Ireland: Electrical Circuit Apparatus Market 2022

Electrical Circuit Apparatus Market Size in Ireland

In 2021, the Irish electrical circuit apparatus market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption recorded a resilient expansion. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Electrical Circuit Apparatus Exports

Exports from Ireland

In 2021, the amount of electrical apparatus for circuit connection, switching and protection exported from Ireland fell to X tons, declining by -6.3% against 2020 figures. Overall, exports saw a noticeable decrease. The pace of growth appeared the most rapid in 2020 when exports increased by 24%. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, electrical circuit apparatus exports contracted remarkably to $X in 2021. In general, exports recorded a deep setback. The pace of growth was the most pronounced in 2018 when exports increased by 14%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for electrical circuit apparatus exports from Ireland, with a 45% share of total exports. Moreover, electrical circuit apparatus exports to Germany exceeded the volume sent to the second major destination, the UK (X tons), threefold. The United States (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Germany amounted to -2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+1.8% per year) and the United States (+4.9% per year).

In value terms, Germany ($X) remains the key foreign market for electrical circuit apparatus exports from Ireland, comprising 32% of total exports. The second position in the ranking was taken by the UK ($X), with a 15% share of total exports. It was followed by Sweden, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany amounted to -12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-6.8% per year) and Sweden (-14.2% per year).

Export Prices by Country

The average electrical circuit apparatus export price stood at $X per ton in 2021, declining by -24.2% against the previous year. Overall, the export price showed a deep setback. The pace of growth was the most pronounced in 2018 an increase of 9.1% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Denmark ($X per ton), while the average price for exports to Spain ($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 Turkey (+4.2%), while the prices for the other major destinations experienced mixed trend patterns.

Electrical Circuit Apparatus Imports

Imports into Ireland

In 2021, after two years of decline, there was significant growth in purchases abroad of electrical apparatus for circuit connection, switching and protection, when their volume increased by 16% to X tons. Overall, total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -15.7% against 2018 indices. The growth pace was the most rapid in 2018 with an increase of 65% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, electrical circuit apparatus imports skyrocketed to $X in 2021. In general, total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +8.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +20.8% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), the UK (X tons) and Germany (X tons) were the main suppliers of electrical circuit apparatus imports to Ireland, with a combined 61% share of total imports. Italy, France, Belgium, the United States, Switzerland, the Netherlands, the Czech Republic and Japan lagged somewhat behind, together comprising a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Switzerland (with a CAGR of +47.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest electrical circuit apparatus suppliers to Ireland were the UK ($X), Germany ($X) and China ($X), with a combined 44% share of total imports. The Czech Republic, the United States, Italy, the Netherlands, Switzerland, Belgium, France and Japan lagged somewhat behind, together accounting for a further 40%.

The Czech Republic, with a CAGR of +44.6%, saw the highest rates of growth with regard to the value of imports, among 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 electrical circuit apparatus import price stood at $X per ton in 2021, rising by 23% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.9%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+21.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :