Transformers serve as the core power equipment for electricity transmission and distribution, representing essential infrastructure for global energy transition, grid modernization, and the construction of new-type power systems. Currently, global AI computing infrastructure is entering an explosive growth period, with high-power, highly stable power supply becoming the "lifeline" for computing clusters. Power equipment transformers are now evolving into the core of computing infrastructure.

       According to customs data, from January to December 2025, China exported 2.982 billion transformers (HS Code: 85043190, transformers with rated capacity ≤1kVA not elsewhere specified), with an export value of $1.595 billion, representing year-on-year increases of 129 million units (4.56%) and $78.14 million (5.15%) respectively.

By export destination, Hong Kong was China's largest transformer export market from January to December 2025, with export value reaching $413 million, followed by Vietnam and the United States at $202 million and $147 million respectively.

       In terms of market size, there are four markets with export value exceeding $100 million—Hong Kong, Vietnam, the United States, and Japan—which constitute China's core export markets. There are 16 markets in the $10-100 million range, including Mexico, South Korea, Germany, the Philippines, and Russia. These markets serve as key supporting markets with favorable development trends and significant growth potential. Over 150 countries and regions have markets smaller than $10 million. Although individual volumes are modest, their collective presence forms a noteworthy market segment that may unleash substantial demand in the future.

       Notably, exports to Thailand grew 34.21% from January to December 2025. Under the influence of population growth, accelerated urbanization, and expanding industrial production scale, Thailand's electricity demand is increasing daily. The Thai government is vigorously promoting infrastructure construction while advancing grid upgrades and energy structure transformation, generating substantial transformer demand. China's transformer industry holds significant advantages, and with the advancement of China-Thailand trade facilitation further removing export barriers, large-scale export growth has been driven.

       By individual country, from January to December 2025, China exported transformers to 203 countries and regions, an increase of two compared to the same period in 2024. Nearly 60% of markets recorded positive year-on-year export growth. Among the top 20 export markets, seven showed export value growth exceeding 10%.

       From a regional trade perspective, Asia is the primary destination for China's transformer exports, accounting for 68.81% of total export volume. From January to December 2025, exports to the six continents were as follows: Asia $1.098 billion, up 10.04%; Latin America $114 million, up 6.02%; Africa $17.55 million, up 25.74%. Declining export regions included: Europe $199 million, down 5.57%; North America $161 million, down 10.08%; and Oceania $6.56 million, down 22.80%.

       In 2025, China's transformer exports to Belt and Road countries reached $741 million, up 6.34% year-on-year. Madagascar recorded the largest annual increase at 2,951.77%, while the Solomon Islands showed the largest decline at 99.81%. These contrasting trends highlight the varying development patterns in transformer trade among Belt and Road countries. With the continued advancement of the Belt and Road Initiative, China's transformer market prospects in these countries are expected to broaden further, with trade scale continuing to expand.

       In 2025, China's transformer exports to RCEP countries totaled $489 million, up 0.80% year-on-year. Brunei recorded the largest increase at 1,500.90%, while the top three declining countries were Laos, New Zealand, and Singapore.

       Data shows that Asian countries such as Vietnam and Japan are the primary destinations for China's transformer exports. These countries are experiencing rapid economic development with growing electricity demand, providing vast development space for the transformer market. Meanwhile, Chinese transformers maintain strong competitiveness in Asian markets due to their cost-effectiveness and reliable quality. With sustained economic development and increasing electricity demand in Asia, China's export prospects in Asian markets remain promising.

       Additionally, Southern and Northern Europe represent markets with considerable potential. As energy structure adjustments and grid upgrades advance in these regions, Chinese transformers are well-positioned to leverage their advantages to further penetrate North and South European markets, generating new export growth points.

       Transformer enterprises should focus on markets including Vietnam, Mexico, Thailand, Malaysia, Italy, Indonesia, France, North Macedonia, Czech Republic, Finland, Austria, Belgium, and Tanzania.

       Looking ahead, with continuous upgrades in AI computing industries and accelerated development of new energy generation and new-type power system construction, transformer market demand will continue to increase with expanding application scenarios. Chinese transformer enterprises' accumulated advantages in complete industrial chains, core technologies, and large-scale delivery will become even more prominent.

       Global energy transition and grid modernization are driving expansion in transformer industry demand, but the industry also faces multiple challenges. As the global core producer and exporter of transformers, China must not only monitor the latest international trade data but also achieve transformation from a production capacity powerhouse to an industrial strength through supply chain globalization, advanced R&D, product differentiation, and regulatory compliance, securing a dominant position in the global energy transition wave.

       As China's first data company, Guomaotong provides import and export customs data for over 90 countries from 2010 to present. It can accurately analyze market distribution and transaction details of import and export enterprises online, and analyze transaction volumes, prices, and supply cycles. It offers reliable data for foreign trade enterprises and industry consulting firms.

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