Global Electrical Insulating Fittings Market 2024

Electrical Insulating Fittings Market Size

For the eleventh year in a row, the global electrical insulating fittings market recorded growth in sales value, which increased by 1.8% to $X in 2022. Over the period under review, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +79.8% against 2012 indices. Over the period under review, the global market reached the peak level in 2022 and is expected to retain growth in the immediate term.

Electrical Insulating Fittings Production

In value terms, electrical insulating fittings production totaled $X in 2022 estimated in export price. In general, the total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +74.6% against 2012 indices. The most prominent rate of growth was recorded in 2016 with an increase of 23%. Over the period under review, global production hit record highs in 2022 and is expected to retain growth in the immediate term.

Electrical Insulating Fittings Exports

Exports

Global electrical insulating fittings exports shrank modestly to X tons in 2022, which is down by -4% compared with the previous year. The total export volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when exports increased by 12% against the previous year. Over the period under review, the global exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, electrical insulating fittings exports contracted to $X in 2022. In general, total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 +10.4% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 19%. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

In 2022, Germany (X tons), distantly followed by the Czech Republic (X tons), Japan (X tons), China (X tons), Austria (X tons), Hungary (X tons), Belgium (X tons) and South Korea (X tons) were the major exporters of electrical insulating fittings of plastics, together making up 71% of total exports. The following exporters - Italy (X tons), Thailand (X tons), Spain (X tons), Poland (X tons) and France (X tons) - together made up 13% of total exports.

Exports from Germany increased at an average annual rate of +5.1% from 2012 to 2022. At the same time, Belgium (+17.0%), Spain (+7.1%), Thailand (+6.6%), South Korea (+6.1%), Hungary (+6.0%), Austria (+5.6%), France (+3.0%), the Czech Republic (+2.8%) and Poland (+2.4%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in the world, with a CAGR of +17.0% from 2012-2022. Italy and Japan experienced a relatively flat trend pattern. By contrast, China (-2.9%) illustrated a downward trend over the same period. While the share of Germany (+5 p.p.) and Belgium (+3.6 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Japan (-2.4 p.p.) and China (-5.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest electrical insulating fittings supplier worldwide, comprising 26% of global exports. The second position in the ranking was held by the Czech Republic ($X), with a 12% share of global exports. It was followed by Japan, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in Germany stood at +6.7%. The remaining exporting countries recorded the following average annual rates of exports growth: the Czech Republic (+10.7% per year) and Japan (-1.8% per year).

Export Prices by Country

The average electrical insulating fittings export price stood at $X per ton in 2022, declining by -3.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2018 an increase of 7.9%. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then shrank slightly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hungary ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+7.6%), while the other global leaders experienced more modest paces of growth.

Electrical Insulating Fittings Imports

Imports

In 2022, overseas purchases of electrical insulating fittings of plastics increased by 8.3% to X tons, rising for the second consecutive year after three years of decline. The total import volume increased at an average annual rate of +3.2% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 21% against the previous year. Global imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, electrical insulating fittings imports declined to $X in 2022. The total import value increased at an average annual rate of +4.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 23% against the previous year. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

The purchases of the twelve major importers of electrical insulating fittings of plastics, namely Nigeria, Germany, the Czech Republic, China, India, Romania, Mexico, Hungary, Poland, Italy, Belgium and the United States, represented more than half of total import. Tunisia (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Nigeria (with a CAGR of +21.2%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and the Czech Republic ($X) were the countries with the highest levels of imports in 2022, with a combined 32% share of global imports. Romania, Hungary, Mexico, India, Tunisia, Poland, the United States, Belgium, Italy and Nigeria lagged somewhat behind, together comprising a further 30%.

In terms of the main importing countries, Nigeria, with a CAGR of +25.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average electrical insulating fittings import price amounted to $X per ton, which is down by -7.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2017 an increase of 7.3% against the previous year. Global import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 China ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+5.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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