Market research

Liquid dielectric electrical transformers market in Portugal

Release date: Mar 30, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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Earlier Report Observations

Portugal's market for liquid dielectric electrical transformers expanded sharply from USD 21.6 million in 2020 to USD 72.9 million in 2023, more than tripling in size over the period. The most rapid increase occurred between 2020 and 2021, when the market nearly doubled to USD 40.5 million, followed by continued strong growth in the subsequent years.

This sustained expansion was primarily driven by regulatory reforms in the energy sector. The implementation of Decreto-Lei n.º 15/2022 in early 2022 reorganized the National Electrical System, aligning it with European directives and stimulating investment in grid infrastructure. Concurrently, updated technical specifications from E-REDES began formally accepting natural ester insulating liquids, promoting the adoption of newer, more sustainable transformer models. These regulatory and technical shifts continued to support market growth through 2023 with further refinements to liquid insulation standards.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In value
    1. 4.1.1.1. Production, 2020-2023
    2. 4.1.1.2. Imports, 2018-2025
    3. 4.1.1.3. Exports, 2018-2025
    4. 4.1.1.4. Market size, 2020-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Portugal
  1. 5.1.1. In kind, 2020-2023, unit
  2. 5.1.2. In value, 2020-2023, K $ US
2. 5.2. Production in the EU, 2018-2024
  1. 5.2.1. In kind, 2018-2024, unit
  2. 5.2.2. In value, 2018-2024, K $ US
6. Exports
1. 6.1. Exports (Direct Data)
  1. 6.1.1. Exports - Total information
  2. 6.1.2. Exports in kind, unit
    1. 6.1.2.1. Annual dynamics of product's exports from Portugal in kind, 2018-2025, unit
    2. 6.1.2.2. Dynamics of product's exports in kind from Portugal by countries, 2018-2025, unit
    3. 6.1.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 6.1.3. Exports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's exports from Portugal in value, 2018-2025, K $ US
    2. 6.1.3.2. Dynamics of product's exports in value from Portugal by countries, 2018-2025, K $ US
    3. 6.1.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 6.1.4. Average price of product's exports, K $ US/unit
    1. 6.1.4.1. Annual dynamics of average price of product's exports from Portugal, 2018-2025, K $ US/unit
    2. 6.1.4.2. Dynamics of average price of product's exports from Portugal by countries, 2018-2025, K $ US/unit
2. 6.2. Exports (Mirror Data)
  1. 6.2.1. Exports - Total information
  2. 6.2.2. Exports in kind, unit
    1. 6.2.2.1. Annual dynamics of product's exports from Portugal in kind, 2018-2025, unit
    2. 6.2.2.2. Dynamics of product's exports in kind from Portugal by countries, 2018-2025, unit
    3. 6.2.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 6.2.3. Exports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's exports from Portugal in value, 2018-2025, K $ US
    2. 6.2.3.2. Dynamics of product's exports in value from Portugal by countries, 2018-2025, K $ US
    3. 6.2.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 6.2.4. Average price of product's exports, K $ US/unit
    1. 6.2.4.1. Annual dynamics of average price of product's exports from Portugal, 2018-2025, K $ US/unit
    2. 6.2.4.2. Dynamics of average price of product's exports from Portugal by countries, 2018-2025, K $ US/unit
7. Imports
1. 7.1. Imports (Direct Data)
  1. 7.1.1. Imports - Total information
  2. 7.1.2. Imports in kind, unit
    1. 7.1.2.1. Annual dynamics of product's imports to Portugal in kind, 2018-2025, unit
    2. 7.1.2.2. Dynamics of product's imports in kind to Portugal by countries, 2018-2025, unit
    3. 7.1.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 7.1.3. Imports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's imports to Portugal in value, 2018-2025, K $ US
    2. 7.1.3.2. Dynamics of product's imports in value to Portugal by countries, 2018-2025, K $ US
    3. 7.1.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 7.1.4. Average price of product's imports, K $ US/unit
    1. 7.1.4.1. Annual dynamics of average price of product's imports to Portugal, 2018-2025, K $ US/unit
    2. 7.1.4.2. Dynamics of average price of product's imports to Portugal by countries, 2018-2025, K $ US/unit
2. 7.2. Imports (Mirror Data)
  1. 7.2.1. Imports - Total information
  2. 7.2.2. Imports in kind, unit
    1. 7.2.2.1. Annual dynamics of product's imports to Portugal in kind, 2018-2025, unit
    2. 7.2.2.2. Dynamics of product's imports in kind to Portugal by countries, 2018-2025, unit
    3. 7.2.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 7.2.3. Imports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's imports to Portugal in value, 2018-2025, K $ US
    2. 7.2.3.2. Dynamics of product's imports in value to Portugal by countries, 2018-2025, K $ US
    3. 7.2.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 7.2.4. Average price of product's imports, K $ US/unit
    1. 7.2.4.1. Annual dynamics of average price of product's imports to Portugal, 2018-2025, K $ US/unit
    2. 7.2.4.2. Dynamics of average price of product's imports to Portugal by countries, 2018-2025, K $ US/unit
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, unit
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, unit
  2. 8.2.2. In value, K $ US
9. Top buying and selling countries, 2018-2025
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production liquid dielectric transformers in Portugal

In value, 2018-2021, K $ US

In 2021, Portugal's output of liquid dielectric electrical transformers was valued at 55 670 thousand US dollars, marking a 1.4% increase compared to 2020.

