India: Electrical Transformer Market 2024

Electrical Transformer Market Size in India

The Indian electrical transformer market reached $X in 2023, picking up by X% against the previous year. In general, consumption, however, continues to indicate a abrupt decrease. As a result, consumption attained the peak level of $X. From 2014 to 2023, the growth of the market failed to regain momentum.

Electrical Transformer Production in India

In value terms, electrical transformer production declined to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a abrupt slump. The growth pace was the most rapid in 2022 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Electrical Transformer Exports

Exports from India

In 2023, the amount of electrical transformers exported from India soared to X units, picking up by X% against the previous year. Over the period under review, exports recorded a prominent expansion. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

In value terms, electrical transformer exports surged to $X in 2023. Overall, total exports indicated a buoyant expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X units), Mexico (X units) and the Netherlands (X units) were the main destinations of electrical transformer exports from India, together accounting for X% of total exports. Germany, the United States, the Czech Republic, Spain, Italy, Denmark, Hong Kong SAR, the UK and the Philippines lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the UK ($X) and Italy ($X) were the largest markets for electrical transformer exported from India worldwide, together comprising X% of total exports. Germany, China, Mexico, Spain, the Netherlands, the Czech Republic, the Philippines, Hong Kong SAR and Denmark lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Denmark, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average electrical transformer export price stood at $X per unit in 2023, rising by X% against the previous year. In general, the export price, however, saw a deep downturn. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2023, 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 the UK ($X per unit), while the average price for exports to Denmark ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Transformer Imports

Imports into India

For the third consecutive year, India recorded growth in purchases abroad of electrical transformers, which increased by X% to X units in 2023. In general, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports hit record highs in 2023 and are likely to see gradual growth in the near future.

In value terms, electrical transformer imports amounted to $X in 2023. Overall, imports enjoyed a resilient expansion. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2023 and are likely to continue growth in years to come.

Imports by Country

In 2023, China (X units) constituted the largest electrical transformer supplier to India, with a X% share of total imports. Moreover, electrical transformer imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), eightfold. Vietnam (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (X% per year) and Vietnam (X% per year).

In value terms, China ($X) constituted the largest supplier of electrical transformers to India, comprising X% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with an X% share of total imports. It was followed by Singapore, with a X% share.

From 2012 to 2023, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (X% per year) and Singapore (X% per year).

Import Prices by Country

In 2023, the average electrical transformer import price amounted to $X per unit, falling by X% against the previous year. In general, the import price continues to indicate a deep setback. The pace of growth appeared the most rapid in 2013 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2023, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Hong Kong SAR ($X per unit), while the price for Vietnam ($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 prices for the other major suppliers experienced a decline.

Source: IndexBox Platform