China: Electrical Circuit Apparatus Market 2022

Electrical Circuit Apparatus Market Size in China

In 2021, the Chinese electrical circuit apparatus market decreased by -11.8% to $X for the first time since 2011, thus ending a nine-year rising trend. Over the period under review, the total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020, and then reduced in the following year.

Electrical Circuit Apparatus Production in China

In value terms, electrical circuit apparatus production shrank to $X in 2021 estimated in export price. Over the period under review, the total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.1% 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 +56.9% against 2012 indices. The most prominent rate of growth was recorded in 2014 with an increase of 15% against the previous year. Electrical circuit apparatus production peaked at $X in 2020, and then dropped slightly in the following year.

Electrical Circuit Apparatus Exports

Exports from China

In 2021, exports of electrical apparatus for circuit connection, switching and protection from China surged to X tons, picking up by 22% compared with the previous year's figure. Over the period under review, total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +78.5% against 2012 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, electrical circuit apparatus exports surged to $X in 2021. In general, total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +56.7% against 2014 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for electrical circuit apparatus exports from China, with a 13% share of total exports. Moreover, electrical circuit apparatus exports to the United States exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), twofold. Russia (X tons) ranked third in terms of total exports with a 4.1% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-2.8% per year) and Russia (+5.2% per year).

In value terms, the largest markets for electrical circuit apparatus exported from China were Hong Kong SAR ($X), the United States ($X) and Vietnam ($X), together accounting for 40% of total exports.

Among the main countries of destination, Vietnam, with a CAGR of +36.3%, saw 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 electrical circuit apparatus export price amounted to $X per ton, with an increase of 5.8% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average export price increased by 7.4% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Circuit Apparatus Imports

Imports into China

In 2021, after four years of decline, there was significant growth in purchases abroad of electrical apparatus for circuit connection, switching and protection, when their volume increased by 42% to X tons. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, electrical circuit apparatus imports soared to $X in 2021. The total import value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Japan (X tons), South Korea (X tons) and Germany (X tons) were the main suppliers of electrical circuit apparatus imports to China, with a combined 54% share of total imports. These countries were followed by Taiwan (Chinese), the United States, Vietnam, Mexico, Thailand, the Czech Republic, Malaysia, France, Indonesia and Italy, which together accounted for a further 32%.

From 2012 to 2021, the biggest increases were in Vietnam (with a CAGR of +21.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of electrical circuit apparatus to China, comprising 33% of total imports. The second position in the ranking was taken by Germany ($X), with a 12% share of total imports. It was followed by South Korea, with a 9.3% share.

From 2012 to 2021, the average annual growth rate of value from Japan stood at +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.5% per year) and South Korea (-1.5% per year).

Import Prices by Country

The average electrical circuit apparatus import price stood at $X per ton in 2021, increasing by 13% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 21%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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