Goldman Sachs Says China Transformer Exports Jumped in June, with U.S. Shipments Up 172%
Goldman Sachs data show that China’s June exports of transformers above 10MVA rose 47% from a year earlier.
Goldman Sachs data show that China’s June exports of transformers above 10MVA rose 47% from a year earlier. Exports to the U.S. increased 172% year over year and 52% from the prior month.
The note says the U.S. transformer supply-demand gap is expected to narrow to 57% by 2028, but shortages would still remain. It also says Chinese manufacturers can deliver in six to nine months and expand capacity in about one year. Goldman Sachs names Siyuan Electric, Guodian NARI, and Huaming as beneficiaries and says the market may be underestimating how quickly Chinese suppliers can expand in the U.S. market.
The note says the U.S. transformer supply-demand gap is expected to narrow to 57% by 2028, but shortages would still remain. It also says Chinese manufacturers can deliver in six to nine months and expand capacity in about one year. Goldman Sachs names Siyuan Electric, Guodian NARI, and Huaming as beneficiaries and says the market may be underestimating how quickly Chinese suppliers can expand in the U.S. market.