The global export market for transformers with a power handling capacity of 16-500 kVA is led by Mexico, followed by the United States and Belgium, with significant contributions from China and Germany. Noteworthy growth was observed in Greece and Bosnia and Herzegovina, showing substantial year-on-year increases. Conversely, notable declines were seen in Sweden and Japan, affecting their global market share. Over the past five years, countries like Australia and Singapore have shown consistent growth, while some like Japan and Switzerland experienced declines.
Future trends to watch include enhanced production from developing markets and increasing technological advancement in transformer manufacturing, potentially shifting current market dynamics. Additionally, continued growth in renewable energy could drive demand in emerging regions.
Top countries in Export of Transformers Electric Having a Power Handling Capacity of 16-500 kVA Share by Country (US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Mexico | 30.33 | 2023 | +2.41% | +2.66% | View data |
| 2 | 2 United States | 13.48 | 2023 | +1.72% | +1.87% | View data |
| 3 | 3 Belgium | 9.28 | 2023 | +6.38% | +0.53% | View data |
| 4 | 4 China | 5.84 | 2023 | +0.92% | +1.87% | View data |
| 5 | 5 Germany | 5.47 | 2023 | +1.07% | +1.8% | View data |
| 6 | 6 Canada | 5.15 | 2023 | +1.55% | +2.28% | View data |
| 7 | 7 Italy | 4.66 | 2023 | -1.84% | -3.14% | View data |
| 8 | 8 Denmark | 3.62 | 2023 | +2.54% | +1.97% | View data |
| 9 | 9 South Korea | 3.23 | 2023 | +2.95% | -0.44% | View data |
| 10 | 10 India | 3.21 | 2023 | +2.01% | +2.14% | View data |
