Non-liquid dielectric transformers market in Croatia

Earlier Report Observations

The Croatian market for non-liquid dielectric transformers was shaped by the presence of the state-owned producer Končar, which manufactures high-voltage units for power generation and grid connection. In 2020, the COVID-19 pandemic disrupted supply chains and increased costs for critical inputs like steel, copper, and aluminum, contributing to a decline in market volume to 3 031 thousand units.

Market volume recovered strongly in 2021, rising by 27.7% to 3 871 thousand units, and reached a peak of 4 184 thousand units in 2022. In value terms, the market grew from $10.4 million in 2020 to $13.9 million in 2022, reflecting broader industry expansion during this period.

By 2024, physical market volume had fallen to 3 096 thousand units, influenced by an estimated drop in electricity consumption linked to lower sales of electric vehicles and heat pumps, which reduced demand for transformers. However, the market's value surged to $24.3 million, coinciding with Končar reporting above-average revenue growth and a record order book, signaling increased activity in higher-value transformer segments.

Production non-liquid dielectric transformers in Croatia

In value, 2017-2020, K $ US

Croatia's production of non-liquid dielectric transformers has increased for the third consecutive year. In 2020, the output was valued at 32 828 thousand US dollars, marking a notable rise of 10.1% compared to 2019. Over the period from 2017 to 2020, production grew by 17.9%, with a compound annual growth rate of 5.6%.

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

In kind, 2017-2020, K unit

Croatia's production of non-liquid dielectric transformers has declined for the second consecutive year. In 2020, 694.2 thousand units were produced, which is 4.2% less than in the previous year. Over the period from 2017 to 2020, production increased by 4.9%, with a compound annual growth rate of 1.6%. The highest production volume was recorded in 2018 at 798.0 thousand units. The largest decline occurred in 2019, with a drop of 9.2%, while the largest increase was in 2018, with a rise of 20.6%.

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

Exports non-liquid dielectric transformers from Croatia

Exports in kind, K unit

After a two-year decline, exports of non-liquid dielectric transformers from Croatia have increased. In 2020, the export volume stood at 116 thousand units, representing a substantial uptick of 19.9% year-over-year. Between 2017 and 2020, exports decreased by 15.2%, equating to an annualized rate of 5.4%. The lowest export volume was recorded in 2019 at 97 thousand units, with the largest decline also occurring in 2019 at 19.9%.

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

Throughout the period from 2017 to 2020, Italy played the leading role in exports in kind, accounting for 74.6% of total flows, while other markets together made up the remainder.

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, K $ US

Exports of non-liquid dielectric transformers from Croatia have increased for the third consecutive year. In 2020, Croatia exported 30 369 thousand US dollars worth of these transformers, representing a moderate increase of 8.7% relative to the prior year. Over the period from 2017 to 2020, exports grew by 16.9%, with a compound annual growth rate of 5.3%.

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

During 2017–2020, Australia, the United States, and Poland were important buyers of non-liquid dielectric transformers from Croatia in value terms, with shares of 13.0%, 8.4%, and 7.4% of total exports, respectively. However, their combined share reached only 28.8% of total exports, with the remaining 71.2% distributed among many other partners.

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

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

Imports non-liquid dielectric transformers to Croatia

Imports in kind, K unit

Imports of non-liquid dielectric transformers into Croatia have declined for the second consecutive year. In 2020, imports came to 2 453 thousand units, amounting to a moderate decrease of 4.3% versus the previous year. Between 2017 and 2020, imports increased by 16.7%, equating to an annualized rate of 5.3%. The highest import volume was recorded in 2018 at 2 610 thousand units, with the largest increase also occurring in 2018 at 24.1%.

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

In 2017–2020, the country structure of imports in kind was strongly focused on Italy, whose share reached 88.3% of total flows, with other partners accounting for the remaining volume.

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, K $ US

The volume of non-liquid dielectric transformers imports into Croatia has declined for the third consecutive year. In 2020, imports amounted to 7 912 thousand US dollars, showing no significant change compared to 2019. Between 2017 and 2020, imports decreased by 9.6%, equating to an annualized rate of 3.3%.

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

In 2017–2020, Italy, Germany, and Slovenia consistently remained the main destinations for imports in value terms, with shares of 42.0%, 20.1%, and 5.7% of total imports, respectively. Together, they accounted for 67.8% of total flows.

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

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