Key Market Indicators
British exports of transformers are projected to reach around $1.5 billion by 2026, an increase of 1% each year on average from 2021's figure of $1.4 billion. Since 1998, exports have grown by an average of 3.3% year on year. Last year, the UK came in 16th place, behind Singapore at $1.4 billion. Germany, the US and Japan were ranked 2nd, 3rd and 4th respectively. In the same period, British imports of transformers are estimated to reach $2.4 billion by 2026, increasing by 1.1% annually from 2021's total of $2.3 billion. Since 1998, import demand has grown by an average of 2.7% each year. In 2021, the UK came in 10th place, behind India at $2.3 billion. China, Germany and Mexico were the top three countries in this ranking.
