Scandinavia: Glass Electrical Insulator Market 2024

Glass Electrical Insulator Market Size in Scandinavia

In 2021, the Scandinavia glass electrical insulator market decreased by -27.3% to $X, falling for the third consecutive year after three years of growth. Overall, consumption saw a perceptible decrease. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Glass Electrical Insulator Production in Scandinavia

In value terms, glass electrical insulator production dropped sharply to $X in 2021 estimated in export price. Overall, production saw a significant decline. The pace of growth appeared the most rapid in 2014 when the production volume increased by 472% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Glass Electrical Insulator Exports

Exports in Scandinavia

In 2021, approx. X units of glass electrical insulators were exported in Scandinavia; waning by -74.3% against 2020 figures. In general, exports saw a precipitous decline. The pace of growth appeared the most rapid in 2019 when exports increased by 404%. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, glass electrical insulator exports stood at $X in 2021. Over the period under review, exports recorded a abrupt shrinkage. The growth pace was the most rapid in 2019 with an increase of 276% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Norway (X units) and Sweden (X units) were the main exporters of glass electrical insulators in 2021, reaching near 53% and 36% of total exports, respectively. It was distantly followed by Finland (X units), mixing up an 11% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Sweden (with a CAGR of +8.0%), while the other leaders experienced a decline in the exports figures.

In value terms, Norway ($X) remains the largest glass electrical insulator supplier in Scandinavia, comprising 80% of total exports. The second position in the ranking was taken by Finland ($X), with a 14% share of total exports.

In Norway, glass electrical insulator exports decreased by an average annual rate of -11.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Finland (+17.3% per year) and Sweden (+11.5% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2021, rising by 312% against the previous year. Over the period under review, the export price showed significant growth. As a result, the export 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 exporting countries. In 2021, amid the top suppliers, the country with the highest price was Norway ($X per unit), while Sweden ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+27.7%), while the other leaders experienced more modest paces of growth.

Glass Electrical Insulator Imports

Imports in Scandinavia

In 2021, purchases abroad of glass electrical insulators decreased by -22.8% to X units, falling for the third year in a row after four years of growth. In general, imports showed a abrupt contraction. The pace of growth was the most pronounced in 2017 with an increase of 157%. Over the period under review, imports attained the maximum at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, glass electrical insulator imports reduced remarkably to $X in 2021. Over the period under review, imports continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2017 with an increase of 131%. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Finland represented the largest importer of glass electrical insulators in Scandinavia, with the volume of imports accounting for X units, which was approx. 51% of total imports in 2021. Sweden (X units) ranks second in terms of the total imports with a 32% share, followed by Norway (17%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Finland (with a CAGR of +3.9%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, Finland ($X) constitutes the largest market for imported glass electrical insulators in Scandinavia, comprising 61% of total imports. The second position in the ranking was taken by Sweden ($X), with a 24% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Finland amounted to +13.4%. The remaining importing countries recorded the following average annual rates of imports growth: Sweden (-6.1% per year) and Norway (-14.0% per year).

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per unit, waning by -39.5% against the previous year. Overall, the import price, however, enjoyed pronounced growth. The most prominent rate of growth was recorded in 2020 when the import price increased by 104% against the previous year. As a result, import price attained the peak level of $X per unit, and then contracted notably in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Finland ($X per unit), while Sweden ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+9.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform