U.S.: Electrical Transformer Market 2024

Electrical Transformer Market Size in the U.S.

The U.S. electrical transformer market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, consumption, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2019 when the market value increased by X%. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Electrical Transformer Production in the U.S.

In value terms, electrical transformer production rose significantly to $X in 2022. Overall, production recorded a abrupt decline. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Electrical Transformer Exports

Exports from the U.S.

In 2022, exports of electrical transformers from the United States soared to X units, picking up by X% against the previous year. In general, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, electrical transformer exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Mexico (X units) was the main destination for electrical transformer exports from the United States, accounting for a X% share of total exports. Moreover, electrical transformer exports to Mexico exceeded the volume sent to the second major destination, Canada (X units), fourfold. The third position in this ranking was taken by Hong Kong SAR (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Mexico amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Hong Kong SAR (X% per year).

In value terms, Canada ($X), Mexico ($X) and China ($X) constituted the largest markets for electrical transformer exported from the United States worldwide, together comprising X% of total exports. Malaysia, Singapore, South Korea, Germany, the UK, Hong Kong SAR, Taiwan (Chinese), India, France and the Philippines lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Taiwan (Chinese), with a CAGR of X%, saw the highest growth rate of 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

The average electrical transformer export price stood at $X per unit in 2022, declining by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the average export prices attained the maximum at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to Hong Kong SAR ($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 the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Transformer Imports

Imports into the U.S.

In 2022, electrical transformer imports into the United States surged to X units, growing by X% on 2021. Overall, imports, however, saw a deep setback. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, electrical transformer imports surged to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electrical transformer to the United States, accounting for a X% share of total imports. Moreover, electrical transformer imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X units), fivefold. India (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and India (X% per year).

In value terms, Mexico ($X) constituted the largest supplier of electrical transformers to the United States, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by India, with a X% share.

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

Import Prices by Country

The average electrical transformer import price stood at $X per unit in 2022, with an increase of X% against the previous year. Overall, the import price showed a prominent expansion. The pace of growth was the most pronounced in 2013 when the average import price increased by X%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

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

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

Source: IndexBox Platform

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