Sri Lanka: Market for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 1 kVA to 16 kVA 2024

Market Size for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 1 kVA to 16 kVA in Sri Lanka

The Sri Lankan market for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA skyrocketed to $X in 2022, with an increase of 38% against the previous year. In general, consumption, however, continues to indicate a perceptible downturn. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from X kVA to X kVA in Sri Lanka

In value terms, production of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA surged to $X in 2022 estimated in export price. In general, production, however, saw a slight reduction. The most prominent rate of growth was recorded in 2018 with an increase of 85% against the previous year. Production of peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 1 kVA to 16 kVA

Exports from Sri Lanka

In 2022, approx. X units of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA were exported from Sri Lanka; increasing by 9.4% against 2021. Over the period under review, exports recorded a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 1,163%. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA rose remarkably to $X in 2022. In general, exports posted a significant increase. The growth pace was the most rapid in 2019 with an increase of 365%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for exports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA from Sri Lanka, with a 54% share of total exports. Moreover, exports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA to the United States exceeded the volume sent to the second major destination, Germany (X units), threefold. The third position in this ranking was held by Norway (X units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +166.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+183.5% per year) and Norway (-91.6% per year).

In value terms, the United States ($X) emerged as the key foreign market for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA exports from Sri Lanka, comprising 49% of total exports. The second position in the ranking was held by Norway ($X), with a 20% share of total exports. It was followed by Germany, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +124.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (-42.0% per year) and Germany (+148.8% per year).

Export Prices by Country

In 2022, the average export price for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA amounted to $X per unit, therefore, remained relatively stable against the previous year. Overall, the export price, however, faced a deep contraction. The growth pace was the most rapid in 2021 when the average export price increased by 1,978%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the 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 Norway ($X per unit), while the average price for exports to Sweden ($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 Norway (+589.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 1 kVA to 16 kVA

Imports into Sri Lanka

In 2022, approx. X units of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA were imported into Sri Lanka; which is down by -40% against 2021. In general, imports recorded a deep reduction. The pace of growth appeared the most rapid in 2015 with an increase of 434% against the previous year. Over the period under review, imports of attained the maximum at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, imports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA shrank significantly to $X in 2022. Over the period under review, imports continue to indicate a abrupt decrease. The growth pace was the most rapid in 2021 with an increase of 401% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X units) constituted the largest supplier of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA to Sri Lanka, accounting for a 49% share of total imports. Moreover, imports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA from India exceeded the figures recorded by the second-largest supplier, the UK (X units), threefold. The third position in this ranking was held by South Korea (X units), with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India stood at -10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-12.0% per year) and South Korea (+1.4% per year).

In value terms, the largest electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA suppliers to Sri Lanka were China ($X), India ($X) and the UK ($X), together comprising 84% of total imports.

Among the main suppliers, China, with a CAGR of -4.3%, 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 a decline.

Import Prices by Country

In 2022, the average import price for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA amounted to $X per unit, remaining stable against the previous year. Over the period under review, the import price, however, recorded a deep contraction. The pace of growth appeared the most rapid in 2013 an increase of 173% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average 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 ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+14.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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