Vietnam: 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 Vietnam

In 2022, the Vietnamese market for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA was finally on the rise to reach $X after two years of decline. Over the period under review, the total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -12.7% against 2019 indices. Consumption of peaked at $X in 2014; however, from 2015 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 Vietnam

In value terms, production of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA soared to $X in 2022 estimated in export price. Overall, the total production indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -30.0% against 2018 indices. The most prominent rate of growth was recorded in 2014 with an increase of 34% against the previous year. Over the period under review, production of reached the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

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

Exports from Vietnam

In 2022, after two years of decline, there was significant growth in shipments abroad of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA, when their volume increased by 43% to X units. Over the period under review, exports showed a temperate expansion. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports 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 soared to $X in 2022. In general, exports, however, recorded a noticeable slump. The most prominent rate of growth was recorded in 2014 when exports increased by 63%. Over the period under review, the exports of reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

China (X units), Thailand (X units) and Singapore (X units) were the main destinations of exports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA from Vietnam, with a combined 78% share of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +271.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X) emerged as the key foreign market for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA exports from Vietnam, comprising 34% of total exports. The second position in the ranking was held by China ($X), with a 12% share of total exports. It was followed by the United States, with a 4.6% share.

From 2012 to 2022, the average annual growth rate of value to France was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+24.3% per year) and the United States (+6.8% per year).

Export Prices by Country

The average export price for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA stood at $X per unit in 2022, with a decrease of -1.9% against the previous year. In general, the export price recorded a deep slump. The pace of growth appeared the most rapid in 2014 an increase of 24% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the average 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 France ($X per unit), while the average price for exports to Thailand (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 Singapore (+6.4%), while the prices for the other major destinations experienced a decline.

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

Imports into Vietnam

In 2022, after two years of decline, there was significant growth in supplies from abroad of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA, when their volume increased by 42% to X units. In general, imports enjoyed a resilient increase. The pace of growth was the most pronounced in 2019 when imports increased by 175% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports of 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 skyrocketed to $X in 2022. Overall, imports showed a buoyant increase. The growth pace was the most rapid in 2016 with an increase of 137% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

China (X units), Malaysia (X units) and Thailand (X units) were the main suppliers of imports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA to Vietnam, together accounting for 100% of total imports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +161.9%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, China ($X) constituted the largest supplier of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA to Vietnam, comprising 61% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 3.4% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+46.6% per year) and Thailand (+18.4% per year).

Import Prices by Country

The average import price for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA stood at $X per unit in 2022, remaining relatively unchanged against the previous year. Over the period under review, the import price showed a pronounced downturn. The growth pace was the most rapid in 2016 an increase of 68% against the previous year. As a result, import price attained the peak level of $X per unit. From 2017 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 Thailand ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+130.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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