Southern Asia: Electrical Fuse Market 2024

Electrical Fuse Market Size in Southern Asia

The South Asian electrical fuse market rose slightly to $X in 2021, picking up by 2.8% against the previous year. The market value increased at an average annual rate of +3.2% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Electrical Fuse Production in Southern Asia

In value terms, electrical fuse production stood at $X in 2021 estimated in export price. The total production indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.4% against 2019 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 21% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Electrical Fuse Exports

Exports in Southern Asia

In 2021, overseas shipments of electrical fuses increased by 21% to X tons for the first time since 2014, thus ending a six-year declining trend. In general, exports, however, continue to indicate a abrupt shrinkage. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, electrical fuse exports soared to $X in 2021. Overall, exports, however, showed a perceptible slump. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the one major exporters of electrical fuses, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the electrical fuses exports, with a CAGR of -15.9% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

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

In India, electrical fuse exports decreased by an average annual rate of -2.7% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, remaining stable against the previous year. In general, the export price showed buoyant growth. The pace of growth was the most pronounced in 2017 when the export price increased by 61% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in the near future.

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

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +15.6% per year.

Electrical Fuse Imports

Imports in Southern Asia

In 2021, supplies from abroad of electrical fuses was finally on the rise to reach X tons after two years of decline. Overall, imports, however, recorded a perceptible downturn. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, electrical fuse imports surged to $X in 2021. The total import value increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

India represented the key importer of electrical fuses in Southern Asia, with the volume of imports accounting for X tons, which was near 59% of total imports in 2021. Sri Lanka (X tons) ranks second in terms of the total imports with a 16% share, followed by Bangladesh (11%) and Nepal (7.1%). The following importers - Afghanistan (X tons) and Pakistan (X tons) - each recorded a 5.9% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to electrical fuse imports into India stood at -7.9%. At the same time, Nepal (+15.1%), Pakistan (+14.5%) and Sri Lanka (+3.6%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +15.1% from 2012-2021. By contrast, Bangladesh (-1.1%) and Afghanistan (-6.0%) illustrated a downward trend over the same period. Sri Lanka (+8.7 p.p.), Nepal (+5.9 p.p.), Bangladesh (+3.2 p.p.) and Pakistan (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while India saw its share reduced by -19.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported electrical fuses in Southern Asia, comprising 83% of total imports. The second position in the ranking was held by Nepal ($X), with a 3.8% share of total imports. It was followed by Pakistan, with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in India amounted to +4.2%. The remaining importing countries recorded the following average annual rates of imports growth: Nepal (+22.6% per year) and Pakistan (+14.8% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, rising by 8.3% against the previous year. Overall, the import price saw a resilient increase. The pace of growth appeared the most rapid in 2017 an increase of 40% against the previous year. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

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 India ($X per ton), while Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+13.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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