Mexico was the largest exporter with 24% of the world total, and the United States was the largest buyer.
What this market covers
Electrical transformers cooled by air and insulated with resin instead of oil, used where fire safety matters. Buildings, hospitals, data centres and renewable plants install them for distribution.
Typical segments
- Cast resin transformers
- Vacuum pressure impregnated units
- Low voltage units
- Medium voltage units
Why this market is moving now
- World trade grew 81% from 2019 to 2024, a direct read on cross-border demand.
- South Korea is gaining ground: its exports rose 389% from 2019 to 2024, the fastest among the ten largest exporters.
Key figures
Global figures for this market, with the year each one describes. Use Cite to copy a reference to this page.
| Figure | Value | Year | Cite |
|---|---|---|---|
| World exports of transformers having a power handling capacity > 16 kVA but <= 500 kVA (HS 850433), the trade category that includes dry type transformer, were worth $2.14 billion in 2024. | 2.14 USD billion | 2024 | |
| World exports were 81% higher in 2024 than in 2019 ($1.18 billion), calculated from the annual totals. | +81 % since 2019 | 2024 | |
| Mexico was the largest exporter in 2024, with 24% of world exports ($512.9 million). | 24 % of world exports | 2024 | |
| The three largest exporters, Mexico, China and Germany, shipped 46% of world exports in 2024. | 46 % of world exports | 2024 | |
| The United States was the largest importer in 2024, buying $801.7 million, or 37% of world imports. | 37 % of world imports | 2024 | |
| 58 countries exported more than $1 million of this product in 2024. | 58 countries | 2024 | |
| The average world export price was about $14.12 per kilogram in 2024, calculated from value and weight. | 14.12 USD per kg | 2024 | |
| Countries exported 151.8 thousand tonnes of this product in 2024. | 151.8 thousand tonnes | 2024 | |
| Among the ten largest exporters, South Korea grew fastest, with exports up 389% from 2019 to 2024. | +389 % since 2019 | 2024 |
Calculated figures (shares, changes and prices per kilogram) are plain arithmetic on the reported values. Read how we work.
Buyers and suppliers
Who buys
- Commercial building owners
- Utilities
- Industrial plants
Largest exporting countries, 2024
Largest importing countries, 2024
What the full report covers
- 01Executive summary
The answer in one page: size, direction and what moves it - 02Market definition and scope
What is in and out of the global market - 03Global market size, 2021 to 2025
Historical series and growth rates - 04Countries and regions
Demand, supply and trade by country and region - 05Outlook to 2031
Base, low and high scenarios with stated assumptions - 06Rules, policy and deadlines
Regulation and programmes that change demand - 07Drivers and barriers
What accelerates or slows adoption, by customer segment - 08Prices, costs and margins
Unit economics where public data allows - 09Competitive landscape
8 to 12 company profiles with recent moves - 10Opportunities and risks
For new entrants, suppliers and investors - 11Method and assumptions
How every figure was built
Included with the full report
- PDF report, 40 to 60 pages
- Excel data pack
- Ready-to-use charts
- Method note and assumptions
- Written to order in 5 working days
Frequently asked questions
How big is the global dry type transformer market?
There is no single official market total. World exports of HS 850433 reached $2.14 billion in 2024, a direct measure of cross-border trade.
Which countries export the most dry type transformer?
Mexico led world exports in 2024 with 24% of the total, followed by China, Germany and the United States.
Which countries import the most dry type transformer?
The United States was the largest importer in 2024, followed by Canada, Germany and the United Kingdom.
Is world trade in dry type transformer growing?
World exports were 81% higher in 2024 than in 2019.
What is the average export price of dry type transformer?
Dividing world export value by weight gives about $14.12 per kilogram in 2024.
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