Key Market Indicators
Japanese transformer imports are expected to reach almost $3.5 billion by 2026, up from $3.3 billion in 2021, according to a report. This is an average annual growth rate of 0.7%. Since 1993, Japanese demand has increased by 1.3% each year. In 2021, Mexico overtook Japan, coming in fifth with imports of $3.3 billion, while China, Germany and Mexico were numbers two, three and four, respectively. Exports of Japanese transformers are also set to hit $4.5 billion by 2026, up from $4.2 billion in 2021, with an average annual growth rate of 1.2%. Since 1993, Japanese supply has been increasing at a rate of 2.7% annually. In 2021, the United States overtook Japan, coming in fourth with exports of $4.2 billion, while Germany, the United States and Japan were numbers two, three and four, respectively.
