Overview of the Global Market for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under 1 kVA

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

The global market for electrical transformers with liquid dielectric, of power handling capacity under X kVA declined to $X in 2022, reducing by -2.8% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the market value increased by 7.8%. Global consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

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

In value terms, production of electrical transformers with liquid dielectric, of power handling capacity under X kVA fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when the production volume increased by 21% against the previous year. As a result, production reached the peak level of $X, and then reduced in the following year.

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

Exports

In 2022, the amount of electrical transformers with liquid dielectric, of power handling capacity under X kVA exported worldwide skyrocketed to X units, jumping by 18% compared with the previous year. Overall, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2021 with an increase of 747% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, exports of electrical transformers with liquid dielectric, of power handling capacity under X kVA rose modestly to $X in 2022. The total export value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 10% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China was the largest exporter of electrical transformers with liquid dielectric, of power handling capacity under X kVA in the world, with the volume of exports amounting to X units, which was approx. 33% of total exports in 2022. Hong Kong SAR (X units) ranks second in terms of the total exports with a 13% share, followed by Thailand (6.9%). The following exporters - the Netherlands (X units), Singapore (X units), Malaysia (X units), Mexico (X units), South Korea (X units), Italy (X units), Vietnam (X units), India (X units), Japan (X units) and the Czech Republic (X units) - together made up 32% of total exports.

Exports from China increased at an average annual rate of +50.2% from 2012 to 2022. At the same time, Vietnam (+65.4%), the Netherlands (+50.7%), India (+44.0%), Hong Kong SAR (+40.4%), Singapore (+37.6%), Mexico (+32.6%), the Czech Republic (+28.8%), Italy (+27.5%), Thailand (+24.6%), Japan (+19.6%), Malaysia (+14.5%) and South Korea (+14.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +65.4% from 2012-2022. While the share of China (+26 p.p.), Hong Kong SAR (+7.2 p.p.), the Netherlands (+3.3 p.p.), Vietnam (+2.9 p.p.), India (+2 p.p.) and Singapore (+1.8 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Thailand (-2.8 p.p.), Japan (-2.8 p.p.), South Korea (-7.7 p.p.) and Malaysia (-8.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest electrical transformers with liquid dielectric, of power handling capacity under X kVA supplier worldwide, comprising 37% of global exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 13% share of global exports. It was followed by Italy, with a 2.7% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +3.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (-1.4% per year) and Italy (-0.8% per year).

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, waning by -12.8% against the previous year. Overall, the export price continues to indicate a sharp curtailment. The pace of growth appeared the most rapid in 2016 when the average export price increased by 16%. As a result, the export price attained the peak level of $X per unit. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (-16.4%), while the other global leaders experienced a decline in the export price figures.

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

Imports

In 2022, purchases abroad of electrical transformers with liquid dielectric, of power handling capacity under X kVA increased by 2.9% to X units, rising for the fifth year in a row after two years of decline. Over the period under review, imports recorded resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 323%. Over the period under review, global imports of attained the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, imports of electrical transformers with liquid dielectric, of power handling capacity under X kVA expanded remarkably to $X in 2022. The total import value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2021 with an increase of 14% against the previous year. Over the period under review, global imports of attained the peak figure in 2022 and are likely to see steady growth in years to come.

Imports by Country

The purchases of the nine major importers of electrical transformers with liquid dielectric, of power handling capacity under X kVA, namely Hungary, Hong Kong SAR, China, Singapore, the Netherlands, Mexico, Japan, Italy and Malaysia, represented more than two-thirds of total import. Germany (X units), India (X units), Thailand (X units) and Vietnam (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +57.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), Germany ($X) and China ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 26% share of global imports. Mexico, Japan, Thailand, India, Italy, Singapore, Vietnam, Malaysia, the Netherlands and Hungary lagged somewhat behind, together accounting for a further 29%.

In terms of the main importing countries, Thailand, with a CAGR of +10.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for electrical transformers with liquid dielectric, of power handling capacity under X kVA amounted to $X per unit, surging by 2.1% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when the average import price increased by 34% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while Hungary ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.5%), while the other global leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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