Portugal: Electrical Circuit Apparatus Market 2022

Electrical Circuit Apparatus Market Size in Portugal

In 2021, the Portuguese electrical circuit apparatus market decreased by -2.3% to $X, falling for the second consecutive year after four years of growth. Overall, the total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -7.6% against 2019 indices. Electrical circuit apparatus consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Electrical Circuit Apparatus Production in Portugal

In value terms, electrical circuit apparatus production reached $X in 2021 estimated in export price. Over the period under review, production, however, saw a slight descent. The pace of growth appeared the most rapid in 2018 when the production volume increased by 5.9% against the previous year. Electrical circuit apparatus production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Electrical Circuit Apparatus Exports

Exports from Portugal

After two years of decline, overseas shipments of electrical apparatus for circuit connection, switching and protection increased by 31% to X tons in 2021. In general, exports, however, recorded a noticeable shrinkage. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, electrical circuit apparatus exports skyrocketed to $X in 2021. Overall, exports showed a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

France (X tons), Spain (X tons) and Germany (X tons) were the main destinations of electrical circuit apparatus exports from Portugal, together accounting for 50% of total exports. Morocco, Angola, Romania, Italy, the United States, Hungary, Mozambique, Poland, Belgium, the UK and Brazil lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2021, the biggest increases were in Morocco (with a CAGR of +10.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electrical circuit apparatus exported from Portugal were France ($X), Germany ($X) and Spain ($X), with a combined 41% share of total exports. The United States, Italy, Romania, Morocco, Angola, Poland, Hungary, Belgium, the UK, Mozambique and Brazil lagged somewhat behind, together comprising a further 40%.

Morocco, with a CAGR of +9.1%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average electrical circuit apparatus export price amounted to $X per ton, remaining constant against the previous year. Over the last nine years, it increased at an average annual rate of +4.4%. The pace of growth appeared the most rapid in 2014 when the average export price increased by 12%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Mozambique ($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 Poland (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Circuit Apparatus Imports

Imports into Portugal

After two years of decline, overseas purchases of electrical apparatus for circuit connection, switching and protection increased by 28% to X tons in 2021. The total import volume increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when imports increased by 33% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, electrical circuit apparatus imports soared to $X in 2021. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 29%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Spain (X tons), Germany (X tons) and China (X tons) were the main suppliers of electrical circuit apparatus imports to Portugal, together accounting for 59% of total imports. France, Italy, the Netherlands, India and the UK lagged somewhat behind, together comprising a further 24%.

From 2012 to 2021, the biggest increases were in India (with a CAGR of +55.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest electrical circuit apparatus suppliers to Portugal were Germany ($X), Spain ($X) and France ($X), together accounting for 65% of total imports. China, Italy, the Netherlands, India and the UK lagged somewhat behind, together comprising a further 19%.

In terms of the main suppliers, India, with a CAGR of +50.2%, saw the highest growth rate of the value of imports, 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, which is down by -7.3% against the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. The pace of growth was the most pronounced in 2016 when the average import price increased by 13% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2020, and then dropped in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per ton), while the price for India ($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 UK (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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