Thailand: 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 Thailand

The Thai market for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA surged to $X in 2022, jumping by 19% against the previous year. Over the period under review, consumption enjoyed a significant increase. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in the near future.

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

In value terms, production of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA soared to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. 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 over 500 kVA

Exports from Thailand

For the fourth consecutive year, Thailand recorded growth in shipments abroad of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA, which increased by 77% to X units in 2022. In general, exports recorded significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 25,235%. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, exports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA surged to $X in 2022. Over the period under review, exports, however, recorded a deep reduction. The pace of growth was the most pronounced in 2017 with an increase of 67% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X units) was the main destination for exports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA from Thailand, accounting for a 59% share of total exports. Moreover, exports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA to Japan exceeded the volume sent to the second major destination, Slovakia (X units), sevenfold. The third position in this ranking was taken by the Netherlands (X units), with an 8% share.

From 2012 to 2022, the average annual growth rate of volume to Japan amounted to +133.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+1,041.6% per year) and the Netherlands (+158.9% per year).

In value terms, Australia ($X) remains the key foreign market for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA exports from Thailand, comprising 26% of total exports. The second position in the ranking was held by Slovakia ($X), with a 9.3% share of total exports. It was followed by Japan, with an 8.3% share.

From 2012 to 2022, the average annual growth rate of value to Australia amounted to +1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+261.4% per year) and Japan (-14.4% per year).

Export Prices by Country

The average export price for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA stood at $X per unit in 2022, waning by -20.8% against the previous year. In general, the export price recorded a dramatic shrinkage. The most prominent rate of growth was recorded in 2016 when the average export price increased by 12% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the average export prices remained at a somewhat 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 Norway ($X per unit), while the average price for exports to the Netherlands ($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 (+3,606.0%), 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 Thailand

In 2022, purchases abroad of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA increased by 25% to X units, rising for the fourth year in a row after three years of decline. Overall, imports continue to indicate a significant expansion. The growth pace was the most rapid in 2020 when imports increased by 21,093% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, imports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA surged to $X in 2022. Over the period under review, imports posted a resilient expansion. The growth pace was the most rapid in 2013 when imports increased by 193%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA to Thailand, with a 80% share of total imports. Moreover, imports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. Mexico (X units) ranked third in terms of total imports with a 2.3% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +179.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+234.2% per year) and Mexico (+262.9% per year).

In value terms, China ($X) constituted the largest supplier of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA to Thailand, comprising 75% of total imports. The second position in the ranking was held by the United States ($X), with a 10% share of total imports. It was followed by Mexico, with a 0.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+41.4% per year) and Mexico (+60.1% per year).

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, falling by -3.3% against the previous year. Over the period under review, the import price recorded a dramatic curtailment. The growth pace was the most rapid in 2016 when the average import price increased by 97%. The import price peaked 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 the United States ($X per unit), while the price for Cameroon ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-57.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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