In 2023, the export value of electric transformers and static converters from Viet Nam stood at $1.658 billion USD. According to forecasted data, there is a clear upward trend over the next five years. The year-on-year growth rates are as follows:
- 2024: 4.18%
- 2025: 4.18%
- 2026: 3.93%
- 2027: 3.70%
- 2028: 3.50%
The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is 4.1%, indicating a consistent increase in export value over this period.
Future trends to watch for include the effect of technological advancements, global demand shifts due to sustainability goals, trade policies, and competitive positioning from other major exporters within the region. Additionally, monitoring the expansion of renewable energy projects worldwide could provide insights into further demand for electric transformers and static converters.
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