Panama: Market for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 16 kVA to 500 kVA 2024

Market Size for Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 16 kVA to 500 kVA in Panama

For the third consecutive year, the Panamanian market for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA recorded growth in sales value, which increased by X% to $X in 2023. Over the period under review, consumption saw a significant expansion. As a result, consumption reached the peak level of $X. From 2014 to 2023, the growth of the market remained at a somewhat lower figure.

Exports of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 16 kVA to 500 kVA

Exports from Panama

In 2023, after two years of growth, there was decline in shipments abroad of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA, when their volume decreased by X% to X units. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

In value terms, exports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA shrank dramatically to $X in 2023. Overall, exports continue to indicate a precipitous descent. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

Exports by Country

Venezuela (X units) was the main destination for exports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA from Panama, with a X% share of total exports. Moreover, exports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA to Venezuela exceeded the volume sent to the second major destination, Grenada (X units), more than tenfold. The third position in this ranking was held by Guatemala (X units), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Venezuela amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Grenada (X% per year) and Guatemala (X% per year).

In value terms, Venezuela ($X) remains the key foreign market for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA exports from Panama, comprising X% of total exports. The second position in the ranking was taken by Grenada ($X), with a X% share of total exports. It was followed by Nicaragua, with a X% share.

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

Export Prices by Country

In 2023, the average export price for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA amounted to $X per unit, shrinking by X% against the previous year. In general, the export price saw a sharp decline. The pace of growth was the most pronounced in 2020 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Venezuela ($X per unit), while the average price for exports to Ecuador ($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 Grenada (X%), while the prices for the other major destinations experienced a decline.

Imports of Electrical Transformers with Non-Liquid Dielectric, of Power Handling Capacity from 16 kVA to 500 kVA

Imports into Panama

In 2023, imports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA into Panama skyrocketed to X units, jumping by X% on 2022. In general, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2023, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA surged to $X in 2023. Overall, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2023, the growth of imports of remained at a somewhat lower figure.

Imports by Country

The United States (X units), China (X units) and South Africa (X units) were the main suppliers of imports of electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA to Panama, together comprising X% of total imports.

From 2012 to 2023, the biggest increases were recorded for the United States (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA suppliers to Panama were Mexico ($X), the United States ($X) and South Africa ($X), together comprising X% of total imports.

In terms of the main suppliers, the United States, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average import price for electrical transformers with non-liquid dielectric, of power handling capacity from X kVA to X kVA amounted to $X per unit, remaining relatively unchanged against the previous year. In general, the import price, however, showed a slight decline. The growth pace was the most rapid in 2020 when the average import price increased by X%. The import price peaked at $X per unit in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

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 Mexico ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform