Japan: Electrical Circuit Apparatus Market 2022

Electrical Circuit Apparatus Market Size in Japan

For the fourth consecutive year, the Japanese electrical circuit apparatus market recorded growth in sales value, which increased by 1.6% to $X in 2021. The market value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the near future.

Electrical Circuit Apparatus Production in Japan

In value terms, electrical circuit apparatus production totaled $X in 2021 estimated in export price. Overall, production, however, saw a mild shrinkage. The growth pace was the most rapid in 2016 when the production volume increased by 8.6% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Electrical Circuit Apparatus Exports

Exports from Japan

In 2021, overseas shipments of electrical apparatus for circuit connection, switching and protection increased by 13% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, electrical circuit apparatus exports rose remarkably to $X in 2021. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 13% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), the United States (X tons) and Vietnam (X tons) were the main destinations of electrical circuit apparatus exports from Japan, together accounting for 42% of total exports.

From 2012 to 2021, the biggest increases were in Vietnam (with a CAGR of +4.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for electrical circuit apparatus exports from Japan, comprising 29% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 13% share of total exports. It was followed by the United States, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-0.2% per year) and the United States (+0.0% per year).

Export Prices by Country

The average electrical circuit apparatus export price stood at $X per ton in 2021, waning by -5.8% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 7.3% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then dropped in the following year.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Malaysia ($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 Hong Kong SAR (+1.9%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Circuit Apparatus Imports

Imports into Japan

For the fifth consecutive year, Japan recorded growth in purchases abroad of electrical apparatus for circuit connection, switching and protection, which increased by 17% to X tons in 2021. Overall, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +9.0% 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 +117.9% against 2013 indices. The pace of growth was the most pronounced in 2014 when imports increased by 28% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, electrical circuit apparatus imports stood at $X in 2021. In general, imports saw a relatively flat trend pattern. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of electrical circuit apparatus to Japan, with a 56% share of total imports. Moreover, electrical circuit apparatus imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fivefold. Vietnam (X tons) ranked third in terms of total imports with a 6% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+11.8% per year) and Vietnam (+9.4% per year).

In value terms, China ($X) constituted the largest supplier of electrical circuit apparatus to Japan, comprising 47% of total imports. The second position in the ranking was held by Thailand ($X), with a 10% share of total imports. It was followed by Malaysia, with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+2.5% per year) and Malaysia (+3.8% per year).

Import Prices by Country

The average electrical circuit apparatus import price stood at $X per ton in 2021, reducing by -2.2% against the previous year. Overall, the import price showed a deep downturn. The most prominent rate of growth was recorded in 2016 when the average import price increased by less than 0.1% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Thailand ($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 United States (-3.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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