South-Eastern Asia: Electrical Transformer Market 2024

Electrical Transformer Market Size in South-Eastern Asia

In 2022, the Southeast Asian electrical transformer market increased by X% to $X, rising for the third consecutive year after four years of decline. Overall, consumption showed a deep reduction. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Electrical Transformer Production in South-Eastern Asia

In value terms, electrical transformer production rose rapidly to $X in 2022 estimated in export price. In general, production continues to indicate a precipitous contraction. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. As a result, production reached the peak level of $X.3B. From 2015 to 2022, production growth failed to regain momentum.

Electrical Transformer Exports

Exports in South-Eastern Asia

In 2022, shipments abroad of electrical transformers increased by X% to X units, rising for the second year in a row after two years of decline. Overall, exports, however, showed a pronounced slump. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, electrical transformer exports surged to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The biggest shipments were from Malaysia (X units), Thailand (X units) and Singapore (X units), together recording X% of total export. It was distantly followed by Myanmar (X units), constituting a X% share of total exports. Vietnam (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest electrical transformer supplying countries in South-Eastern Asia were Thailand ($X), Vietnam ($X) and Malaysia ($X), together comprising X% of total exports. Singapore and Myanmar lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Myanmar, 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

The export price in South-Eastern Asia stood at $X per unit in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while Singapore ($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 (X%), while the other leaders experienced more modest paces of growth.

Electrical Transformer Imports

Imports in South-Eastern Asia

In 2022, supplies from abroad of electrical transformers increased by X% to X units, rising for the fifth consecutive year after five years of decline. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by X%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, electrical transformer imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand represented the largest importing country with an import of about X units, which finished at X% of total imports. Malaysia (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (X%). Vietnam (X units) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to electrical transformer imports into Thailand stood at X%. At the same time, Vietnam (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Singapore (X%) illustrated a downward trend over the same period. While the share of Thailand (X p.p.) and Malaysia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Singapore (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X), Vietnam ($X) and Malaysia ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per unit, surging by X% against the previous year. Import price indicated a pronounced increase from 2012 to 2022: its price 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, electrical transformer import price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the import price increased by X%. As a result, import price attained the peak level of $X per unit. From 2018 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform