South-Eastern Asia: Electrical Transformer Market 2024

Electrical Transformer Market Size in South-Eastern Asia

The Southeast Asian electrical transformer market stood at $X.2B in 2023, standing approx. at the previous year. Overall, consumption showed a strong expansion. The level of consumption peaked in 2023 and is expected to retain growth in years to come.

Electrical Transformer Production in South-Eastern Asia

In value terms, electrical transformer production amounted to $X.4B in 2023 estimated in export price. In general, production, however, recorded a noticeable downturn. 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 remained at a lower figure.

Electrical Transformer Exports

Exports in South-Eastern Asia

In 2023, approx. X units of electrical transformers were exported in South-Eastern Asia; shrinking by X% against 2022. Over the period under review, exports recorded a noticeable decrease. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, electrical transformer exports dropped to $X in 2023. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked at $X in 2022, and then reduced in the following year.

Exports by Country

Malaysia (X units) and Thailand (X units) prevails in exports structure, together constituting X% of total exports. Singapore (X units) ranks next in terms of the total exports with a X% share, followed by Vietnam (X%). Myanmar (X units), Lao People's Democratic Republic (X units) and the Philippines (X units) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Myanmar (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Malaysia ($X) and Vietnam ($X) were the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Singapore, the Philippines, Myanmar and Lao People's Democratic Republic lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Myanmar, 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 export price in South-Eastern Asia stood at $X per unit in 2023, growing by X% against the previous year. Export price indicated a prominent increase from 2012 to 2023: its price 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, electrical transformer export price increased by X% against 2019 indices. The growth pace was the most rapid in 2022 when the export price increased by X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in the immediate term.

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 Vietnam ($X per unit), while Lao People's Democratic Republic ($X per unit) was amongst the lowest.

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

Electrical Transformer Imports

Imports in South-Eastern Asia

In 2023, after five years of growth, there was decline in supplies from abroad of electrical transformers, when their volume decreased by X% to X units. Over the period under review, imports, however, recorded a modest increase. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. The volume of import peaked at X units in 2022, and then reduced in the following year.

In value terms, electrical transformer imports totaled $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2022 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2023 and are likely to see steady growth in years to come.

Imports by Country

Thailand was the major importer of electrical transformers in South-Eastern Asia, with the volume of imports amounting to X units, which was near X% of total imports in 2023. Vietnam (X units) ranks second in terms of the total imports with an X% share, followed by Malaysia (X%), Singapore (X%) and Indonesia (X%). The Philippines (X units) held a minor share of total imports.

From 2012 to 2023, average annual rates of growth with regard to electrical transformer imports into Thailand stood at X%. At the same time, Vietnam (X%), the Philippines (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, Indonesia (X%) and Singapore (X%) illustrated a downward trend over the same period. Thailand (X p.p.) and Vietnam (X p.p.) significantly strengthened its position in terms of the total imports, while Indonesia and Singapore saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest electrical transformer importing markets in South-Eastern Asia were Thailand ($X), Vietnam ($X) and Malaysia ($X), with a combined X% share of total imports. The Philippines, Indonesia and Singapore lagged somewhat behind, together accounting for a further X%.

The Philippines, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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 South-Eastern Asia stood at $X per unit in 2023, therefore, remained relatively stable against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2018 to 2023, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was the Philippines ($X per unit), while Thailand ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform