ASEAN: Market for Electrical Boards, Panels, Consoles, Desks and Cabinets 2025

Market Size for Electrical Boards, Panels, Consoles, Desks and Cabinets in ASEAN

In 2021, the ASEAN market for electrical boards, panels, consoles, desks and cabinets decreased by -0.3% to $X, falling for the second consecutive year after three years of growth. The total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -9.8% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Electrical Boards, Panels, Consoles, Desks and Cabinets in ASEAN

In value terms, electric board, desk and panel production expanded slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the production volume increased by 17%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Electrical Boards, Panels, Consoles, Desks and Cabinets

Exports in ASEAN

In 2021, overseas shipments of electrical boards, panels, consoles, desks and cabinets increased by 24% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports showed noticeable growth. The pace of growth appeared the most rapid in 2016 with an increase of 45%. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, electric board, desk and panel exports stood at $X in 2021. Overall, exports recorded slight growth. The most prominent rate of growth was recorded in 2016 with an increase of 46% against the previous year. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Thailand represented the main exporting country with an export of about X units, which finished at 56% of total exports. Singapore (X units) ranks second in terms of the total exports with a 19% share, followed by Malaysia (18%) and Vietnam (5.4%).

From 2012 to 2021, average annual rates of growth with regard to electric board, desk and panel exports from Thailand stood at +2.6%. At the same time, Vietnam (+15.1%) and Malaysia (+1.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +15.1% from 2012-2021. Singapore experienced a relatively flat trend pattern. While the share of Vietnam (+3.6 p.p.) and Thailand (+2.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest electric board, desk and panel supplying countries in ASEAN were Thailand ($X), Malaysia ($X) and Singapore ($X), together accounting for 91% of total exports. Vietnam lagged somewhat behind, comprising a further 6.7%.

Vietnam, with a CAGR of +14.7%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per unit, declining by -7.2% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 9.7% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+3.3%), while the other leaders experienced mixed trends in the export price figures.

Imports of Electrical Boards, Panels, Consoles, Desks and Cabinets

Imports in ASEAN

In 2021, the amount of electrical boards, panels, consoles, desks and cabinets imported in ASEAN expanded rapidly to X units, surging by 9.6% compared with 2020 figures. Total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -6.4% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 50% against the previous year. The volume of import peaked at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, electric board, desk and panel imports rose sharply to $X in 2021. Total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +63.5% against 2016 indices. The pace of growth was the most pronounced in 2017 when imports increased by 42%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

Vietnam (X units) and Singapore (X units) were the largest importers of electrical boards, panels, consoles, desks and cabinets in 2021, accounting for approx. 27% and 23% of total imports, respectively. It was distantly followed by Thailand (X units), the Philippines (X units), Indonesia (X units) and Malaysia (X units), together achieving a 46% share of total imports. Lao People's Democratic Republic (X units) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +30.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest electric board, desk and panel importing markets in ASEAN were Vietnam ($X), Thailand ($X) and Singapore ($X), together comprising 65% of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of +24.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per unit, with an increase of 4.8% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the import price increased by 13%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per unit), while Lao People's Democratic Republic ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+7.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform