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In 2022, China's transformer exports reached a record CNY64.6 billion (USD8.9 billion), up 36% year-on-year, driven by the growth of AI computing power. The average price per unit increased to CNY205,000 (USD28,200).

China produces about 60% of global transformers and has a robust supply chain. Major importing regions include Southeast Asia, Europe, the Middle East, and Africa. The International Energy Agency forecasts that global data center power demand will double by 2030, contributing to a projected 30% supply gap for transformers. China's manufacturing capabilities and technological advancements are expected to maintain strong export growth.