Liquid dielectric electrical transformers market in Italy

Earlier Report Observations

Between 2018 and 2020, the market volume for liquid dielectric electrical transformers in Italy experienced significant fluctuations. It declined from 374.5 thousand units in 2018 to 260.8 thousand in 2019, before recovering to 335.1 thousand units in 2020.

The market contracted to 280.2 thousand units in 2021, a period marked by a sharp rise in transformer prices due to increased costs and demand, which likely restrained volume growth. Simultaneously, slower adoption of smart grids and transformers limited market expansion. In 2022, volume fell more sharply to 180.7 thousand units, even as regulatory focus on sustainability and the energy transition promoted low-loss transformers, and global demand for liquid transformers in residential, commercial, and industrial applications provided a supportive backdrop.

A rebound to 216.6 thousand units occurred in 2023, driven by investments in grid modernization and renewable energy integration. Significant industry moves, such as Siemens Energy's expansion of transformer production to address global shortages, underscored the market's dynamism. However, by 2024 the market volume dropped again to 163.2 thousand units, amid continued price increases from high costs and demand, alongside new regulatory measures including Italian Ministerial Decree 450/2024 governing the electricity market and storage capacity.

Production liquid dielectric transformers in Italy

In value, 2017-2020, M $ US

In 2020, Italy's production of liquid dielectric electrical transformers was valued at 490.4 million US dollars, marking a moderate decline of 9.2% compared to 2019. Over the period from 2017 to 2020, production fell by 27.7%, which translates to an annualized decrease of 10.2%. The most significant drop occurred in 2018, with a 27.4% reduction, while the largest increase was recorded in 2019 at 9.7%.

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

In kind, 2017-2020, unit

Following a two-year decline, Italy's production of liquid dielectric electrical transformers saw an uptick. In 2020, the country produced 8,014 units, representing a year-over-year increase of 2.9%. However, from 2017 to 2020, overall production decreased by 35.3%, averaging an annual decline of 13.5%. The lowest output was in 2019 at 7,790 units, with the steepest drop occurring in 2018 at 36.4%.

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

Exports liquid dielectric transformers from Italy

Exports in kind, K unit

Italy's exports of liquid dielectric electrical transformers declined for the third year in a row. In 2020, the country exported 26,200 units, reflecting a sharp decrease of 20.7% from 2019. Between 2017 and 2020, exports plummeted by 80.6%, with a compound annual growth rate (CAGR) of -42.1%.

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

From 2017 to 2020, Latvia, Turkey, and Switzerland were the primary markets for Italy's exports in kind, accounting for 22.4%, 22.0%, and 10.2% of the total, respectively. Together, these three countries made up 54.6% of all export flows.

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

In 2020, Italy exported liquid dielectric electrical transformers worth 386.2 million US dollars, showing a slight rise of 2.5% compared to 2019. Over the 2017-2020 period, exports grew by 9.5%, equivalent to an annualized rate of 3.1%. The peak value was reached in 2018 at 391.3 million US dollars, with the largest increase that year at 10.9%, while the most significant decline occurred in 2019 at 3.7%.

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

Between 2017 and 2020, Italy's export structure in value terms was highly diversified. Spain, Iraq, and the United Kingdom accounted for 11.1%, 7.8%, and 6.1% of exports, respectively, totaling just 25.0% of all flows. The remaining 75.0% was spread across numerous smaller trading partners.

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

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

Imports liquid dielectric transformers to Italy

Imports in kind, K unit

In 2020, Italy imported 353,300 units of liquid dielectric electrical transformers, indicating a strong gain of 23.5% from 2019. Over the 2017-2020 span, imports increased by 10%, with a CAGR of 3.2%. The lowest import volume was in 2019 at 286,100 units, while the highest was in 2018 at 399,800 units. The largest decline occurred in 2019 at 28.4%, and the biggest increase was in 2018 at 24.5%.

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

Throughout 2017 to 2020, China dominated Italy's imports in kind, holding a 74.7% share of total flows. All other markets combined accounted for the remainder.

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 imports of liquid dielectric electrical transformers increased for the third consecutive year. In 2020, imports reached 71.2 million US dollars, marking a dramatic surge of 85.5% compared to the previous year. From 2017 to 2020, imports soared by 228.8%, with a CAGR of 48.7%.

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

From 2017 to 2020, Germany, Turkey, and Croatia consistently led Italy's import structure in value terms, with shares of 20.9%, 18.8%, and 12.0%, respectively. Together, these three countries accounted for 51.7% of total import flows.

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

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