In 2023, Mexico led the global export of transformers with a power handling capacity of 16-500 kVA, exporting goods valued at $333.8 million. The United States and Belgium followed with exports valued at $148.37 million and $102.18 million respectively. Key positive trends include significant year-on-year growth in Greece (145.2%), Azerbaijan (13.77%), and Ivory Coast (120.2%). Conversely, countries like Zimbabwe (-12.73%) and Ireland (-19.46%) experienced notable declines. The Compound Annual Growth Rate (CAGR) over five years reveals gradual increases for some, like Mexico and Singapore, while others like Japan and Hungary saw decline.
Future trends to watch include the potential shift towards greener energy solutions which may influence export demand, as countries invest in sustainable electrical infrastructure. Emerging markets may continue to gain momentum, supported by increased local manufacturing capabilities and strategic trade agreements, which can further alter the landscape of global transformer exports.
Top countries in Export of Transformers Electric Having a Power Handling Capacity of 16-500 kVA by Country
| # | 10 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Mexico | 333,800,000 | 2023 | +2.41% | +2.66% | View data |
| 2 | 2 United States | 148,370,000 | 2023 | +1.72% | +1.87% | View data |
| 3 | 3 Belgium | 102,180,000 | 2023 | +6.38% | +0.53% | View data |
| 4 | 4 China | 64,319,000 | 2023 | +0.92% | +1.87% | View data |
| 5 | 5 Germany | 60,184,000 | 2023 | +1.07% | +1.8% | View data |
| 6 | 6 Canada | 56,706,000 | 2023 | +1.55% | +2.28% | View data |
| 7 | 7 Italy | 51,250,000 | 2023 | -1.84% | -3.14% | View data |
| 8 | 8 Denmark | 39,870,000 | 2023 | +2.54% | +1.97% | View data |
| 9 | 9 South Korea | 35,584,000 | 2023 | +2.95% | -0.44% | View data |
| 10 | 10 India | 35,307,000 | 2023 | +2.01% | +2.14% | View data |
