India: Electrical Circuit Apparatus Market 2024

Electrical Circuit Apparatus Market Size in India

The Indian electrical circuit apparatus market stood at $X in 2021, remaining relatively unchanged against the previous year. In general, consumption continues to indicate a resilient increase. Over the period under review, the market hit record highs in 2021 and is likely to see gradual growth in years to come.

Electrical Circuit Apparatus Production in India

In value terms, electrical circuit apparatus production dropped modestly to $X in 2021 estimated in export price. In general, production, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Electrical circuit apparatus production peaked at $X in 2020, and then reduced in the following year.

Electrical Circuit Apparatus Exports

Exports from India

In 2021, shipments abroad of electrical apparatus for circuit connection, switching and protection decreased by X% to X units, falling for the second consecutive year after two years of growth. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. The exports peaked at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, electrical circuit apparatus exports rose modestly to $X in 2021. The total export value increased at an average annual rate of X% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when exports increased by X%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units), the UK (X units) and the United Arab Emirates (X units) were the main destinations of electrical circuit apparatus exports from India, together accounting for X% of total exports. Nigeria, France, Germany, Turkey, Singapore, Saudi Arabia, Brazil, Poland, Hong Kong SAR and Italy lagged somewhat behind, together accounting for a further X%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for electrical apparatus for circuit connection, switching and protection exports from India, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and Germany (X% per year).

Export Prices by Country

In 2021, the average electrical circuit apparatus export price amounted to $X per unit, growing by X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Nigeria ($X per unit) was amongst the lowest.

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

Electrical Circuit Apparatus Imports

Imports into India

In 2021, supplies from abroad of electrical apparatus for circuit connection, switching and protection increased by X% to X units for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, saw a relatively flat trend pattern. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, electrical circuit apparatus imports surged to $X in 2021. Overall, total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of electrical circuit apparatus to India, accounting for a X% share of total imports. Moreover, electrical circuit apparatus imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), fourfold. The third position in this ranking was held by Japan (X units), with a X% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Japan (X% per year).

In value terms, China ($X) constituted the largest supplier of electrical apparatus for circuit connection, switching and protection to India, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by Singapore, with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Singapore (X% per year).

Import Prices by Country

The average electrical circuit apparatus import price stood at $X per unit in 2021, with an increase of X% against the previous year. In general, import price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, electrical circuit apparatus import price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is likely to continue growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :