U.S. Power, Distribution, And Specialty Transformer Market. Analysis And Forecast to 2025
Update: COVID-19 Impact
Power, Distribution and Specialty Transformer Market - U.S. Power, Distribution, and Specialty Transformer Market Weakens, with only Modest Growth Expected in the Medium Term
Photo: © TheYok / Bigstockphoto
Transformers and power distribution equipment are long-lasting electric utilities, which are essential for supplying new communities with electricity, as well as for replacing outworn equipment.
In 2015, U.S. power, distribution, and specialty transformer market was estimated at about X billion USD. A sharp drop in value occurred in 2009, when the market slipped by X% from its peak of 2008. This trend continued in 2010, with another -X% decline. A weak recovery attempt followed over 2011-2012, until the growth lost momentum. Over the next six years, the market languished near that level, with only minor fluctuations through to 2015.
Domestic industry performance suffered perceptibly from slumps in construction during the financial crisis of 2008-2009. The value of shipments in the industry was estimated at X million USD in 2015. There was a steep decline in 2009, with a further slip in 2010. The year after, the output bounced back slightly and then stood near that level with minor fluctuations through to 2015.
In 2015, U.S. power, distribution, and specialty transformer imports totaled X million USD. After the plunge of 2009, U.S. power, distribution, and specialty transformer imports remained relatively stable with minor fluctuations from 2007 to 2015. However, in 2013-2014, imports slightly declined, bouncing back up by +X% in 2015.
The U.S. remains heavily dependent on the overseas supply of power, distribution, and specialty transformers, with the share of imports in the apparent consumption fluctuating near X% over the period under review.
Globally, the U.S. ranks second in power, distribution, and specialty transformer imports with a X% share (based on USD), following China (X%). Therefore, it continues to be one of the biggest markets for global exporters. On the other hand, the attractiveness of the U.S. market is limited by the low import growth rate.
Mexico was the main supplier of power, distribution, and specialty transformers into the U.S., with a X% share of total U.S. imports in 2015. It was distantly followed by China (X%) and Canada (X%). However, China (+X% per year, ranking second) and Canada (+X% per year, ranking third) were the fastest growing suppliers from 2007 to 2015.
As for exports, they accounted for X% of U.S. power, distribution, and specialty transformer output in 2015. This share remained relatively stable over the period under review. Prior to 2014, exports showed a gradual upward trend with minor fluctuations, until it leveled off to X million USD in 2015. Mexico (X%) and Canada (X%) were the main destinations of U.S. power, distribution, and specialty transformer exports. Given the specificity of the product and the overall export dynamics, the demand for U.S. power, distribution, and specialty transformers in overseas markets is unlikely to serve as a driver of industry growth over the medium term.
Therefore, home demand will be the main contributor to the market growth. Downstream industries, mainly residential and non-residential construction, as well as industrial manufacturing, have experienced a rebound from their recessionary slumps, supporting the demand for power, distribution, and specialty transformers over the past five years.
New housing starts are going to pick up pace over the next three years due to strong employment and easy credit availability. The expansion of settlements will require electrical infrastructure development, which will serve as a direct driver of growth for the power, distribution, and specialty transformer market.
On the other hand, rising output in most of the U.S. industries also advances demand for electric power in production facilities, as well as for heating and conditioning. Easy credit availability also makes an impact by creating favorable conditions for capital investment, particularly into electric infrastructure.
As a result of the conditions mentioned above, U.S. growth in power, distribution, and specialty transformer consumption is expected to accelerate in the medium term. However, due to the relatively long investment and construction periods, only mild growth is expected, as new communities and non-residential facilities do not arise very rapidly. In addition, the replacement of outworked equipment is also likely to take place gradually.
Do you want to know more about the U.S. power, distribution and specialty transformer market? Get the latest trends and insight from our report. It includes a wide range of statistics on
- power, distribution and specialty transformer market share
- power, distribution and specialty transformer prices
- power, distribution and specialty transformer industry
- power, distribution and specialty transformer sales
- power, distribution and specialty transformer market forecast
- power, distribution and specialty transformer price forecast
- key power, distribution and specialty transformer producers
Source: IndexBox AI Platform
This report provides an in-depth analysis of the market for power, distribution and specialty transformer in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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