Vietnam: 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 Vietnam

The Vietnamese market for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA reduced notably to $X in 2022, waning by -43.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a precipitous decline. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Exports of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity over 500 kVA

Exports from Vietnam

In 2022, approx. X units of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA were exported from Vietnam; jumping by 436% on the year before. Overall, exports recorded a significant increase. Over the period under review, the exports of hit record highs at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, exports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA soared to $X in 2022. Over the period under review, exports, however, saw a abrupt downturn. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The Philippines (X units) was the main destination for exports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA from Vietnam, accounting for a 83% share of total exports. Moreover, exports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA to the Philippines exceeded the volume sent to the second major destination, Cambodia (X units), fivefold.

From 2019 to 2022, the average annual growth rate of volume to the Philippines amounted to +214.1%.

In value terms, the Philippines ($X) remains the key foreign market for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA exports from Vietnam, comprising 81% of total exports. The second position in the ranking was held by Cambodia ($X), with a 19% share of total exports.

From 2019 to 2022, the average annual growth rate of value to the Philippines totaled +63.9%.

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, dropping by -72.9% against the previous year. Overall, the export price showed a significant contraction. The most prominent rate of growth was recorded in 2021 an increase of 411% against the previous year. As a result, the export price attained the peak level of $X per unit, and then contracted significantly in the following year.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Cambodia ($X per unit), while the average price for exports to the Philippines amounted to $X per unit.

From 2019 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+405.1%), 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 Vietnam

In 2022, supplies from abroad of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA decreased by -3.6% to X units, falling for the second year in a row after two years of growth. Overall, imports faced a abrupt curtailment. The pace of growth was the most pronounced in 2020 with an increase of 28,272%. As a result, imports reached the peak of X units. From 2021 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 over X kVA surged to $X in 2022. Over the period under review, imports, however, recorded pronounced growth. Over the period under review, imports of attained the maximum at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), South Korea (X units) and Austria (X units) were the main suppliers of imports of electrical transformers with non-liquid dielectric, of power handling capacity over X kVA to Vietnam, together comprising 87% of total imports. Taiwan (Chinese), Italy, India, Japan and Germany lagged somewhat behind, together comprising a further 13%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +11.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Austria ($X) constituted the largest electrical transformers with non-liquid dielectric, of power handling capacity over X kVA suppliers to Vietnam, with a combined 86% share of total imports. Taiwan (Chinese), Italy, Japan, Germany and India lagged somewhat behind, together accounting for a further 12%.

India, with a CAGR of +104.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for electrical transformers with non-liquid dielectric, of power handling capacity over X kVA amounted to $X per unit, jumping by 113% against the previous year. In general, the import price saw a significant increase. The most prominent rate of growth was recorded in 2021 an increase of 18,161% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Germany ($X per unit) and India ($X per unit), while the price for Japan ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+27.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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