Electrical transformers market in Italy

Earlier Report Observations

The Italian market for electrical transformers began the period under the influence of EU Regulation 548/2014/EC, which from 2018 imposed mandatory energy efficiency requirements for power transformers. This regulatory push, along with the ongoing replacement of aging grid equipment and the focus on energy transition, supported demand for newer, more efficient models. However, market volume dipped to 59.9 million units in 2019 before rebounding to 70.2 million units in 2020, even as the COVID-19 pandemic caused economic disruption and temporarily slowed investments in smart grids.

A strong recovery followed in 2021, with market volume surging to over 100.9 million units. This growth was driven by renewed investment in renewable energy infrastructure, grid modernization projects, and growing interest in advanced technologies like solid-state and modular transformers. The peak was followed by a correction in 2022 to 76.4 million units, though demand remained underpinned by the energy transition, including the need for transformers for electric vehicle charging networks.

In 2023 and 2024, the market stabilized at a level around 60-61 million units. During these years, factors such as rising raw material costs and sustained regulatory focus on efficiency and loss reduction influenced the market. Continued investment in smart and solid-state transformer technology, alongside the expansion of renewable integration and the electric vehicle sector, provided ongoing support for the market's development.

Production electrical transformers in Italy

In value, 2017-2020, M $ US

In 2020, Italy's electrical transformer output was valued at 1 145 million US dollars, representing a 13.9% decline compared to 2019. Over the period from 2017 to 2020, production decreased by 14.3%, which translates to an annualized rate of 5.0%. The largest increase occurred in 2019, at 0.1%.

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

In kind, 2017-2020, K unit

In 2020, Italy produced 47 855 thousand units of electrical transformers, marking a significant increase of 34.9% from the previous year. From 2017 to 2020, production grew by 48.4%, with a compound annual growth rate of 14.1%. The largest decline was recorded in 2019, at 13.1%.

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

Exports electrical transformers from Italy

Exports in kind, K unit

Italy's electrical transformer export volume declined for the third consecutive year. In 2020, exports stood at 17 040 thousand units, reflecting a 3.7% decrease from the previous year. Between 2017 and 2020, exports fell by 25.5%, equating to an annualized rate of 9.4%.

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

The structure of Italy's electrical transformer exports in kind from 2017 to 2020 was diversified. Germany accounted for 12.8% of exports in kind, Romania for 12.5%, and Croatia for 8.2%, together making up just 33.5% of total flows, with no single country holding a clearly dominant position.

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

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

Exports in value, M $ US

Italy's electrical transformer exports in value terms declined for the second consecutive year. In 2020, exports reached 755.9 million US dollars, showing a slight decrease of 2.4% from the previous year. Between 2017 and 2020, exports increased by 7.8%, with an annualized rate of 2.5%. The maximum value was recorded in 2018 at 796.0 million US dollars. The largest decline occurred in 2019 at 2.7%, while the largest increase was in 2018 at 13.5%.

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

The structure of Italy's electrical transformer exports in value terms from 2017 to 2020 was diversified. France accounted for 8.8% of exports in value terms, Spain for 8.3%, and the United Arab Emirates for 7.6%, together comprising just 24.6% of total flows, with no country holding a clearly dominant position.

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

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

Imports electrical transformers to Italy

Imports in kind, K unit

Foreign electrical transformer supplies to Italy declined for the third consecutive year. In 2020, imports totaled 39 422 thousand units, down by 6.4% compared to 2019. Between 2017 and 2020, imports decreased by 26.2%, equating to an annualized rate of 9.6%.

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

From 2017 to 2020, China, Germany, and the Netherlands were the main sources for Italy's electrical transformer imports in kind. China accounted for 59.4% of imports in kind, Germany for 16.3%, and the Netherlands for 4.2%, together making up 79.9% of total flows.

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

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

Imports in value, M $ US

Italy's electrical transformer imports in value terms increased for the second consecutive year. In 2020, imports amounted to 211.2 million US dollars, which is 2.0% higher than in 2019. Over the period from 2017 to 2020, imports decreased by 2.7%, with a compound annual growth rate of 0.9%. The minimum value was recorded in 2018 at 200.0 million US dollars. The largest decline occurred in 2018 at 7.8%, while the largest increase was in 2019 at 3.5%.

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

The country composition of Italy's electrical transformer imports in value terms from 2017 to 2020 was dispersed. China accounted for 23.2% of imports in value terms, Germany for 18.0%, and Turkey for 6.4%, together forming just 47.6% of total flows, with the remaining 52.4% distributed among a wide range of other destinations.

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

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