U.S.: Market for Power, Distribution, And Specialty Transformers 2024

Market Size for Power, Distribution, And Specialty Transformers in the U.S.

The U.S. market for power, distribution, and specialty transformers skyrocketed to $X in 2023, with an increase of X% against the previous year. The market value increased at an average annual rate of X% over the period from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level in 2023 and is likely to continue growth in the immediate term.

Production of Power, Distribution, And Specialty Transformers in the U.S.

In value terms, power, distribution and specialty transformer production amounted to $X in 2023. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. Power, distribution and specialty transformer production peaked at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

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Exports of Power, Distribution, And Specialty Transformers

Exports from the U.S.

In 2023, shipments abroad of power, distribution, and specialty transformers increased by X% to X units for the first time since 2020, thus ending a two-year declining trend. Overall, exports saw a strong expansion. The pace of growth was the most pronounced in 2020 when exports increased by X%. As a result, the exports reached the peak of X units. From 2021 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, power, distribution and specialty transformer exports soared to $X in 2023. In general, exports, however, showed a pronounced contraction. The exports peaked at $X in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X units) was the main destination for power, distribution and specialty transformer exports from the United States, with a X% share of total exports. It was followed by Canada (X units), with a X% share of total exports. China (X units) ranked third in terms of total exports with a X% share.

From 2013 to 2023, the average annual growth rate of volume to Mexico totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and China (X% per year).

In value terms, Canada ($X), Mexico ($X) and China ($X) appeared to be the largest markets for power, distribution and specialty transformer exported from the United States worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2023, the average export price for power, distribution, and specialty transformers amounted to $X per unit, falling by X% against the previous year. Over the period under review, the export price faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to Mexico ($X per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (X%), while the prices for the other major destinations experienced a decline.

Imports of Power, Distribution, And Specialty Transformers

Imports into the U.S.

After two years of growth, purchases abroad of power, distribution, and specialty transformers decreased by X% to X units in 2023. Overall, imports, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports hit record highs at X units in 2022, and then dropped in the following year.

In value terms, power, distribution and specialty transformer imports surged to $X in 2023. Over the period under review, imports, however, recorded resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2023, Mexico (X units) constituted the largest power, distribution and specialty transformer supplier to the United States, with a X% share of total imports. Moreover, power, distribution and specialty transformer imports from Mexico exceeded the figures recorded by the second-largest supplier, China (X units), twofold. Canada (X units) ranked third in terms of total imports with a X% share.

From 2013 to 2023, the average annual growth rate of volume from Mexico amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Canada (X% per year).

In value terms, Mexico ($X) constituted the largest supplier of power, distribution, and specialty transformers to the United States, comprising X% of total imports. The second position in the ranking was taken by Canada ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2013 to 2023, the average annual growth rate of value from Mexico totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (X% per year) and South Korea (X% per year).

Import Prices by Country

The average import price for power, distribution, and specialty transformers stood at $X per unit in 2023, surging by X% against the previous year. Over the period under review, import price indicated a moderate expansion from 2013 to 2023: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The import price peaked at $X per unit in 2020; however, from 2021 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform