Kuwait: Electrical Transformer Market 2024

Electrical Transformer Market Size in Kuwait

The Kuwaiti electrical transformer market fell remarkably to $X in 2022, waning by X% against the previous year. In general, consumption, however, saw significant growth. Electrical transformer consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Electrical Transformer Production in Kuwait

In value terms, electrical transformer production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, saw a slight increase. The pace of growth appeared the most rapid in 2016 with an increase of X%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Electrical Transformer Exports

Exports from Kuwait

In 2022, the amount of electrical transformers exported from Kuwait shrank rapidly to X units, falling by X% on the year before. Overall, exports showed a sharp slump. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, the exports attained the maximum at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, electrical transformer exports dropped significantly to $X in 2022. In general, exports faced a precipitous shrinkage. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X units), Egypt (X units) and South Korea (X units) were the main destinations of electrical transformer exports from Kuwait, with a combined X% share of total exports.

From 2013 to 2022, the biggest increases were recorded for Egypt (with a CAGR of X%), while shipments for the other leaders experienced a decline.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for electrical transformers exports from Kuwait, comprising X% of total exports. The second position in the ranking was held by South Korea ($X), with a X% share of total exports. It was followed by Egypt, with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Egypt (X% per year).

Export Prices by Country

The average electrical transformer export price stood at $X per unit in 2022, with an increase of X% against the previous year. Overall, the export price, however, continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iraq ($X per unit), while the average price for exports to Egypt ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced mixed trend patterns.

Electrical Transformer Imports

Imports into Kuwait

In 2022, supplies from abroad of electrical transformers increased by X% to X units, rising for the second year in a row after two years of decline. Over the period under review, total imports indicated modest growth from 2013 to 2022: its volume increased at an average annual rate of X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports attained the peak figure at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, electrical transformer imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a pronounced decline. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), India (X units) and Malaysia (X units) were the main suppliers of electrical transformer imports to Kuwait, together accounting for X% of total imports. The United States, Italy, Oman, Brazil, Germany and the UK lagged somewhat behind, together comprising a further X%.

From 2013 to 2022, the biggest increases were recorded for Brazil (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Oman ($X) constituted the largest supplier of electrical transformers to Kuwait, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by the United States, with an X% share.

From 2013 to 2022, the average annual rate of growth in terms of value from Oman totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and the United States (X% per year).

Import Prices by Country

The average electrical transformer import price stood at $X per unit in 2022, jumping by X% against the previous year. In general, the import price, however, showed a pronounced setback. The growth pace was the most rapid in 2018 when the average import price increased by X%. Over the period under review, average import prices hit record highs 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 Oman ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Croatia (X.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform