Sweden: Isolating Switch Market 2024

Isolating Switch Market Size in Sweden

The Swedish isolating switch market surged to $X in 2022, jumping by 54% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +9.8% 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 +24.1% against 2019 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Isolating Switch Exports

Exports from Sweden

For the fourth consecutive year, Sweden recorded decline in overseas shipments of isolating switches & make-and-break switches, which decreased by -13.2% to X units in 2022. Overall, exports recorded a perceptible downturn. The growth pace was the most rapid in 2014 with an increase of 67%. Over the period under review, the exports attained the maximum at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, isolating switch exports rose rapidly to $X in 2022. In general, exports, however, saw a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of 141%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Switzerland (X units), Norway (X units) and Finland (X units) were the main destinations of isolating switch exports from Sweden, together comprising 46% of total exports. Lithuania, Uganda, Poland, Turkey, India, Austria, Australia, Denmark, the UK and France lagged somewhat behind, together comprising a further 41%.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +77.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Finland ($X) remains the key foreign market for isolating switches & make-and-break switches exports from Sweden, comprising 37% of total exports. The second position in the ranking was taken by Lithuania ($X), with a 10% share of total exports. It was followed by Poland, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to Finland stood at +22.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+112.4% per year) and Poland (+18.6% per year).

Export Prices by Country

The average isolating switch export price stood at $X per unit in 2022, jumping by 26% against the previous year. Overall, the export price continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 132%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see steady growth in the immediate term.

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 Finland ($X per unit), while the average price for exports to Switzerland ($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 Finland (+23.4%), while the prices for the other major destinations experienced more modest paces of growth.

Isolating Switch Imports

Imports into Sweden

After two years of decline, purchases abroad of isolating switches & make-and-break switches increased by 47% to X units in 2022. Over the period under review, imports posted a resilient increase. The pace of growth appeared the most rapid in 2013 when imports increased by 179%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, isolating switch imports surged to $X in 2022. In general, imports saw prominent growth. The pace of growth was the most pronounced in 2017 with an increase of 60%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Switzerland (X units) constituted the largest isolating switch supplier to Sweden, accounting for a 46% share of total imports. Moreover, isolating switch imports from Switzerland exceeded the figures recorded by the second-largest supplier, Poland (X units), twofold. The Netherlands (X units) ranked third in terms of total imports with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Switzerland amounted to +44.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+47.8% per year) and the Netherlands (+11.3% per year).

In value terms, Switzerland ($X) constituted the largest supplier of isolating switches & make-and-break switches to Sweden, comprising 48% of total imports. The second position in the ranking was held by Poland ($X), with a 13% share of total imports. It was followed by the Netherlands, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Switzerland stood at +32.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+37.4% per year) and the Netherlands (+9.8% per year).

Import Prices by Country

The average isolating switch import price stood at $X per unit in 2022, remaining constant against the previous year. Overall, the import price, however, showed a perceptible decline. The growth pace was the most rapid in 2021 when the average import price increased by 53%. 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.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for Bulgaria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+2.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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