Estonia: Electrical Transformer Market 2024

Electrical Transformer Market Size in Estonia

The Estonian electrical transformer market surged to $X in 2023, increasing by X% against the previous year. Overall, consumption saw a prominent expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Electrical Transformer Production in Estonia

In value terms, electrical transformer production reduced sharply to $X in 2023 estimated in export price. In general, production enjoyed resilient growth. The most prominent rate of growth was recorded in 2022 when the production volume increased by X%. As a result, production reached the peak level of $X, and then contracted markedly in the following year.

Electrical Transformer Exports

Exports from Estonia

In 2023, approx. X units of electrical transformers were exported from Estonia; which is down by X% against 2022. Overall, exports saw a deep contraction. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2023, the growth of the exports failed to regain momentum.

In value terms, electrical transformer exports soared to $X in 2023. Over the period under review, total exports indicated notable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Finland (X units), Germany (X units) and Sweden (X units) were the main destinations of electrical transformer exports from Estonia, with a combined X% share of total exports. Norway and Spain lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, Finland ($X) remains the key foreign market for electrical transformers exports from Estonia, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports. It was followed by Sweden, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Finland amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Sweden (X% per year).

Export Prices by Country

The average electrical transformer export price stood at $X per unit in 2023, jumping by X% against the previous year. Over the period under review, the export price posted a significant increase. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs in 2023 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per unit), while the average price for exports to Spain ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Transformer Imports

Imports into Estonia

In 2023, approx. X units of electrical transformers were imported into Estonia; picking up by X% against the year before. Over the period under review, imports, however, showed a noticeable reduction. The pace of growth was the most pronounced in 2022 when imports increased by X% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, electrical transformer imports skyrocketed to $X in 2023. Overall, imports posted resilient growth. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2023 and are likely to see steady growth in the immediate term.

Imports by Country

In 2023, the Netherlands (X units) constituted the largest electrical transformer supplier to Estonia, with a X% share of total imports. Moreover, electrical transformer imports from the Netherlands exceeded the figures recorded by the second-largest supplier, China (X units), twofold. Turkey (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from the Netherlands stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Turkey (X% per year).

In value terms, Turkey ($X) constituted the largest supplier of electrical transformers to Estonia, comprising X% of total imports. The second position in the ranking was held by Bulgaria ($X), with a X% share of total imports. It was followed by Finland, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Turkey stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (X% per year) and Finland (X% per year).

Import Prices by Country

The average electrical transformer import price stood at $X per unit in 2023, jumping by X% against the previous year. In general, the import price showed a resilient increase. The most prominent rate of growth was recorded in 2022 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Switzerland ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Switzerland (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform