ASEAN: Isolating Switch Market 2024

Isolating Switch Market Size in ASEAN

In 2022, the ASEAN isolating switch market decreased by -5.3% to $X, falling for the third consecutive year after six years of growth. Overall, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Isolating Switch Production in ASEAN

In value terms, isolating switch production rose sharply to $X in 2022 estimated in export price. Over the period under review, production, however, saw a pronounced descent. The pace of growth appeared the most rapid in 2019 when the production volume increased by 75%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Isolating Switch Exports

Exports in ASEAN

After two years of growth, shipments abroad of isolating switches & make-and-break switches decreased by -7.1% to X units in 2022. In general, exports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 50%. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, isolating switch exports amounted to $X in 2022. Over the period under review, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 55%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Thailand (X units) represented the largest exporter of isolating switches & make-and-break switches, mixing up 59% of total exports. Vietnam (X units) took the second position in the ranking, distantly followed by Singapore (X units) and Indonesia (X units). All these countries together took near 40% share of total exports. Malaysia (X units) followed a long way behind the leaders.

Exports from Thailand increased at an average annual rate of +23.9% from 2012 to 2022. At the same time, Indonesia (+27.0%) and Vietnam (+13.2%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +27.0% from 2012-2022. By contrast, Malaysia (-9.1%) and Singapore (-25.5%) illustrated a downward trend over the same period. While the share of Thailand (+55 p.p.), Vietnam (+22 p.p.) and Indonesia (+4.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (-80.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest isolating switch supplier in ASEAN, comprising 56% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 22% share of total exports. It was followed by Singapore, with a 17% share.

In Thailand, isolating switch exports increased at an average annual rate of +21.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+9.1% per year) and Singapore (-19.4% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, surging by 8.8% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 24%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+8.2%), while the other leaders experienced mixed trends in the export price figures.

Isolating Switch Imports

Imports in ASEAN

In 2022, after three years of decline, there was growth in supplies from abroad of isolating switches & make-and-break switches, when their volume increased by 3.6% to X units. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 66%. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, isolating switch imports declined to $X in 2022. Over the period under review, imports, however, saw a mild shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 58% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Vietnam (X units), distantly followed by Indonesia (X units), Thailand (X units), Malaysia (X units), Myanmar (X units), Lao People's Democratic Republic (X units) and the Philippines (X units) represented the largest importers of isolating switches & make-and-break switches, together achieving 94% of total imports.

From 2012 to 2022, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of +50.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Thailand ($X) and Indonesia ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 70% of total imports. Malaysia, the Philippines, Myanmar and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further 23%.

Myanmar, with a CAGR of +37.8%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2022, falling by -17.3% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 19% against the previous year. As a result, import price reached the peak level of $X per unit, and then dropped notably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+11.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform