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

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

The Asian market for electrical boards, panels, consoles, desks and cabinets rose modestly to $X in 2021, growing by 1.7% against the previous year. The total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -7.6% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

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

In value terms, electric board, desk and panel production expanded significantly to $X in 2021 estimated in export price. Over the period under review, production recorded a prominent increase. The growth pace was the most rapid in 2018 with an increase of 25%. The level of production peaked 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 Asia

In 2021, overseas shipments of electrical boards, panels, consoles, desks and cabinets were finally on the rise to reach X units after two years of decline. Total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, electric board, desk and panel exports surged to $X in 2021. The total export value increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the major exporter of electrical boards, panels, consoles, desks and cabinets in Asia, with the volume of exports amounting to X units, which was near 40% of total exports in 2021. Turkey (X units) took a 22% share (based on physical terms) of total exports, which put it in second place, followed by India (15%) and Thailand (6.1%). South Korea (X units), the United Arab Emirates (X units) and Singapore (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +20.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest electric board, desk and panel supplying countries in Asia were China ($X), India ($X) and Turkey ($X), together comprising 66% of total exports.

Among the main exporting countries, Turkey, with a CAGR of +16.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per unit in 2021, remaining relatively unchanged against the previous year. Overall, the export price, however, showed a slight decline. The most prominent rate of growth was recorded in 2016 an increase of 8%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+4.4%), while the other leaders experienced more modest paces of growth.

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

Imports in Asia

After two years of decline, supplies from abroad of electrical boards, panels, consoles, desks and cabinets increased by 31% to X units in 2021. Total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by 36%. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, electric board, desk and panel imports surged to $X in 2021. The total import value increased at an average annual rate of +4.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

India (X units) and the United Arab Emirates (X units) were the main importers of electrical boards, panels, consoles, desks and cabinets in 2021, amounting to approx. 21% and 18% of total imports, respectively. It was distantly followed by South Korea (X units), Turkey (X units), Vietnam (X units) and Japan (X units), together constituting a 22% share of total imports. Singapore (X units), Iraq (X units), Oman (X units), Thailand (X units), the Philippines (X units), Israel (X units) and Indonesia (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Vietnam (with a CAGR of +30.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), the United Arab Emirates ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 36% of total imports. These countries were followed by Japan, Turkey, Vietnam, Thailand, Singapore, Indonesia, the Philippines, Israel, Oman and Iraq, which together accounted for a further 28%.

Vietnam, with a CAGR of +24.0%, recorded the highest rates of growth with regard to 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 Asia stood at $X per unit in 2021, shrinking by -3.9% against the previous year. Overall, the import price recorded a mild decline. The growth pace was the most rapid in 2020 when the import price increased by 12% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

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