China: Circuit Breaker Market 2024

Circuit Breaker Market Size in China

In 2022, the Chinese circuit breaker market decreased by -19% to $X, falling for the second consecutive year after seven years of growth. Over the period under review, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -32.9% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Circuit Breaker Production in China

In value terms, circuit breaker production expanded modestly to $X in 2022 estimated in export price. Overall, the total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.2% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 19%. Circuit breaker production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Circuit Breaker Exports

Exports from China

In 2022, circuit breaker exports from China surged to X units, growing by 55% compared with the previous year. Overall, exports continue to indicate a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, circuit breaker exports rose significantly to $X in 2022. Over the period under review, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +73.8% against 2016 indices. The pace of growth was the most pronounced in 2021 when exports increased by 37%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Russia (X units), Brazil (X units) and Turkey (X units) were the main destinations of circuit breaker exports from China, with a combined 35% share of total exports. Malaysia, the UK, India, Thailand, Vietnam, Singapore, South Korea, Argentina, Pakistan and the United States lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +19.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for circuit breaker exported from China were Russia ($X), Brazil ($X) and the UK ($X), with a combined 19% share of total exports. The United States, Turkey, Singapore, Vietnam, India, Thailand, South Korea, Malaysia, Argentina and Pakistan lagged somewhat behind, together comprising a further 27%.

Vietnam, with a CAGR of +17.7%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average circuit breaker export price stood at $X per unit in 2022, shrinking by -30.7% against the previous year. In general, the export price recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2014 when the average export price increased by 16%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (-0.1%), while the prices for the other major destinations experienced a decline.

Circuit Breaker Imports

Imports into China

In 2022, overseas purchases of automatic circuit breakers increased by 72% to X units, rising for the second consecutive year after two years of decline. In general, imports saw resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, circuit breaker imports expanded sharply to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 9.8% against the previous year. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Japan (X units) constituted the largest supplier of circuit breaker to China, accounting for a 38% share of total imports. Moreover, circuit breaker imports from Japan exceeded the figures recorded by the second-largest supplier, Germany (X units), fivefold. The third position in this ranking was held by South Korea (X units), with a 4.4% share.

From 2012 to 2022, the average annual growth rate of volume from Japan stood at +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.3% per year) and South Korea (+4.6% per year).

In value terms, the largest circuit breaker suppliers to China were Japan ($X), Germany ($X) and Italy ($X), together accounting for 41% of total imports. Mexico, South Korea, the United States, France, Thailand, Poland, Romania, India and Lesotho lagged somewhat behind, together accounting for a further 32%.

Mexico, with a CAGR of +20.3%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average circuit breaker import price stood at $X per unit in 2022, shrinking by -38.4% against the previous year. Overall, the import price continues to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2016 when the average import price increased by 35% against the previous year. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Poland ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :