Electrical transformers market in Croatia

Earlier Report Observations

The market for electrical transformers in Croatia saw significant volume changes between 2018 and 2024. After a decline to 3.0 million units in 2020, consumption rebounded sharply, rising by over 27% in 2021 to 3.9 million units and peaking at 4.2 million units in 2022. This growth was followed by a substantial contraction, with the market falling to 3.3 million units in 2023 and then to 3.1 million units in 2024.

Domestic production increased steadily from 2021 onward, reaching 1.2 million units by 2024. Imports, which make up the largest share of market supply, surged during the 2021-2022 period but then dropped sharply in 2023 and 2024, contributing directly to the overall market decline in those final years.

Production electrical transformers in Croatia

In value, 2017-2020, M $ US

Following a two-year decline, Croatia's electrical transformer production value rebounded. In 2020, output reached 343.4 million US dollars, marking a substantial 23.9% increase from the previous year. Over the 2017-2020 period, production grew by 8%, translating to an average annual growth rate of 2.6%. The lowest value was recorded in 2019 at 277.1 million US dollars, while the sharpest decline occurred in 2018 with an 11.2% drop.

Annual dynamics of production in Croatia in value, 2017-2020, M $ US

In kind, 2017-2020, K unit

Croatia's electrical transformer production volume declined for the second consecutive year. In 2020, 702.1 thousand units were produced, representing a moderate 4.1% decrease compared to 2019. From 2017 to 2020, production increased by 5%, averaging 1.6% growth per year. The peak was reached in 2018 with 805.8 thousand units, which also saw the largest increase of 20.5%. The most significant decline occurred in 2019 with a 9.1% reduction.

Annual dynamics of production in Croatia in kind, 2017-2020, K unit

Exports electrical transformers from Croatia

Exports in kind, K unit

After two years of decline, Croatia's electrical transformer export volume recovered. In 2020, exports totaled 124 thousand units, showing a strong 18.1% year-over-year increase. However, over the 2017-2020 period, exports decreased by 32.7%, with a compound annual growth rate of -12.4%. The lowest point was in 2019 at 105 thousand units, which also experienced the largest decline of 37.8%.

Annual dynamics of product's exports from Croatia in kind, 2017-2020, K unit

From 2017 to 2020, Italy accounted for 61.4% of Croatia's electrical transformer exports by volume, followed by Switzerland at 11.0% and Sweden at 7.5%. Together, these three countries represented 79.9% of total export volume.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Croatia in kind, 2017-2020

Exports in value, M $ US

Following a two-year decline, Croatia's electrical transformer export value increased. In 2020, exports reached 304.3 million US dollars, reflecting a steep 29.4% rise from 2019. Over the 2017-2020 period, export value grew by 10.4%, with an average annual growth rate of 3.3%. The lowest value was recorded in 2019 at 235.1 million US dollars, while the largest decline occurred in 2018 with a 13.8% drop.

Annual dynamics of product's exports from Croatia in value, 2017-2020, M $ US

Between 2017 and 2020, Croatia's electrical transformer export value was distributed across multiple partners rather than concentrated in a few. Sweden accounted for 11.3% of export value, the United Arab Emirates for 7.3%, and the United States for 7.2%. Together, these three countries represented 25.8% of total export value, with the remaining 74.2% spread across numerous other nations.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Croatia in value, 2017-2020

Imports electrical transformers to Croatia

Imports in kind, K unit

Croatia's electrical transformer import volume declined for the second consecutive year. In 2020, imports amounted to 2 454 thousand units, down 4.3% from 2019. Over the 2017-2020 period, imports increased by 16.7%, averaging 5.3% growth per year. The highest volume was recorded in 2018 at 2 610 thousand units, which also saw the largest increase of 24.1%.

Annual dynamics of product's imports to Croatia in kind, 2017-2020, K unit

From 2017 to 2020, Italy remained the dominant supplier of electrical transformers to Croatia, accounting for 88.3% of total import volume. The remaining imports were distributed among various other countries.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Croatia in kind, 2017-2020

Imports in value, M $ US

In 2020, Croatia's electrical transformer import value totaled 11.8 million US dollars, representing a significant 16.3% decrease year-over-year. Over the 2017-2020 period, imports declined by 18%, with an average annual decrease of 6.4%. The lowest value was recorded in 2018 at 10.1 million US dollars, which also experienced the largest decline of 29.9%. The most substantial increase occurred in 2019 with a 39.9% rise.

Annual dynamics of product's imports to Croatia in value, 2017-2020, M $ US

Between 2017 and 2020, Italy was the leading source of Croatia's electrical transformer imports by value at 31.1%, followed by Germany at 17.1% and Denmark at 9.6%. Together, these three countries accounted for 57.8% of total import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Croatia in value, 2017-2020