New Zealand: Electrical Insulating Fittings Market 2024

Electrical Insulating Fittings Market Size in New Zealand

The New Zealand electrical insulating fittings market fell rapidly to $X in 2022, with a decrease of -39.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a pronounced decrease. Over the period under review, the market attained the maximum level at $X in 2021, and then fell sharply in the following year.

Electrical Insulating Fittings Exports

Exports from New Zealand

In 2022, overseas shipments of electrical insulating fittings of plastics decreased by -43.8% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, exports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 1,985%. As a result, the exports reached the peak of X tons, and then contracted sharply in the following year.

In value terms, electrical insulating fittings exports declined remarkably to $X in 2022. In general, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2021 with an increase of 2,248%. As a result, the exports reached the peak of $X, and then dropped markedly in the following year.

Exports by Country

Australia (X tons), the United States (X tons) and the Netherlands (X tons) were the main destinations of electrical insulating fittings exports from New Zealand, together accounting for 68% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +162.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electrical insulating fittings exported from New Zealand were Australia ($X), the United States ($X) and the Netherlands ($X), together accounting for 68% of total exports.

Among the main countries of destination, the United States, with a CAGR of +182.6%, recorded the highest rates of growth with regard to 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

The average electrical insulating fittings export price stood at $X per ton in 2022, dropping by -3.4% against the previous year. Overall, the export price, however, saw a strong increase. The most prominent rate of growth was recorded in 2013 when the average export price increased by 117% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then fell in the following year.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Chile ($X per ton) and the Netherlands ($X per ton), while the average price for exports to Fiji ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+24.3%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Insulating Fittings Imports

Imports into New Zealand

In 2022, imports of electrical insulating fittings of plastics into New Zealand contracted rapidly to X tons, reducing by -41.4% on 2021. Over the period under review, imports saw a perceptible setback. The most prominent rate of growth was recorded in 2021 with an increase of 177%. As a result, imports reached the peak of X tons, and then dropped significantly in the following year.

In value terms, electrical insulating fittings imports shrank significantly to $X in 2022. Overall, imports, however, enjoyed a noticeable expansion. The growth pace was the most rapid in 2021 when imports increased by 192%. As a result, imports attained the peak of $X, and then reduced markedly in the following year.

Imports by Country

In 2022, Australia (X tons) constituted the largest electrical insulating fittings supplier to New Zealand, with a 45% share of total imports. Moreover, electrical insulating fittings imports from Australia exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by Germany (X tons), with a 9.2% share.

From 2012 to 2022, the average annual growth rate of volume from Australia totaled +50.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+30.7% per year) and Germany (+30.0% per year).

In value terms, Australia ($X) constituted the largest supplier of electrical insulating fittings of plastics to New Zealand, comprising 45% of total imports. The second position in the ranking was taken by China ($X), with a 21% share of total imports. It was followed by Germany, with a 9.2% share.

From 2012 to 2022, the average annual growth rate of value from Australia stood at +44.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+40.7% per year) and Germany (+24.5% per year).

Import Prices by Country

In 2022, the average electrical insulating fittings import price amounted to $X per ton, leveling off at the previous year. In general, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +8.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electrical insulating fittings import price increased by +13.6% against 2019 indices. The pace of growth was the most pronounced in 2013 when the average import price increased by 56%. The import price peaked at $X per ton in 2021, and then reduced slightly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were China ($X per ton) and Australia ($X per ton), while the price for France ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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