Vietnam: Market for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 1 kVA to 16 kVA 2023

Market Size for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 1 kVA to 16 kVA in Vietnam

In 2022, the Vietnamese market for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA increased by 16% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.1% 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 -12.7% against 2019 indices. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

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

In value terms, production of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA skyrocketed to $X in 2022 estimated in export price. Over the period under review, the total production indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.3% 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 -30.0% against 2018 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by 34%. Over the period under review, production of attained the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 1 kVA to 16 kVA

Exports from Vietnam

In 2022, shipments abroad of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, exports continue to indicate pronounced growth. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA surged to $X in 2022. Over the period under review, exports, however, continue to indicate a pronounced decrease. The pace of growth appeared the most rapid in 2014 when exports increased by 63% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

China (X units), Thailand (X units) and Singapore (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 Vietnam, together accounting for 80% of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +272.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X) emerged as the key foreign market for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA exports from Vietnam, comprising 34% of total exports. The second position in the ranking was taken by China ($X), with a 12% share of total exports. It was followed by Singapore, with a 3.2% share.

From 2012 to 2022, the average annual growth rate of value to France was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+24.3% per year) and Singapore (-6.3% per year).

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, declining by -1.9% against the previous year. In general, the export price recorded a abrupt contraction. The most prominent rate of growth was recorded in 2014 when the average export price increased by 24% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Thailand (less than $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 Singapore (+6.1%), while the prices for the other major destinations experienced a decline.

Imports of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 1 kVA to 16 kVA

Imports into Vietnam

In 2022, after two years of decline, there was significant growth in purchases abroad of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA, when their volume increased by 42% to X units. Over the period under review, imports posted a resilient increase. The pace of growth appeared the most rapid in 2019 when imports increased by 175%. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA skyrocketed to $X in 2022. In general, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of 137% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

China (X units), Malaysia (X units) and Thailand (X units) were the main suppliers of imports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA to Vietnam, with a combined 100% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +161.9%), while imports for the other leaders experienced mixed trend patterns.

In value terms, China ($X) constituted the largest supplier of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA to Vietnam, comprising 61% of total imports. The second position in the ranking was held by Malaysia ($X), with a 3.4% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+46.6% per year) and Thailand (+18.4% per year).

Import Prices by Country

In 2022, the average import price for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA amounted to $X per unit, almost unchanged from the previous year. In general, the import price recorded a noticeable contraction. The pace of growth was the most pronounced in 2016 when the average import price increased by 68%. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the average import prices remained at a 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 Thailand ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+130.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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