022. Over the period under review, total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.4% 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 +86.7% against 2020 indices. Over the period under review, imports of attained the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Italy (X units), France (X units) and Germany (X units) were the main suppliers of imports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA to Spain, together accounting for 89% of total imports. China, the UK and Australia lagged somewhat behind, together comprising a further 7.7%.

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 +159.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest electrical transformers with non-liquid dielectric, of power handling capacity over X kVA suppliers to Spain were Italy ($X), Germany ($X) and China ($X), together accounting for 80% of total imports.

Among the main suppliers, China, with a CAGR of +42.1%, saw the highest growth rate of 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 non-liquid dielectric, of power handling capacity over X kVA stood at $X per unit in 2022, therefore, remained relatively stable against the previous year. Over the period under review, the import price saw a dramatic decline. The growth pace was the most rapid in 2015 when the average import price increased by 75% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (-39.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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