Europe: Electrical Insulator Market 2024

Electrical Insulator Market Size in Europe

In 2022, the Europe electrical insulator market decreased by -6.6% to $X, falling for the second consecutive year after two years of growth. In general, consumption enjoyed buoyant growth. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Electrical Insulator Production in Europe

In value terms, electrical insulator production stood at $X in 2022 estimated in export price. Over the period under review, production showed a prominent increase. The pace of growth was the most pronounced in 2017 with an increase of 31% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Electrical Insulator Exports

Exports in Europe

In 2022, exports of electrical insulators in Europe fell modestly to X units, which is down by -3% on 2021. The total export volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 20%. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, electrical insulator exports shrank to $X in 2022. Overall, exports continue to indicate a slight contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 6.5% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Italy represented the largest exporter of electrical insulators in Europe, with the volume of exports reaching X units, which was approx. 53% of total exports in 2022. It was distantly followed by Spain (X units) and Ukraine (X units), together constituting a 42% share of total exports.

Italy experienced a relatively flat trend pattern with regard to volume of exports of electrical insulators. At the same time, Spain (+10.5%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing exporter exported in Europe, with a CAGR of +10.5% from 2012-2022. By contrast, Ukraine (-2.6%) illustrated a downward trend over the same period. Spain (+14 p.p.) significantly strengthened its position in terms of the total exports, while Italy and Ukraine saw its share reduced by -6.1% and -9.4% from 2012 to 2022, respectively.

In value terms, Italy ($X) remains the largest electrical insulator supplier in Europe, comprising 19% of total exports. The second position in the ranking was held by Spain ($X), with a 3.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Italy was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Spain (+3.4% per year) and Ukraine (-7.3% per year).

Export Prices by Country

In 2022, the export price in Europe amounted to $X per unit, declining by -3.2% against the previous year. Over the period under review, the export price continues to indicate a pronounced shrinkage. The pace of growth was the most pronounced in 2021 when the export price increased by 13%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($X per unit), while Ukraine ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (-0.7%), while the other leaders experienced a decline in the export price figures.

Electrical Insulator Imports

Imports in Europe

For the third consecutive year, Europe recorded growth in supplies from abroad of electrical insulators, which increased by 14% to X units in 2022. The total import volume increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 14%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, electrical insulator imports stood at $X in 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 8.7%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Italy (X units) and Russia (X units) were the largest importers of electrical insulators in 2022, accounting for approx. 22% and 20% of total imports, respectively. It was distantly followed by France (X units), Portugal (X units) and Spain (X units), together mixing up a 25% share of total imports. Belarus (X units), Greece (X units), the UK (X units), Serbia (X units), Finland (X units), Croatia (X units) and Lithuania (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +24.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest electrical insulator importing markets in Europe were Italy ($X), France ($X) and Spain ($X), together accounting for 26% of total imports. The UK, Russia, Portugal, Finland, Croatia, Greece, Serbia, Belarus and Lithuania lagged somewhat behind, together accounting for a further 20%.

Serbia, with a CAGR of +6.2%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Europe amounted to $X per unit, declining by -11.9% against the previous year. In general, the import price saw a perceptible decline. The most prominent rate of growth was recorded in 2017 an increase of 9.7%. The level of import peaked at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform