Belgium: Market for Electrical Boards, Panels, Consoles, Desks and Cabinets 2024

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

In 2021, the Belgian market for electrical boards, panels, consoles, desks and cabinets increased by 51% to $X, rising for the second year in a row after three years of decline. In general, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +60.4% against 2019 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

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

In value terms, electric board, desk and panel production soared to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a mild descent. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

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

Exports from Belgium

In 2021, shipments abroad of electrical boards, panels, consoles, desks and cabinets decreased by -3.3% to X units for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports saw a perceptible curtailment. The pace of growth was the most pronounced in 2020 when exports increased by 25% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, electric board, desk and panel exports rose remarkably to $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 38%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X units), Hungary (X units) and the UK (X units) were the main destinations of electric board, desk and panel exports from Belgium, together comprising 45% of total exports. These countries were followed by France, Spain, Denmark, Luxembourg, the Netherlands, the United States, Finland, South Africa and Israel, which together accounted for a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Africa (with a CAGR of +41.6%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and the UK ($X) appeared to be the largest markets for electric board, desk and panel exported from Belgium worldwide, together comprising 45% of total exports. These countries were followed by the Netherlands, Hungary, Spain, Luxembourg, Denmark, the United States, Israel, South Africa and Finland, which together accounted for a further 30%.

In terms of the main countries of destination, South Africa, with a CAGR of +34.8%, 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 average export price for electrical boards, panels, consoles, desks and cabinets amounted to $X per unit, growing by 9.7% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.2%. The growth pace was the most rapid in 2013 an increase of 47%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Denmark ($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 the Netherlands (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Belgium

In 2021, approx. X units of electrical boards, panels, consoles, desks and cabinets were imported into Belgium; increasing by 16% against the previous year. In general, total imports indicated a pronounced increase from 2012 to 2021: its volume increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +41.4% against 2018 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 31% against the previous year. Imports peaked in 2021 and are likely to see gradual 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 +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when imports increased by 21%. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, France (X units) constituted the largest supplier of electric board, desk and panel to Belgium, with a 45% share of total imports. Moreover, electric board, desk and panel imports from France exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), fourfold. The third position in this ranking was held by Germany (X units), with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France amounted to +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+0.1% per year) and Germany (-5.9% per year).

In value terms, France ($X) constituted the largest supplier of electrical boards, panels, consoles, desks and cabinets to Belgium, comprising 30% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 12% share of total imports. It was followed by Germany, with a 9.2% share.

From 2012 to 2021, the average annual growth rate of value from France amounted to +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-4.0% per year) and Germany (-7.0% per year).

Import Prices by Country

The average import price for electrical boards, panels, consoles, desks and cabinets stood at $X per unit in 2021, increasing by 3.5% against the previous year. Over the period under review, the import price, however, continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2018 an increase of 6.1%. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Czech Republic ($X per unit), while the price for Serbia ($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 Czech Republic (+14.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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