Key Market Indicators
Iran's exports of transformers fell 0.3% in 2021 to around $9.2 million compared to 2020. This is a 19.4% drop compared to 2002. Malta surpassed Iran and came in at 65th place with exports of $9.2 million. Germany, the United States and Japan came in second, third and fourth respectively. Iran's imports of transformers are projected to reach $87.4 million in 2026, down 2.5% on average year-on-year from 2021's $101.2 million. Since 2002, Iranian demand has grown 5.9% year-on-year. In 2021, Lithuania edged out Iran to come in at 66th place with imports of $101.2 million. China, Germany and Mexico came in second, third and fourth respectively.
