Republic of Korea - Electrical Transformers - Market Analysis, Forecast, Size, Trends and Insights
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View PricingElectrical Transformer Price in South Korea - 2022
Contents:
- Electrical Transformer Price in South Korea (FOB) - 2022
- Electrical Transformer Price in South Korea (CIF) - 2022
- Electrical Transformer Exports in South Korea
- Electrical Transformer Imports in South Korea
Electrical Transformer Price in South Korea (FOB) - 2022
In 2022, the average electrical transformer export price amounted to $1.7 per unit, surging by 93% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt slump. The export price peaked at $26 per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($4.7 per unit), while the average price for exports to Mexico ($0.1 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (-15.6%), while the prices for the other major destinations experienced a decline.
Electrical Transformer Price in South Korea (CIF) - 2022
In 2022, the average electrical transformer import price amounted to $10 per unit, growing by 77% against the previous year. Overall, the import price continues to indicate a buoyant increase. The growth pace was the most rapid in 2017 when the average import price increased by 103%. As a result, import price reached the peak level of $29 per unit. From 2018 to 2022, the average import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($553 per unit), while the price for Taiwan (Chinese) ($7.3 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+62.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Electrical Transformer Exports in South Korea
After three years of growth, shipments abroad of electrical transformers decreased by -45.1% to 315M units in 2022. Overall, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 849%. As a result, the exports attained the peak of 574M units, and then declined rapidly in the following year.
In value terms, electrical transformer exports expanded sharply to $547M in 2022. In general, exports recorded a pronounced curtailment. Over the period under review, the exports reached the peak figure at $617M in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
| Export of Electrical Transformer in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 23.2 | 32.2 | 11.8 | 26.5 | 4.5% |
| Thailand | 17.6 | 14.8 | 13.1 | 15.5 | -4.1% |
| China | 23.7 | 34.0 | 13.0 | 14.5 | -15.1% |
| Mexico | 0.8 | 0.8 | 1.0 | 1.4 | 20.5% |
| Others | 552 | 496 | 477 | 489 | -4.0% |
| Total | 617 | 578 | 516 | 547 | -3.9% |
Top Export Markets for Electrical Transformer from South Korea in 2022:
- China (115.7M units)
- Thailand (37.9M units)
- Mexico (12.7M units)
- Vietnam (5.6M units)
Electrical Transformer Imports in South Korea
After three years of growth, supplies from abroad of electrical transformers decreased by -37.5% to 20M units in 2022. In general, imports, however, recorded significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 198% against the previous year. As a result, imports reached the peak of 33M units, and then fell sharply in the following year.
In value terms, electrical transformer imports amounted to $212M in 2022. The total import value increased at an average annual rate of +3.7% from 2019 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 22% against the previous year. As a result, imports reached the peak of $232M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
| Import of Electrical Transformer in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 95.5 | 108 | 102 | 104 | 2.9% |
| Japan | 23.9 | 22.3 | 39.9 | 31.1 | 9.2% |
| Vietnam | 6.7 | 8.3 | 9.3 | 11.5 | 19.7% |
| United States | 14.7 | 17.1 | 8.4 | 8.6 | -16.4% |
| Germany | 7.4 | 10.5 | 6.7 | 7.0 | -1.8% |
| Indonesia | 2.3 | 4.4 | 3.1 | 3.8 | 18.2% |
| Philippines | 2.3 | 2.7 | 3.4 | 2.3 | 0.0% |
| Taiwan (Chinese) | 0.8 | 1.2 | 0.7 | 0.8 | 0.0% |
| Others | 36.2 | 57.1 | 18.4 | 42.7 | 5.7% |
| Total | 190 | 232 | 192 | 212 | 3.7% |
Top Suppliers of Electrical Transformer to South Korea in 2022:
- Philippines (undefinedM units)
- China (1.4M units)
- United States (0.4M units)
- Taiwan (Chinese) (0.1M units)
- Indonesia (0.1M units)
- Japan (0.1M units)
- Vietnam (0.1M units)
- Germany (0.1M units)
This report provides an in-depth analysis of the electrical transformer market in Republic of Korea. 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 2030.
Product coverage:
- Prodcom 27114120 - Liquid dielectric transformers having a power handling capacity . .650 kVA
- Prodcom 27114150 - Liquid dielectric transformers having a power handling capacity > .650 kVA but . .10 .000 kVA
- Prodcom 27114180 - Liquid dielectric transformers having a power handling capacity > .10 .000 kVA
- Prodcom 27114220 - Measuring transformers having a power handling capacity . 1 kVA (including for voltage measurement)
- Prodcom 27114240 - Other transformers, n.e.c., having a power handling capacity. 1 kVA
- Prodcom 27114260 - Other transformers, having a power handling capacity > 1 kVA but . .16 kVA
- Prodcom 27114330 - Transformers, n.e.c., having a power handling capacity > .16 kVA but . .500 kVA
- Prodcom 27114380 - Transformers, n.e.c., having a power handling capacity > .500 kVA
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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