Asia-Pacific: Electrical Transformer Market 2024

Electrical Transformer Market Size in Asia-Pacific

The Asia-Pacific electrical transformer market totaled $X.8B in 2023, almost unchanged from the previous year. Over the period under review, consumption, however, recorded pronounced growth. The level of consumption peaked in 2023 and is likely to continue growth in years to come.

Electrical Transformer Production in Asia-Pacific

In value terms, electrical transformer production amounted to $X.7B in 2023 estimated in export price. Overall, production continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. The level of production peaked at $X.1B in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Electrical Transformer Exports

Exports in Asia-Pacific

In 2023, shipments abroad of electrical transformers decreased by X% to X units, falling for the second consecutive year after two years of growth. Over the period under review, exports recorded a slight curtailment. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, electrical transformer exports expanded markedly to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2023 and are likely to see steady growth in years to come.

Exports by Country

China was the key exporting country with an export of about X units, which resulted at X% of total exports. It was distantly followed by Hong Kong SAR (X units), mixing up a X% share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of electrical transformers. Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Hong Kong SAR (X p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest electrical transformer supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a X% share of total exports.

In China, electrical transformer exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2023, growing by X% against the previous year. Overall, the export price enjoyed a pronounced increase. The pace of growth appeared the most rapid in 2015 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was China ($X per unit), while Hong Kong SAR amounted to $X per unit.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%).

Electrical Transformer Imports

Imports in Asia-Pacific

In 2023, overseas purchases of electrical transformers decreased by X% to X units for the first time since 2020, thus ending a two-year rising trend. Overall, imports recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, electrical transformer imports declined to $X in 2023. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. The level of import peaked at $X in 2022, and then contracted in the following year.

Imports by Country

In 2023, Hong Kong SAR (X units) was the largest importer of electrical transformers, committing X% of total imports. India (X units) held the second position in the ranking, followed by Thailand (X units), China (X units), Vietnam (X units), Taiwan (Chinese) (X units) and Malaysia (X units). All these countries together held near X% share of total imports.

From 2012 to 2023, average annual rates of growth with regard to electrical transformer imports into Hong Kong SAR stood at X%. At the same time, Vietnam (X%), India (X%), Taiwan (Chinese) (X%), Thailand (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2023. By contrast, China (X%) illustrated a downward trend over the same period. While the share of India (X p.p.), Thailand (X p.p.), Vietnam (X p.p.), Taiwan (Chinese) (X p.p.) and Malaysia (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of China (X p.p.) and Hong Kong SAR (X p.p.) displayed negative dynamics.

In value terms, Hong Kong SAR ($X), Thailand ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2023, together comprising X% of total imports. China, India, Malaysia and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Taiwan (Chinese), with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2023, with an increase of X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2020 when the import price increased by X%. Over the period under review, import prices attained the peak figure in 2023 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform