Vietnam: Market for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 16 kVA to 500 kVA 2025

Market Size for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 16 kVA to 500 kVA in Vietnam

The Vietnamese market for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA declined rapidly to $X in 2022, with a decrease of -35.9% against the previous year. Over the period under review, consumption, however, showed a remarkable increase. As a result, consumption attained the peak level of $X, and then reduced rapidly in the following year.

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 surged to $X in 2022 estimated in export price. Overall, production, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2020 with an increase of 331% against the previous year. Production of peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 16 kVA to 500 kVA

Exports from Vietnam

In 2022, shipments abroad of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA decreased by -42.3% to X units for the first time since 2017, thus ending a four-year rising trend. In general, exports, however, saw a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of 550% against the previous year. As a result, the exports attained the peak of X units, and then contracted markedly in the following year.

In value terms, exports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA fell to $X in 2022. Overall, total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +8.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +8.0% against 2020 indices. The pace of growth was the most pronounced in 2013 when exports increased by 119% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand (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 Vietnam, with a 77% share of total exports. Moreover, exports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA to Thailand exceeded the volume sent to the second major destination, Australia (X units), more than tenfold. The third position in this ranking was held by Myanmar (X units), with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Thailand amounted to +36.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+7.2% per year) and Myanmar (0.0% per year).

In value terms, the United States ($X) remains the key foreign market for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA exports from Vietnam, comprising 13% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 4.2% share of total exports. It was followed by Thailand, with a 2.6% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +62.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+14.1% per year) and Thailand (+101.9% 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 an increase of 61% against the previous year. Over the period under review, the export price, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2013 an increase of 163% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Armenia ($X per unit), while the average price for exports to Mexico ($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 United States (-9.6%), while the prices for the other major destinations experienced a decline.

Imports of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 16 kVA to 500 kVA

Imports into Vietnam

Imports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA into Vietnam contracted notably to X units in 2022, with a decrease of -40.3% against the previous year. Over the period under review, imports, however, continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2021 with an increase of 413%. As a result, imports attained the peak of X units, and then fell sharply in the following year.

In value terms, imports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA declined to $X in 2022. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 60%. Over the period under review, imports of hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA to Vietnam, accounting for a 71% share of total imports. Moreover, imports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), fourfold. The third position in this ranking was held by India (X units), with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +34.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+108.4% per year) and India (-2.7% per year).

In value terms, China ($X) constituted the largest supplier of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA to Vietnam, comprising 47% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 3.7% share of total imports. It was followed by India, with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled -3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+11.9% per year) and India (+7.2% per year).

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, jumping by 52% against the previous year. In general, the import price, however, recorded a abrupt decline. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+43.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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