Scandinavia: Market for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from 650 kVA to 10000 kVA 2024

Market Size for Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from 650 kVA to 10000 kVA in Scandinavia

In 2023, after two years of growth, there was significant decline in the Scandinavia market for electrical transformers with liquid dielectric, of power handling capacity from X kVA to X kVA, when its value decreased by X% to $X. Overall, consumption saw a mild shrinkage. As a result, consumption attained the peak level of $X, and then fell significantly in the following year.

Production of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from X kVA to X kVA in Scandinavia

In value terms, production of electrical transformers with liquid dielectric, of power handling capacity from X kVA to X kVA surged to $X in 2023 estimated in export price. In general, production, however, showed a deep downturn. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, production of attained the peak level at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Exports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from 650 kVA to 10000 kVA

Exports in Scandinavia

Exports of electrical transformers with liquid dielectric, of power handling capacity from X kVA to X kVA soared to X units in 2023, rising by X% on the previous year's figure. Overall, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports of hit record highs in 2023 and are likely to see gradual growth in years to come.

In value terms, exports of electrical transformers with liquid dielectric, of power handling capacity from X kVA to X kVA shrank notably to $X in 2023. Over the period under review, exports, however, showed a drastic downturn. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports of attained the peak figure at $X in 2015; however, from 2016 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Sweden (X units) represented the largest exporter of electrical transformers with liquid dielectric, of power handling capacity from X kVA to X kVA, constituting X% of total exports. It was distantly followed by Norway (X units), creating a X% share of total exports. Finland (X units) followed a long way behind the leaders.

Sweden was also the fastest-growing in terms of the electrical transformers with liquid dielectric, of power handling capacity from X kVA to X kVA exports, with a CAGR of X% from 2012 to 2023. Norway (X%) and Finland (X%) illustrated a downward trend over the same period. While the share of Sweden (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Finland (X p.p.) and Norway (X p.p.) displayed negative dynamics.

In value terms, Finland ($X) remains the largest electrical transformers with liquid dielectric, of power handling capacity from X kVA to X kVA supplier in Scandinavia, comprising X% of total exports. The second position in the ranking was taken by Sweden ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Finland stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Sweden (X% per year) and Norway (X% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2023, falling by X% against the previous year. Over the period under review, the export price continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2022 to 2023, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Finland ($X per unit), while Sweden ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Electrical Transformers with Liquid Dielectric, of Power Handling Capacity from 650 kVA to 10000 kVA

Imports in Scandinavia

For the fifth year in a row, Scandinavia recorded growth in overseas purchases of electrical transformers with liquid dielectric, of power handling capacity from X kVA to X kVA, which increased by X% to X units in 2023. Overall, imports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2022 when imports increased by X%. Over the period under review, imports of reached the maximum in 2023 and are expected to retain growth in years to come.

In value terms, imports of electrical transformers with liquid dielectric, of power handling capacity from X kVA to X kVA skyrocketed to $X in 2023. Over the period under review, imports showed resilient growth. The most prominent rate of growth was recorded in 2022 with an increase of X%. The level of import peaked in 2023 and is expected to retain growth in the immediate term.

Imports by Country

Sweden was the key importing country with an import of around X units, which resulted at X% of total imports. It was distantly followed by Finland (X units) and Norway (X units), together committing a X% share of total imports.

Sweden was also the fastest-growing in terms of the electrical transformers with liquid dielectric, of power handling capacity from X kVA to X kVA imports, with a CAGR of X% from 2012 to 2023. At the same time, Norway (X%) and Finland (X%) displayed positive paces of growth. While the share of Sweden (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Norway (X p.p.) and Finland (X p.p.) displayed negative dynamics.

In value terms, Sweden ($X) constitutes the largest market for imported electrical transformers with liquid dielectric, of power handling capacity from X kVA to X kVA in Scandinavia, comprising X% of total imports. The second position in the ranking was taken by Finland ($X), with a X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value in Sweden amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Finland (X% per year) and Norway (X% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per unit in 2023, jumping by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. As a result, import price attained the peak level of $X per unit. From 2015 to 2023, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Norway ($X per unit), while Sweden ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Finland (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform