Spain: Market for Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V 2024

Market Size for Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V in Spain

For the third year in a row, the Spanish electrical board and console market recorded decline in sales value, which decreased by -56.7% to $X in 2022. Overall, consumption showed a abrupt slump. Electrical board and console consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Production of Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding X V in Spain

In value terms, electrical board and console production shrank modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2022; 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 the production volume increased by 17% against the previous year. Over the period under review, production hit record highs at $X in 2021, and then dropped in the following year.

Exports of Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V

Exports from Spain

In 2022, shipments abroad of boards, consoles, equipped with electrical switching apparatus for a voltage exceeding X v increased by 2.9% to X units, rising for the second consecutive year after two years of decline. Over the period under review, total exports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +6.8% 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 +13.8% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 60%. Over the period under review, the exports reached the maximum at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, electrical board and console exports declined to $X in 2022. In general, total exports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -10.5% against 2020 indices. The growth pace was the most rapid in 2013 when exports increased by 33%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X units), France (X units) and Brazil (X units) were the main destinations of electrical board and console exports from Spain, with a combined 52% share of total exports. Australia, Portugal, the United States, the Netherlands, Morocco, Mexico, Argentina, Turkey, the UK and Vietnam lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +65.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electrical board and console exported from Spain were Germany ($X), France ($X) and the United States ($X), with a combined 41% share of total exports. Australia, Mexico, Turkey, Portugal, Brazil, the Netherlands, the UK, Morocco, Argentina and Vietnam lagged somewhat behind, together accounting for a further 34%.

In terms of the main countries of destination, Vietnam, with a CAGR of +63.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average electrical board and console export price amounted to $X per unit, falling by -8.5% against the previous year. In general, the export price saw a pronounced setback. The growth pace was the most rapid in 2020 when the average export price increased by 20% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the average price for exports to Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Boards, Consoles, Equipped With Electrical Switching Apparatus For A Voltage Exceeding 1000 V

Imports into Spain

In value terms, electrical board and console imports soared to $X in 2022. Overall, imports enjoyed perceptible growth. The most prominent rate of growth was recorded in 2015 when imports increased by 63%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In value terms, Germany ($X) constituted the largest supplier of boards, consoles, equipped with electrical switching apparatus for a voltage exceeding X v to Spain, comprising 37% of total imports. The second position in the ranking was held by Italy ($X), with a 16% share of total imports. It was followed by China, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+31.4% per year) and China (+22.5% per year).

Import Prices by Country

In 2022, the average electrical board and console import price amounted to $X per unit, shrinking by -6% against the previous year. Over the period under review, the import price continues to indicate a abrupt decrease. The growth pace was the most rapid in 2019 an increase of 12%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+2.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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