Southern Asia: Circuit Breaker Market 2024

Circuit Breaker Market Size in Southern Asia

In 2022, the South Asian circuit breaker market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, recorded a noticeable slump. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Circuit Breaker Production in Southern Asia

In value terms, circuit breaker production shrank modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 44%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Circuit Breaker Exports

Exports in Southern Asia

Circuit breaker exports shrank notably to X units in 2022, waning by -15.2% against the previous year's figure. Over the period under review, exports, however, enjoyed a slight expansion. The most prominent rate of growth was recorded in 2021 with an increase of 84% against the previous year. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, circuit breaker exports stood at $X in 2022. Total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +9.1% 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 +37.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 37%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

The biggest shipments were from India (X units), together amounting to 99% of total export.

India was also the fastest-growing in terms of the automatic circuit breakers exports, with a CAGR of +1.2% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest circuit breaker supplier in Southern Asia.

In India, circuit breaker exports expanded at an average annual rate of +9.2% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per unit, picking up by 18% against the previous year. In general, the export price enjoyed buoyant growth. The growth pace was the most rapid in 2018 when the export price increased by 57% against the previous year. The level of export peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +7.9% per year.

Circuit Breaker Imports

Imports in Southern Asia

Circuit breaker imports fell to X units in 2022, which is down by -6.1% against 2021 figures. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 33% against the previous year. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, circuit breaker imports shrank to $X in 2022. Total imports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% 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 +30.2% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 38% against the previous year. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

India was the largest importing country with an import of around X units, which reached 50% of total imports. It was distantly followed by Bangladesh (X units), Pakistan (X units) and Sri Lanka (X units), together mixing up a 45% share of total imports. The following importers - Afghanistan (X units) and Nepal (X units) - each reached a 4.4% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Nepal (with a CAGR of +11.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constitutes the largest market for imported automatic circuit breakers in Southern Asia, comprising 58% of total imports. The second position in the ranking was held by Pakistan ($X), with a 16% share of total imports. It was followed by Bangladesh, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to +1.1%. In the other countries, the average annual rates were as follows: Pakistan (+3.1% per year) and Bangladesh (+3.1% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2022, therefore, remained relatively stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2017 when the import price increased by 20%. Over the period under review, import prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Pakistan ($X per unit), while Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+4.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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