What this market covers
Dry-type transformers of high power handling capacity, cooled by air or cast in resin.
Typical segments
- Cast resin transformers
- Dry power transformers
- Rectifier transformers
- Furnace transformers
Why this market is moving now
- World trade grew 59% from 2019 to 2024, a direct read on cross-border demand.
- Mexico is gaining ground: its exports rose 175% from 2019 to 2024, the fastest among the ten largest exporters.
Key figures
Global figures for this market, with the year each one describes. Use Cite to copy a reference to this page.
| Figure | Value | Year | Cite |
|---|---|---|---|
| World exports of large dry-type transformer (HS 850434) were worth $2.50 billion in 2024. | 2.50 USD billion | 2024 | |
| World exports were 59% higher in 2024 than in 2019 ($1.58 billion), calculated from the annual totals. | +59 % since 2019 | 2024 | |
| China was the largest exporter in 2024, with 27% of world exports ($687.7 million). | 27 % of world exports | 2024 | |
| The three largest exporters, China, Italy and South Korea, shipped 48% of world exports in 2024. | 48 % of world exports | 2024 | |
| The United States was the largest importer in 2024, buying $451.1 million, or 18% of world imports. | 18 % of world imports | 2024 | |
| 54 countries exported more than $1 million of this product in 2024. | 54 countries | 2024 | |
| The average world export price was about $8.21 per kilogram in 2024, calculated from value and weight. | 8.21 USD per kg | 2024 | |
| Countries exported 304.8 thousand tonnes of this product in 2024. | 304.8 thousand tonnes | 2024 | |
| Among the ten largest exporters, Mexico grew fastest, with exports up 175% from 2019 to 2024. | +175 % since 2019 | 2024 |
Calculated figures (shares, changes and prices per kilogram) are plain arithmetic on the reported values. Read how we work.
Buyers and suppliers
Who buys
- Building developers
- Utilities
- Industrial plants
Largest exporting countries, 2024
Largest importing countries, 2024
What the full report covers
- 01Executive summary
The answer in one page: size, direction and what moves it - 02Market definition and scope
What is in and out of the global market - 03Global market size, 2021 to 2025
Historical series and growth rates - 04Countries and regions
Demand, supply and trade by country and region - 05Outlook to 2031
Base, low and high scenarios with stated assumptions - 06Rules, policy and deadlines
Regulation and programmes that change demand - 07Drivers and barriers
What accelerates or slows adoption, by customer segment - 08Prices, costs and margins
Unit economics where public data allows - 09Competitive landscape
8 to 12 company profiles with recent moves - 10Opportunities and risks
For new entrants, suppliers and investors - 11Method and assumptions
How every figure was built
Included with the full report
- PDF report, 40 to 60 pages
- Excel data pack
- Ready-to-use charts
- Method note and assumptions
- Written to order in 5 working days
Frequently asked questions
How big is the global large dry-type transformer market?
There is no single official market total. World exports of HS 850434 reached $2.50 billion in 2024, a direct measure of cross-border trade.
Which countries export the most large dry-type transformer?
China led world exports in 2024 with 27% of the total, followed by Italy, South Korea and Germany.
Which countries import the most large dry-type transformer?
The United States was the largest importer in 2024, followed by Germany, Thailand and Malaysia.
Is world trade in large dry-type transformer growing?
World exports were 59% higher in 2024 than in 2019.
What is the average export price of large dry-type transformer?
Dividing world export value by weight gives about $8.21 per kilogram in 2024.
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