U.S.: Electrical Circuit Apparatus Market 2022

Electrical Circuit Apparatus Market Size in the U.S.

In 2021, the U.S. electrical circuit apparatus market decreased by -0.2% to $X, falling for the second consecutive year after three years of growth. Over the period under review, consumption, however, saw a relatively flat trend pattern. Electrical circuit apparatus consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Electrical Circuit Apparatus Production in the U.S.

In value terms, electrical circuit apparatus production surged to $X in 2021. The total output value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 27%. Electrical circuit apparatus production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Electrical Circuit Apparatus Exports

Exports from the U.S.

In 2021, overseas shipments of electrical apparatus for circuit connection, switching and protection increased by 58% to X tons, rising for the second year in a row after two years of decline. In general, exports saw prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 120% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, electrical circuit apparatus exports surged to $X in 2021. The total export value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Canada (X tons), Mexico (X tons) and China (X tons) were the main destinations of electrical circuit apparatus exports from the United States, with a combined 7% share of total exports. The Dominican Republic, Hong Kong SAR, the UK, the Philippines, South Korea, Germany and Japan lagged somewhat behind, together comprising a further 1.4%.

From 2012 to 2021, the biggest increases were in the Philippines (with a CAGR of +9.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Canada ($X) and the Dominican Republic ($X) were the largest markets for electrical circuit apparatus exported from the United States worldwide, together comprising 13% of total exports. China, South Korea, Hong Kong SAR, the UK, Japan, Germany and the Philippines lagged somewhat behind, together comprising a further 3.6%.

The Philippines, with a CAGR of +6.7%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average electrical circuit apparatus export price stood at $X per ton in 2021, shrinking by -27% against the previous year. In general, the export price saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 an increase of 13%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Circuit Apparatus Imports

Imports into the U.S.

For the third consecutive year, the United States recorded growth in supplies from abroad of electrical apparatus for circuit connection, switching and protection, which increased by 61% to X tons in 2021. In general, imports posted a prominent expansion. The growth pace was the most rapid in 2020 when imports increased by 83% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, electrical circuit apparatus imports surged to $X in 2021. The total import value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico (X tons), the Dominican Republic (X tons) and China (X tons) were the main suppliers of electrical circuit apparatus imports to the United States, together comprising 12% of total imports. Italy, Germany, France, Canada, Japan, Taiwan (Chinese), India, South Korea, Switzerland and the Philippines lagged somewhat behind, together comprising a further 3.9%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +18.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constituted the largest supplier of electrical circuit apparatus to the United States, comprising 11% of total imports. The second position in the ranking was taken by China ($X), with a 5.2% share of total imports. It was followed by the Dominican Republic, with a 5.2% share.

From 2012 to 2021, the average annual growth rate of value from Mexico stood at +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+0.6% per year) and the Dominican Republic (+8.5% per year).

Import Prices by Country

In 2021, the average electrical circuit apparatus import price amounted to $X per ton, shrinking by -22.9% against the previous year. Over the period under review, the import price saw a drastic downturn. The growth pace was the most rapid in 2018 when the average import price increased by 9.1% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the Philippines ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+1.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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