Republic of Korea: Market for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under 1 kVA 2024

Market Size for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under 1 kVA in Republic of Korea

The South Korean market for electrical transformers with liquid dielectric, of power handling capacity under X kVA rose notably to $X in 2022, increasing by X% against the previous year. Overall, the total consumption indicated noticeable growth 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, consumption decreased by X% against 2020 indices. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Production of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity under X kVA in Republic of Korea

In value terms, production of electrical transformers with liquid dielectric, of power handling capacity under X kVA expanded to $X in 2022 estimated in export price. In general, the total production indicated perceptible growth 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Production of peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

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

Exports from Republic of Korea

In 2022, the amount of electrical transformers with liquid dielectric, of power handling capacity under X kVA exported from South Korea declined sharply to X units, which is down by X% on 2021 figures. Overall, exports showed a deep setback. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of electrical transformers with liquid dielectric, of power handling capacity under X kVA contracted modestly to $X in 2022. Over the period under review, exports continue to indicate a mild curtailment. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports of hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

China (X units) was the main destination for exports of electrical transformers with liquid dielectric, of power handling capacity under X kVA from South Korea, accounting for a X% share of total exports. Moreover, exports of electrical transformers with liquid dielectric, of power handling capacity under X kVA to China exceeded the volume sent to the second major destination, Thailand (X units), more than tenfold. Vietnam (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Vietnam (X% per year).

In value terms, the largest markets for electrical transformers with liquid dielectric, of power handling capacity under X kVA exported from South Korea were China ($X), Vietnam ($X) and the United States ($X), with a combined X% share of total exports.

Among the main countries of destination, Vietnam, 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 2022, the average export price for electrical transformers with liquid dielectric, of power handling capacity under X kVA amounted to $X per unit, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 ($X per unit), while the average price for exports to China ($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 the United States (X%), while the prices for the other major destinations experienced a decline.

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

Imports into Republic of Korea

In 2022, purchases abroad of electrical transformers with liquid dielectric, of power handling capacity under X kVA increased by X% to X units, rising for the second year in a row after three years of decline. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by X%. Imports peaked in 2022 and are 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 to $X in 2022. Overall, imports, however, recorded a mild contraction. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest electrical transformers with liquid dielectric, of power handling capacity under X kVA supplier to South Korea, with a X% share of total imports. Moreover, imports of electrical transformers with liquid dielectric, of power handling capacity under X kVA from China exceeded the figures recorded by the second-largest supplier, the United States (X units), fourfold. Vietnam (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Vietnam (X% per year).

In value terms, China ($X) constituted the largest supplier of electrical transformers with liquid dielectric, of power handling capacity under X kVA to South Korea, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the average import price for electrical transformers with liquid dielectric, of power handling capacity under X kVA amounted to $X per unit, reducing by X% against the previous year. In general, the import price recorded a mild reduction. The most prominent rate of growth was recorded in 2014 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform