Asia-Pacific: Market for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under 1 kVA 2023

Market Size for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under 1 kVA in Asia-Pacific

For the fourth consecutive year, the Asia-Pacific market for electrical transformers with liquid dielectric, of power handling capacity under X kVA recorded decline in sales value, which decreased by -12% to $X in 2022. In general, consumption, however, continues to indicate a pronounced reduction. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Production of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under X kVA in Asia-Pacific

In value terms, production of electrical transformers with liquid dielectric, of power handling capacity under X kVA dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when the production volume increased by 15%. As a result, production attained the peak level of $X, and then reduced in the following year.

Exports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under 1 kVA

Exports in Asia-Pacific

For the fourth year in a row, Asia-Pacific recorded growth in shipments abroad of electrical transformers with liquid dielectric, of power handling capacity under X kVA, which increased by 29% to X units in 2022. In general, exports showed a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 1,033%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, exports of electrical transformers with liquid dielectric, of power handling capacity under X kVA expanded modestly to $X in 2022. The total export value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 15%. Over the period under review, the exports of attained the maximum in 2022 and are likely to see steady growth in years to come.

Exports by Country

In 2022, China (X units) was the key exporter of electrical transformers with liquid dielectric, of power handling capacity under X kVA, committing 45% of total exports. It was distantly followed by Hong Kong SAR (X units), Thailand (X units), Singapore (X units) and Malaysia (X units), together mixing up a 36% share of total exports. The following exporters - South Korea (X units) and Vietnam (X units) - each amounted to an 8.6% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to electrical transformers with liquid dielectric, of power handling capacity under X kVA exports from China stood at +50.2%. At the same time, Vietnam (+65.4%), Hong Kong SAR (+40.4%), Singapore (+37.6%), Thailand (+24.6%), Malaysia (+14.5%) and South Korea (+14.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +65.4% from 2012-2022. From 2012 to 2022, the share of China, Hong Kong SAR, Vietnam and Singapore increased by +32, +7.7, +3.8 and +1.7 percentage points, respectively.

In value terms, China ($X) remains the largest electrical transformers with liquid dielectric, of power handling capacity under X kVA supplier in Asia-Pacific, comprising 61% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 21% share of total exports. It was followed by Vietnam, with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +3.9%. In the other countries, the average annual rates were as follows: Hong Kong SAR (-1.4% per year) and Vietnam (+6.6% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, which is down by -20.9% against the previous year. Overall, the export price faced a sharp decline. The growth pace was the most rapid in 2016 when the export price increased by 36% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (-16.4%), while the other leaders experienced a decline in the export price figures.

Imports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under 1 kVA

Imports in Asia-Pacific

In 2022, supplies from abroad of electrical transformers with liquid dielectric, of power handling capacity under X kVA increased by 9.1% to X units, rising for the fifth consecutive year after two years of decline. Overall, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 411% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, imports of electrical transformers with liquid dielectric, of power handling capacity under X kVA contracted slightly to $X in 2022. The total import value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 18% against the previous year. As a result, imports reached the peak of $X, and then contracted modestly in the following year.

Imports by Country

The purchases of the five major importers of electrical transformers with liquid dielectric, of power handling capacity under X kVA, namely Hong Kong SAR, China, Singapore, Japan and Malaysia, represented more than two-thirds of total import. India (X units) ranks next in terms of the total imports with a 5.9% share, followed by Thailand (4.9%) and Vietnam (4.6%).

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +52.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest electrical transformers with liquid dielectric, of power handling capacity under X kVA importing markets in Asia-Pacific were Hong Kong SAR ($X), China ($X) and Japan ($X), with a combined 54% share of total imports. Thailand, India, Singapore, Vietnam and Malaysia lagged somewhat behind, together accounting for a further 28%.

In terms of the main importing countries, Thailand, with a CAGR of +10.9%, recorded the highest growth rate of 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

In 2022, the import price in Asia-Pacific amounted to $X per unit, declining by -10.8% against the previous year. In general, the import price faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when the import price increased by 52%. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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