Spain: Market for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 16 kVA to 500 kVA 2023

Market Size for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 16 kVA to 500 kVA in Spain

The Spanish market for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA skyrocketed to $X in 2022, jumping by 21% against the previous year. Over the period under review, consumption, however, posted mild growth. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

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

In value terms, production of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA amounted to $X in 2022 estimated in export price. Over the period under review, the total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +12.1% 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 -1.9% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 123%. Over the period under review, production of hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 16 kVA to 500 kVA

Exports from Spain

In 2022, after two years of growth, there was significant decline in overseas shipments of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA, when their volume decreased by -53.8% to X units. Over the period under review, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 7,381% against the previous year. As a result, the exports attained the peak of X units, and then reduced rapidly in the following year.

In value terms, exports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA skyrocketed to $X in 2022. In general, exports saw a relatively flat trend pattern. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

France (X units), Saudi Arabia (X units) and Portugal (X units) were the main destinations of exports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA from Spain, with a combined 60% share of total exports. The United States, Finland, Morocco, Mexico and Norway lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Finland (with a CAGR of +137.6%), while the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Finland ($X) and Portugal ($X) constituted the largest markets for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA exported from Spain worldwide, together comprising 38% of total exports.

Finland, with a CAGR of +93.7%, 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 export price for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA stood at $X per unit in 2022, increasing by 255% against the previous year. Over the period under review, the export price, however, recorded a sharp decrease. The export price peaked at $X per unit in 2019; however, from 2020 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 Finland ($X per unit), while the average price for exports to France ($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 Saudi Arabia (-19.9%), while the prices for the other major destinations experienced a decline.

Imports of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 16 kVA to 500 kVA

Imports into Spain

In 2022, after two years of growth, there was significant decline in overseas purchases of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA, when their volume decreased by -74.2% to X units. In general, imports, however, saw notable growth. The growth pace was the most rapid in 2020 with an increase of 155% against the previous year. Over the period under review, imports of reached the maximum at X units in 2021, and then contracted rapidly in the following year.

In value terms, imports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA expanded rapidly to $X in 2022. Overall, imports, however, saw a prominent expansion. The pace of growth was the most pronounced in 2014 with an increase of 71%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA supplier to Spain, accounting for a 79% share of total imports. Moreover, imports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA from China exceeded the figures recorded by the second-largest supplier, Italy (X units), fivefold. The United States (X units) ranked third in terms of total imports with a 0.6% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +14.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+7.4% per year) and the United States (-22.9% per year).

In value terms, Italy ($X) constituted the largest supplier of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA to Spain, comprising 56% of total imports. The second position in the ranking was held by China ($X), with a 17% share of total imports. It was followed by the United States, with a 1.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy amounted to +39.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.9% per year) and the United States (-1.0% per year).

Import Prices by Country

The average import price for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA stood at $X per unit in 2022, rising by 338% against the previous year. Overall, the import price showed prominent growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: 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 Italy (+29.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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