Key Market Indicators
Filipina demand for Transformers is set to surge to $790 million by 2026, from $668 million in 2021, growing at an average rate of 2.8% year on year. Since 2001, the country has experienced an average annual growth of 7.1%. In 2021, the Philippines placed 30th in the global ranking, lagging behind Belgium, which was valued at $668 million. China, Germany and Mexico came in second, third and fourth respectively. Meanwhile, export of Transformers from the Philippines is expected to increase to $2.6 billion by 2026, from $2.2 billion in 2021, growing at a CAGR of 2.6% year on year. Since 2001, the supply of Transformers from the Philippines has grown by 6.8% annually. In 2021, the country was ninth in the global ranking, behind South Korea at $2.2 billion. Germany, the United States and Japan came in second, third and fourth respectively.
