Colombia: Electrical Transformer Market 2024

Electrical Transformer Market Size in Colombia

The Colombian electrical transformer market rose markedly to $X in 2023, picking up by X% against the previous year. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Electrical Transformer Production in Colombia

In value terms, electrical transformer production rose markedly to $X in 2023 estimated in export price. Over the period under review, production, however, continues to indicate a mild slump. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. Electrical transformer production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Electrical Transformer Exports

Exports from Colombia

In 2023, electrical transformer exports from Colombia surged to X units, with an increase of X% on the year before. In general, exports enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2023 and are likely to see steady growth in the immediate term.

In value terms, electrical transformer exports contracted sharply to $X in 2023. Over the period under review, total exports indicated noticeable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The exports peaked at $X in 2022, and then contracted significantly in the following year.

Exports by Country

Guatemala (X units) was the main destination for electrical transformer exports from Colombia, accounting for a X% share of total exports. Moreover, electrical transformer exports to Guatemala exceeded the volume sent to the second major destination, the Dominican Republic (X units), twofold. Panama (X units) ranked third in terms of total exports with an X% share.

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

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

From 2012 to 2023, the average annual growth rate of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (X% per year) and Guatemala (X% per year).

Export Prices by Country

In 2023, the average electrical transformer export price amounted to $X per unit, falling by X% against the previous year. In general, the export price saw a abrupt decline. The pace of growth was the most pronounced in 2021 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Peru ($X per unit), while the average price for exports to Honduras ($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 the United States (X%), while the prices for the other major destinations experienced mixed trend patterns.

Electrical Transformer Imports

Imports into Colombia

In 2023, after three years of growth, there was significant decline in purchases abroad of electrical transformers, when their volume decreased by X% to X units. Over the period under review, imports, however, saw a resilient increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at X units in 2022, and then declined in the following year.

In value terms, electrical transformer imports fell notably to $X in 2023. In general, total imports indicated a mild expansion 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by X%. As a result, imports reached the peak of $X. From 2019 to 2023, the growth of imports remained at a lower figure.

Imports by Country

In 2023, China (X units) constituted the largest electrical transformer supplier to Colombia, with a X% share of total imports. Moreover, electrical transformer imports from China exceeded the figures recorded by the second-largest supplier, India (X units), eightfold. The third position in this ranking was held by Turkey (X units), with a X% share.

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

In value terms, China ($X), Brazil ($X) and Germany ($X) constituted the largest electrical transformer suppliers to Colombia, with a combined X% share of total imports. Turkey, the United States, Spain, Mexico, Italy, India, Taiwan (Chinese) and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Spain, 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

The average electrical transformer import price stood at $X per unit in 2023, dropping by X% against the previous year. In general, the import price saw a deep setback. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 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 Germany ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform