Bangladesh: Market for Electric Burglar Or Fire Alarms And Similar Apparatus 2024

Market Size for Electric Burglar Or Fire Alarms And Similar Apparatus in Bangladesh

In 2021, the Bangladeshi market for electric burglar or fire alarms and similar apparatus was finally on the rise to reach $X after three years of decline. Over the period under review, consumption enjoyed a significant increase. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Exports of Electric Burglar Or Fire Alarms And Similar Apparatus

Exports from Bangladesh

Electric burglar or fire alarm exports from Bangladesh skyrocketed to X units in 2021, rising by 13,832% on the year before. In general, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, electric burglar or fire alarm exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 724% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for electric burglar or fire alarm exports from Bangladesh, with a 2.6% share of total exports. Moreover, electric burglar or fire alarm exports to the United States exceeded the volume sent to the second major destination, Chile (X units), tenfold. India (X units) ranked third in terms of total exports with a 0.1% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +53.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+1.3% per year) and India (+8.0% per year).

In value terms, the United States ($X) remains the key foreign market for electric burglar or fire alarms and similar apparatus exports from Bangladesh, comprising 60% of total exports. The second position in the ranking was taken by Chile ($X), with a 5.3% share of total exports. It was followed by India, with a 0.8% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +74.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-1.2% per year) and India (+27.6% per year).

Export Prices by Country

In 2021, the average export price for electric burglar or fire alarms and similar apparatus amounted to $X per unit, which is down by -97.8% against the previous year. In general, the export price faced a sharp slump. The most prominent rate of growth was recorded in 2014 an increase of 104%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to Spain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+25.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electric Burglar Or Fire Alarms And Similar Apparatus

Imports into Bangladesh

In 2021, overseas purchases of electric burglar or fire alarms and similar apparatus were finally on the rise to reach X units after three years of decline. In general, imports recorded significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, electric burglar or fire alarm imports soared to $X in 2021. Overall, imports recorded a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 342% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Singapore (X units) and Italy (X units) were the main suppliers of electric burglar or fire alarm imports to Bangladesh, with a combined 46% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +50.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), China ($X) and the United Arab Emirates ($X) appeared to be the largest electric burglar or fire alarm suppliers to Bangladesh, with a combined 45% share of total imports. These countries were followed by the UK, Italy and India, which together accounted for a further 15%.

Among the main suppliers, Italy, with a CAGR of +45.0%, saw 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 average import price for electric burglar or fire alarms and similar apparatus amounted to $X per unit, reducing by -25.1% against the previous year. In general, import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, electric burglar or fire alarm import price decreased by -40.6% against 2016 indices. The most prominent rate of growth was recorded in 2014 an increase of 57%. Over the period under review, average import prices attained the maximum at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+27.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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