Vietnam: Market for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under 1 kVA 2025

Market Size for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under 1 kVA in Vietnam

In 2022, the Vietnamese market for electrical transformers with liquid dielectric, of power handling capacity under X kVA was finally on the rise to reach $X after two years of decline. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Production of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under X kVA in Vietnam

In value terms, production of electrical transformers with liquid dielectric, of power handling capacity under X kVA fell sharply to $X in 2022 estimated in export price. In general, production, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by 343% against the previous year. Over the period under review, production of attained the maximum level at $X in 2021, and then declined dramatically in the following year.

Exports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under 1 kVA

Exports from Vietnam

In 2022, after three years of growth, there was significant decline in overseas shipments of electrical transformers with liquid dielectric, of power handling capacity under X kVA, when their volume decreased by -45.1% to X units. Overall, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 1,909%. Over the period under review, the exports of reached the maximum at X units in 2021, and then fell sharply in the following year.

In value terms, exports of electrical transformers with liquid dielectric, of power handling capacity under X kVA stood at $X in 2022. In general, exports, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2017 when exports increased by 33% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

China (X units) was the main destination for exports of electrical transformers with liquid dielectric, of power handling capacity under X kVA from Vietnam, accounting for a 42% share of total exports. Moreover, exports of electrical transformers with liquid dielectric, of power handling capacity under X kVA to China exceeded the volume sent to the second major destination, Mexico (X units), twofold. Hong Kong SAR (X units) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled +66.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+76.2% per year) and Hong Kong SAR (+59.0% per year).

In value terms, the largest markets for electrical transformers with liquid dielectric, of power handling capacity under X kVA exported from Vietnam were China ($X), Thailand ($X) and the United States ($X), with a combined 52% share of total exports. Hong Kong SAR, Malaysia, Singapore, India and Mexico lagged somewhat behind, together comprising a further 21%.

In terms of the main countries of destination, Mexico, with a CAGR of +48.7%, 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

The average export price for electrical transformers with liquid dielectric, of power handling capacity under X kVA stood at $X per unit in 2022, rising by 83% against the previous year. In general, the export price, however, faced a significant decrease. Over the period under review, the average export prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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 Thailand ($X per unit), while the average price for exports to Mexico (less than $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 Mexico (-15.4%), while the prices for the other major destinations experienced a decline.

Imports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under 1 kVA

Imports into Vietnam

After four years of growth, purchases abroad of electrical transformers with liquid dielectric, of power handling capacity under X kVA decreased by -38.3% to X units in 2022. Overall, imports, however, continue to indicate prominent growth. The pace of growth was the most pronounced in 2021 when imports increased by 329% against the previous year. As a result, imports attained the peak of X units, and then declined significantly in the following year.

In value terms, imports of electrical transformers with liquid dielectric, of power handling capacity under X kVA totaled $X in 2022. Over the period under review, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -0.4% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of 32%. Over the period under review, imports of hit record highs at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electrical transformers with liquid dielectric, of power handling capacity under X kVA to Vietnam, with a 76% share of total imports. Moreover, imports of electrical transformers with liquid dielectric, of power handling capacity under X kVA from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), fourfold.

From 2012 to 2022, the average annual growth rate of volume from China stood at +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+25.2% per year) and Singapore (+20.2% per year).

In value terms, China ($X) constituted the largest supplier of electrical transformers with liquid dielectric, of power handling capacity under X kVA to Vietnam, comprising 85% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 0.6% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+9.3% per year) and Singapore (-7.3% per year).

Import Prices by Country

The average import price for electrical transformers with liquid dielectric, of power handling capacity under X kVA stood at $X per unit in 2022, increasing by 63% against the previous year. Over the period under review, the import price, however, showed a drastic downturn. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 Hong Kong SAR (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-6.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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