South-Eastern Asia: Circuit Breaker Market 2024

Circuit Breaker Market Size in South-Eastern Asia

In 2022, the Southeast Asian circuit breaker market increased by 3.4% to $X, rising for the second consecutive year after three years of decline. The total consumption indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +4.6% against 2020 indices. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Circuit Breaker Production in South-Eastern Asia

In value terms, circuit breaker production reached $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 63% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Circuit Breaker Exports

Exports in South-Eastern Asia

For the third year in a row, South-Eastern Asia recorded growth in overseas shipments of automatic circuit breakers, which increased by 12% to X units in 2022. In general, exports showed prominent growth. The pace of growth was the most pronounced in 2014 with an increase of 44% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, circuit breaker exports dropped modestly to $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +75.0% against 2015 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 50%. The level of export peaked at $X in 2021, and then shrank slightly in the following year.

Exports by Country

Singapore (X units) and Thailand (X units) represented the key exporters of automatic circuit breakers in 2022, accounting for near 34% and 32% of total exports, respectively. Vietnam (X units) took an 18% share (based on physical terms) of total exports, which put it in second place, followed by the Philippines (9.8%) and Malaysia (4.9%).

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +61.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the largest circuit breaker supplier in South-Eastern Asia, comprising 46% of total exports. The second position in the ranking was held by Thailand ($X), with a 21% share of total exports. It was followed by the Philippines, with a 17% share.

In Singapore, circuit breaker exports expanded at an average annual rate of +10.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+4.5% per year) and the Philippines (+65.5% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per unit, which is down by -11.4% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the export price increased by 20%. Over the period under review, the export prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+5.5%), while the other leaders experienced mixed trends in the export price figures.

Circuit Breaker Imports

Imports in South-Eastern Asia

In 2022, supplies from abroad of automatic circuit breakers increased by 23% to X units, rising for the second year in a row after two years of decline. Total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +37.5% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, circuit breaker imports stood at $X in 2022. Over the period under review, imports saw a slight expansion. The most prominent rate of growth was recorded in 2018 with an increase of 28%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Indonesia (X units), distantly followed by Vietnam (X units), Singapore (X units), Malaysia (X units), Thailand (X units) and the Philippines (X units) represented the largest importers of automatic circuit breakers, together generating 95% of total imports. Myanmar (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Myanmar (with a CAGR of +41.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Vietnam ($X) and Indonesia ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 54% of total imports. Thailand, the Philippines, Malaysia and Myanmar lagged somewhat behind, together comprising a further 45%.

Myanmar, with a CAGR of +28.5%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2022, with a decrease of -18.1% against the previous year. In general, the import price continues to indicate a noticeable descent. The growth pace was the most rapid in 2018 an increase of 10%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Philippines ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+8.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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