Electrical transformers, static converters and inductors market in Croatia

Earlier Report Observations

The Croatian market for electrical transformers, static converters and inductors was influenced in its initial years by regulatory updates and the dominant position of the state-owned manufacturer Končar. In 2018, amendments to the Grid Code for the transmission system introduced the (n-1) reliability criterion, mandating network configuration to prevent outages, which raised demand for compliant transformers. A parallel focus on reducing energy losses under EU eco-design rules also encouraged upgrades. Despite these drivers, the domestic market size decreased to 99.1 million USD in 2019. It recovered to 106.0 million USD in 2020 following further Grid Code revisions that specified technical requirements for measuring transformers, reinforcing investment in grid reliability.

From 2021 onward, the market experienced sustained and rapid growth, reaching 150.5 million USD in 2021 and climbing to 274.2 million USD in 2024. This expansion coincided with the ongoing harmonization of national legislation with EU directives on renewable energy and electricity markets, which boosted demand within the power sector. The trend was reinforced in 2024 by the publication of new Grid Rules reaffirming the (n-1) reliability obligation and by Končar's announced plans to increase production capacity, indicating continued industrial investment and market development.

Production electrical transformers, static converters and inductors in Croatia

In value, 2017-2020, M $ US

Croatia's production of electrical transformers, static converters, and inductors rebounded after two years of contraction. In 2019, output reached its lowest point at 333.8 million US dollars, but then surged by 23.1% in 2020 to 410.8 million US dollars. Over the 2017-2020 period, production grew by 5.4%, with an average annual growth rate of 1.8%. The most significant decline occurred in 2018, when production fell by 10.8%.

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

Exports electrical transformers, static converters and inductors from Croatia

Exports in kind, t

Croatia's exports of electrical transformers, static converters, and inductors increased for the second consecutive year. In 2018, exports hit their lowest level at 49 470 tonnes, with a decline of 9.3% that year. By 2020, exports had risen to 56 586 tonnes, marking a 9.0% increase compared to 2019. Over the 2017-2020 period, exports grew by 3.8%, equivalent to an annualized rate of 1.2%.

Annual dynamics of product's exports from Croatia in kind, 2017-2020, t

An analysis of Croatia's exports in physical terms from 2017 to 2020 reveals a broad distribution across many markets. Germany accounted for 17.4% of exports, Austria for 9.3%, and Sweden for 8.1%. Together, these three countries represented only 34.7% of total export flows, while the remaining 65.3% was spread among numerous other trading partners.

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

Croatia's exports of electrical transformers, static converters, and inductors in value terms recovered after a two-year decline. In 2019, exports were at their lowest point, valued at 320.5 million US dollars, but then jumped by 22.7% in 2020 to 393.3 million US dollars. Over the 2017-2020 period, exports increased by 8.7%, with an average annual growth rate of 2.8%. The largest decline occurred in 2018, when exports fell by 9.6%.

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

The structure of Croatia's exports in value terms from 2017 to 2020 indicates a diversified set of partners. Germany contributed 11.4% of export value, Sweden 8.5%, and Austria 6.2%. Combined, these three countries accounted for only 26.2% of total export flows, while the remaining 73.8% was distributed among many smaller markets.

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, static converters and inductors to Croatia

Imports in kind, t

Croatia's imports of electrical transformers, static converters, and inductors in physical terms declined significantly in 2020. After reaching a peak of 7 217 tonnes in 2019, with a 28.1% increase that year, imports fell by 21.6% in 2020 to 5 660 tonnes. The lowest import level was recorded in 2018 at 5 635 tonnes. Over the 2017-2020 period, imports decreased by 5.8%, with an average annual decline of 2.0%.

Annual dynamics of product's imports to Croatia in kind, 2017-2020, t

From 2017 to 2020, Italy, Austria, and Germany were the primary suppliers of electrical transformers, static converters, and inductors to Croatia in physical terms. Italy accounted for 24.9% of imports, Austria for 14.1%, and Germany for 12.2%. Together, these three countries represented 51.2% of total imports.

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

Croatia's imports of electrical transformers, static converters, and inductors in value terms increased for the third consecutive year. In 2020, imports rose by 2.9% to 88.4 million US dollars. Over the 2017-2020 period, imports grew by 10.3%, with an average annual growth rate of 3.3%.

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

From 2017 to 2020, Italy, Germany, and the Netherlands played notable but not dominant roles as suppliers of electrical transformers, static converters, and inductors to Croatia in value terms. Italy accounted for 22.4% of import value, Germany for 16.2%, and the Netherlands for 9.1%. Their combined share reached 47.8% of total imports, with the remainder spread across other markets.

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

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