Overview of the Market for Power, Distribution And Specialty Transformer in the USA

In 2019, the U.S. market for power, distribution, and specialty transformers increased by % to $, rising for the second consecutive year after three years of decline. The market value increased at an average annual rate of +% over the period from 2013 to 2019; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2018 when the market value increased by % against the previous year. Over the period under review, the market hit record highs in 2019 and is likely to see gradual growth in the near future.

In value terms, power, distribution and specialty transformer production reduced modestly to $ in 2019. Over the period under review, production showed a slight setback. The growth pace was the most rapid in 2014 when the production volume decreased by -% year-to-year. Power, distribution and specialty transformer production peaked at $ in 2013; however, from 2014 to 2019, production stood at a somewhat lower figure.

After two years of growth, consumption of power, distribution, and specialty transformers decreased by -% to units in 2019. In general, the total consumption indicated a resilient expansion from 2013 to 2019: its volume increased at an average annual rate of +% over the last six years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +% against 2014 indices. The most prominent rate of growth was recorded in 2015 when the consumption volume increased by % year-to-year. Power, distribution and specialty transformer consumption peaked at units in 2018, and then contracted in the following year.

The value of the market for power, distribution, and specialty transformers in the U.S. expanded slightly to $ in 2019, growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2013 to 2019; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the market value increased by % against the previous year. Power, distribution and specialty transformer consumption peaked in 2019 and is expected to retain growth in years to come.

Driven by increasing demand for power, distribution and specialty transformer in the U.S., the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to units by the end of .

Driven by a growing demand, the share of imports in total supply in the U.S. increased significantly over the last six-year period (from % to %).

The U.S. remains a net importer of power, distribution and specialty transformer; in physical and value terms, imports consistently exceeded exports from 2013 to 2019. In 2019, there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.