Latin America and the Caribbean: Electrical Transformer Market 2024

Electrical Transformer Market Size in Latin America and the Caribbean

The Latin American electrical transformer market totaled $X in 2023, flattening at the previous year. Over the period under review, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Electrical Transformer Production in Latin America and the Caribbean

In value terms, electrical transformer production stood at $X in 2023 estimated in export price. In general, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2023, production remained at a lower figure.

Electrical Transformer Exports

Exports in Latin America and the Caribbean

After two years of growth, shipments abroad of electrical transformers decreased by X% to X units in 2023. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 with an increase of X%. The volume of export peaked at X units in 2022, and then reduced modestly in the following year.

In value terms, electrical transformer exports skyrocketed to $X in 2023. In general, exports, however, saw a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico prevails in exports structure, reaching X units, which was near X% of total exports in 2023. It was distantly followed by the Dominican Republic (X units) and Brazil (X units), together constituting a X% share of total exports.

Mexico experienced a relatively flat trend pattern with regard to volume of exports of electrical transformers. At the same time, Brazil (X%) and the Dominican Republic (X%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. Brazil (X p.p.) and the Dominican Republic (X p.p.) significantly strengthened its position in terms of the total exports, while Mexico saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Mexico ($X) remains the largest electrical transformer supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with a X% share of total exports.

In Mexico, electrical transformer exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (X% per year) and the Dominican Republic (X% per year).

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per unit, growing by X% against the previous year. Export price indicated a prominent increase from 2012 to 2023: its price 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, electrical transformer export price increased by X% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($X per unit), while the Dominican Republic ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced mixed trends in the export price figures.

Electrical Transformer Imports

Imports in Latin America and the Caribbean

In 2023, after two years of growth, there was significant decline in purchases abroad of electrical transformers, when their volume decreased by X% to X units. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by X%. The volume of import peaked at X units in 2022, and then contracted dramatically in the following year.

In value terms, electrical transformer imports expanded rapidly to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 continue growth in the near future.

Imports by Country

Mexico represented the major importer of electrical transformers in Latin America and the Caribbean, with the volume of imports recording X units, which was approx. X% of total imports in 2023. It was distantly followed by Brazil (X units), creating a X% share of total imports.

Mexico experienced a relatively flat trend pattern with regard to volume of imports of electrical transformers. Brazil experienced a relatively flat trend pattern. Mexico (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported electrical transformers in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with a X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value in Mexico stood at X%.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2023, rising by X% against the previous year. In general, the import price continues to indicate a slight expansion. The pace of growth was the most pronounced in 2014 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Brazil ($X per unit), while Mexico totaled $X per unit.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%).

Source: IndexBox Platform