Annual dynamics of production in Portugal in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	n/a	n/a	1.4%	-

Source: SHEV.io

In kind, 2018-2021, unit

Portugal produced 1 113 units of liquid dielectric electrical transformers in 2021, representing a significant decline of 16.3% from the previous year.

Annual dynamics of production in Portugal in kind, 2018-2021, unit

Parameter		2019	2020	2021	CAGR
1	Change from last year	n/a	n/a	(16.3%)	-

Source: SHEV.io

Exports liquid dielectric transformers from Portugal

Exports in kind, unit

Portugal's exports of liquid dielectric electrical transformers declined for the third consecutive year. In 2021, the country exported 3 552 units, indicating a 19.9% reduction compared to 2020. Over the period from 2018 to 2021, exports decreased by 95.1%, with a compound annual growth rate (CAGR) of -63.4%.

Annual dynamics of product's exports from Portugal in kind, 2018-2021, unit

Parameter		2019	2020	2021	CAGR
1	Change from last year	(92.4%)	(19.6%)	(19.9%)	(63.4%)

Source: SHEV.io

From 2018 to 2021, Angola, the United Kingdom, and the Netherlands were the main destinations for Portugal's liquid dielectric electrical transformers exports in kind. Angola accounted for 30.3% of exports, the United Kingdom for 23.5%, and the Netherlands for 12.5%, together making up 66.3% of total exports.

Structure of product's exports in kind by countries, 2018-2021

Source: SHEV.io

World map of product's exports from Portugal in kind, 2018-2021

Source: SHEV.io

Exports in value, K $ US

Portugal's export value of liquid dielectric electrical transformers declined for the third consecutive year. In 2021, exports totaled 50 181 thousand US dollars, a 13.7% reduction compared to 2020. Over the period from 2018 to 2021, exports decreased by 47.4%, with a compound annual growth rate (CAGR) of -19.3%.

Annual dynamics of product's exports from Portugal in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	(5.9%)	(35.1%)	(13.7%)	(19.3%)

Source: SHEV.io

From 2018 to 2021, the leading destinations for Portugal's liquid dielectric electrical transformers exports in value terms were the United States, the United Kingdom, and Spain. The United States accounted for 24.2% of exports, the United Kingdom for 21.8%, and Spain for 15.7%, jointly representing 61.7% of total flows.

Structure of product's exports in value by countries, 2018-2021

Source: SHEV.io

World map of product's exports from Portugal in value, 2018-2021

Source: SHEV.io

Imports liquid dielectric transformers to Portugal

Imports in kind, unit

The market for liquid dielectric electrical transformers imports in Portugal showed an unstable trend during this period. Imports hit a low in 2018 and peaked in 2019, with a 4.1-fold difference between these years. In 2021, Portugal imported 4 122 units, a significant decrease of 22.2% from the previous year. The maximum volume was recorded in 2019 at 7 552 units. The largest decline occurred in 2020 at 29.9%, while the largest increase was in 2019 at 311.1%.

Annual dynamics of product's imports to Portugal in kind, 2018-2021, unit

Parameter		2019	2020	2021	CAGR
1	Change from last year	311.1%	(29.9%)	(22.2%)	30.9%

Source: SHEV.io

From 2018 to 2021, the main sources for Portugal's liquid dielectric electrical transformers imports in kind were Spain, the Netherlands, and Germany. Spain accounted for 65.6% of imports, the Netherlands for 12.0%, and Germany for 4.4%, together comprising 82.0% of total flows.

Structure of product's imports in kind by countries, 2018-2021

Source: SHEV.io

World map of product's imports to Portugal in kind, 2018-2021

Source: SHEV.io

Imports in value, K $ US

Portugal's imports of liquid dielectric electrical transformers increased for the second consecutive year. In 2021, imports reached 35 014 thousand US dollars, which is 40.8% higher than the previous year. Over the period from 2018 to 2021, imports grew by 42.8%, with a compound annual growth rate (CAGR) of 12.6%. The minimum value was recorded in 2019 at 17 785 thousand US dollars, and the largest decline occurred in 2019 at 27.5%.

Annual dynamics of product's imports to Portugal in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	(27.5%)	39.8%	40.8%	12.6%

Source: SHEV.io

From 2018 to 2021, Spain, Germany, and China were the principal sources for Portugal's liquid dielectric electrical transformers imports in value terms. Spain accounted for 31.3% of imports, Germany for 23.0%, and China for 11.2%, jointly making up 65.5% of total flows.

Structure of product's imports in value by countries, 2018-2021

Source: SHEV.io

World map of product's imports to Portugal in value, 2018-2021

Source: SHEV.io