Europe: Electrical Transformer Market 2024

Electrical Transformer Market Size in Europe

The Europe electrical transformer market reached $X.6B in 2023, remaining constant against the previous year. In general, consumption enjoyed measured growth. Over the period under review, the market reached the peak level at $X.1B in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Electrical Transformer Production in Europe

In value terms, electrical transformer production fell modestly to $X in 2023 estimated in export price. Over the period under review, production, however, recorded a mild curtailment. The pace of growth was the most pronounced in 2022 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Electrical Transformer Exports

Exports in Europe

In 2023, shipments abroad of electrical transformers increased by X% to X units, rising for the third year in a row after two years of decline. The total export volume 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 in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X units in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, electrical transformer exports soared 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. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany was the major exporter of electrical transformers in Europe, with the volume of exports recording X units, which was approx. X% of total exports in 2023. The Netherlands (X units) ranks second in terms of the total exports with a X% share, followed by Romania (X%), France (X%) and Italy (X%). Slovakia (X units), Belgium (X units), the Czech Republic (X units), Hungary (X units), Austria (X units), Spain (X units), Bulgaria (X units) and Poland (X units) followed a long way behind the leaders.

Germany experienced a relatively flat trend pattern with regard to volume of exports of electrical transformers. At the same time, the Netherlands (X%), Bulgaria (X%), Belgium (X%), France (X%), Poland (X%), Romania (X%), Hungary (X%), Slovakia (X%), Spain (X%) and Austria (X%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in Europe, with a CAGR of X% from 2012-2023. By contrast, the Czech Republic (X%) and Italy (X%) illustrated a downward trend over the same period. The Netherlands (X p.p.), Belgium (X p.p.), France (X p.p.) and Bulgaria (X p.p.) significantly strengthened its position in terms of the total exports, while the Czech Republic, Italy and Germany saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X), Italy ($X) and Poland ($X) appeared to be the countries with the highest levels of exports in 2023, together accounting for X% of total exports. Austria, Spain, the Netherlands, France, the Czech Republic, Hungary, Bulgaria, Belgium, Romania and Slovakia lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Bulgaria, 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

In 2023, the export price in Europe amounted to $X per unit, surging by X% against the previous year. Over the period under review, the export price, however, saw a slight shrinkage. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 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 Poland ($X per unit), while Romania ($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 Czech Republic (X%), while the other leaders experienced more modest paces of growth.

Electrical Transformer Imports

Imports in Europe

In 2023, after two years of growth, there was significant decline in supplies from abroad of electrical transformers, when their volume decreased by X% to X units. Total imports indicated a buoyant expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Over the period under review, imports reached the maximum at X units in 2022, and then fell in the following year.

In value terms, electrical transformer imports soared to $X in 2023. Total imports indicated a pronounced 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, imports increased by X% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2023, Germany (X units), distantly followed by Hungary (X units), Poland (X units), France (X units), Austria (X units), Spain (X units), Italy (X units) and the Netherlands (X units) were the key importers of electrical transformers, together achieving X% of total imports. The UK (X units), the Czech Republic (X units), Slovakia (X units), Romania (X units) and Russia (X units) held a relatively small share of total imports.

From 2012 to 2023, average annual rates of growth with regard to electrical transformer imports into Germany stood at X%. At the same time, Hungary (X%), Spain (X%), Russia (X%), the Netherlands (X%), the Czech Republic (X%), Slovakia (X%), France (X%), Poland (X%), the UK (X%) and Romania (X%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing importer imported in Europe, with a CAGR of X% from 2012-2023. Austria and Italy experienced a relatively flat trend pattern. From 2012 to 2023, the share of Hungary, Germany, Spain and the Netherlands increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest electrical transformer importing markets in Europe were Germany ($X), the UK ($X) and Spain ($X), with a combined X% share of total imports. France, Russia, Italy, the Netherlands, Poland, Austria, the Czech Republic, Romania, Hungary and Slovakia lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, the Netherlands, with a CAGR of X%, saw the highest rates of growth with regard to 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 Europe stood at $X per unit in 2023, increasing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

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

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

Source: IndexBox Platform