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

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

In 2021, after six years of growth, there was decline in the Asia-Pacific market for electrical boards, panels, consoles, desks and cabinets, when its value decreased by -0.4% to $X. The total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then reduced in the following year.

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

In value terms, electric board, desk and panel production declined slightly to $X in 2021 estimated in export price. The total production indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +52.8% against 2012 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 18% against the previous year. The level of production peaked at $X in 2020, and then contracted modestly in the following year.

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

Exports in Asia-Pacific

In 2021, after two years of decline, there was significant growth in shipments abroad of electrical boards, panels, consoles, desks and cabinets, when their volume increased by 27% to X units. The total export volume increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, electric board, desk and panel exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the largest exporting country with an export of around X units, which reached 55% of total exports. India (X units) took a 21% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (8.5%) and South Korea (4.7%). The following exporters - Singapore (X units) and Malaysia (X units) - each resulted at a 5.6% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to electric board, desk and panel exports from China stood at +5.6%. At the same time, South Korea (+15.8%), Thailand (+2.6%), India (+2.4%) and Malaysia (+1.3%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +15.8% from 2012-2021. Singapore experienced a relatively flat trend pattern. While the share of China (+6.3 p.p.) and South Korea (+2.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of India (-3.4 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 Asia-Pacific were China ($X), India ($X) and South Korea ($X), together comprising 72% of total exports.

In terms of the main exporting countries, South Korea, with a CAGR of +8.4%, 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

In 2021, the export price in Asia-Pacific amounted to $X per unit, picking up by 5% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 10%. 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.

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 ($X per unit), while China ($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-Pacific

In 2021, overseas purchases of electrical boards, panels, consoles, desks and cabinets increased by 26% to X units for the first time since 2018, thus ending a two-year declining trend. Total imports indicated resilient growth 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 most prominent rate of growth was recorded in 2017 with an increase of 33% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, electric board, desk and panel imports soared to $X in 2021. The total import value increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India was the main importer of electrical boards, panels, consoles, desks and cabinets in Asia-Pacific, with the volume of imports finishing at X units, which was near 33% of total imports in 2021. It was distantly followed by South Korea (X units), Australia (X units), Vietnam (X units), Japan (X units) and Singapore (X units), together mixing up a 40% share of total imports. The following importers - Thailand (X units), the Philippines (X units), Indonesia (X units), Hong Kong SAR (X units), Malaysia (X units), Taiwan (Chinese) (X units) and China (X units) - together made up 20% of total imports.

Imports into India increased at an average annual rate of +22.7% from 2012 to 2021. At the same time, Vietnam (+30.2%), South Korea (+14.0%), the Philippines (+11.2%), Australia (+7.5%), Thailand (+7.5%), Taiwan (Chinese) (+6.1%) and Indonesia (+2.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +30.2% from 2012-2021. Japan, Singapore and Malaysia experienced a relatively flat trend pattern. By contrast, China (-3.3%) and Hong Kong SAR (-14.7%) illustrated a downward trend over the same period. India (+24 p.p.), Vietnam (+6.6 p.p.) and South Korea (+4.5 p.p.) significantly strengthened its position in terms of the total imports, while China, Malaysia, Japan, Singapore and Hong Kong SAR saw its share reduced by -2.1%, -2.1%, -4.8%, -5.4% and -18.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported electrical boards, panels, consoles, desks and cabinets in Asia-Pacific, comprising 28% of total imports. The second position in the ranking was held by China ($X), with a 9.7% share of total imports. It was followed by South Korea, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in India stood at +11.6%. In the other countries, the average annual rates were as follows: China (-0.2% per year) and South Korea (+5.6% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2021, approximately reflecting the previous year. In general, the import price saw a slight contraction. The pace of growth appeared the most rapid in 2013 when the import price increased by 13% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2016; however, from 2017 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 China ($X per unit), while Hong Kong SAR ($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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