Belgium: Electrical Transformer Market 2024

Electrical Transformer Market Size in Belgium

In 2022, the Belgian electrical transformer market decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. Overall, consumption recorded a abrupt curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Electrical Transformer Production in Belgium

In value terms, electrical transformer production declined notably to $X in 2022 estimated in export price. In general, production showed a dramatic curtailment. The most prominent rate of growth was recorded in 2019 with an increase of X%. Electrical transformer production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Electrical Transformer Exports

Exports from Belgium

In 2022, the amount of electrical transformers exported from Belgium surged to X units, rising by X% against 2021. Overall, exports enjoyed a buoyant expansion. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, electrical transformer exports surged to $X in 2022. Over the period under review, exports, however, faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by X%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Germany (X units), France (X units) and China (X units) were the main destinations of electrical transformer exports from Belgium, together comprising X% of total exports. Japan, Romania, the Netherlands, Slovakia, Spain, the UK and Italy lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electrical transformer exported from Belgium were Germany ($X), the Netherlands ($X) and Japan ($X), with a combined X% share of total exports. France, Slovakia, China, Romania, Italy, the UK and Spain lagged somewhat behind, together comprising a further X%.

Slovakia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average electrical transformer export price stood at $X per unit in 2022, rising by X% against the previous year. Over the period under review, the export price, however, showed a precipitous decrease. The pace of growth appeared the most rapid in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to China ($X 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 Italy (X%), while the prices for the other major destinations experienced a decline.

Electrical Transformer Imports

Imports into Belgium

In 2022, purchases abroad of electrical transformers increased by X% to X units, rising for the eighth consecutive year after two years of decline. Overall, imports saw a prominent expansion. The growth pace was the most rapid in 2018 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, electrical transformer imports stood at $X in 2022. Over the period under review, total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2017 indices. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the near future.

Imports by Country

China (X units), Germany (X units) and the Netherlands (X units) were the main suppliers of electrical transformer imports to Belgium, together comprising X% of total imports.

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

In value terms, Germany ($X) constituted the largest supplier of electrical transformers to Belgium, comprising X% of total imports. The second position in the ranking was taken by France ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average electrical transformer import price amounted to $X per unit, waning by X% against the previous year. In general, the import price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2013 an increase of X%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform