Transformer demand recovery is 'slow and patchy'
Dry transformers producer Tesar states demand not yet recovered
Demand for electricity transformers is still not back to pre-crisis levels, with the recovery slow and patchy across the Middle East, according to an industry insider.
“In the past ten months I don’t think much has improved,” said Suresh Madhav, regional manager for Tesar, a producer of dry transformers. “Our order book is reasonable enough, but it’s not as good as it was in 2007. We are almost 30% off those levels.”
Italian-based Tesar is hoping for a full recovery within a year’s time, according to Madhav.
While some countries, such as Saudi Arabia, have not been affected by the crisis at all, business in some markets has been lagging.
“Dubai is quite cold at the moment,” said Madhav, whose company has been active in the Emirate for the last 20 years, and recorded a brisk trade there up until 2008.
But there are positive developments in the region. “The GCC growth areas are firstly Abu Dhabi, then Qatar, and then Oman,” said Madhav. Demand in these countries ensures that the Middle East remains a hugely important market for transformers. Tesar sells more than half their exports into the region.