Ireland: Electric Soldering Iron Market 2024

Electric Soldering Iron Market Size in Ireland

In 2023, the Irish electric soldering iron market decreased by X% to $X for the first time since 2013, thus ending a nine-year rising trend. In general, consumption, however, recorded strong growth. Electric soldering iron consumption peaked at $X in 2022, and then contracted markedly in the following year.

Electric Soldering Iron Production in Ireland

In value terms, electric soldering iron production amounted to $X in 2023 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with a decrease of X% against the previous year. Over the period under review, production hit record highs in 2023 and is likely to continue growth in years to come.

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Electric Soldering Iron Exports

Exports from Ireland

In 2023, approx. X units of electric soldering irons and guns were exported from Ireland; picking up by X% compared with the year before. In general, exports, however, continue to indicate a deep slump. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

In value terms, electric soldering iron exports amounted to $X in 2023. Over the period under review, exports saw a strong expansion. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The exports peaked in 2023 and are expected to retain growth in the near future.

Exports by Country

The United States (X units) was the main destination for electric soldering iron exports from Ireland, with a X% share of total exports. Moreover, electric soldering iron exports to the United States exceeded the volume sent to the second major destination, the UK (X units), ninefold. Germany (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Germany (X% per year).

In value terms, the United States ($X) remains the key foreign market for electric soldering irons and guns exports from Ireland, comprising X% of total exports. The second position in the ranking was held by the UK ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Germany (X% per year).

Export Prices by Country

In 2023, the average electric soldering iron export price amounted to $X per unit, waning by X% against the previous year. In general, the export price, however, saw a remarkable increase. The pace of growth was the most pronounced in 2021 an increase of X%. The export price peaked at $X per unit in 2022, and then declined in the following year.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Soldering Iron Imports

Imports into Ireland

In 2023, after eleven years of growth, there was significant decline in supplies from abroad of electric soldering irons and guns, when their volume decreased by X% to X units. In general, imports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X units in 2022, and then fell remarkably in the following year.

In value terms, electric soldering iron imports expanded remarkably to $X in 2023. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2023, imports remained at a lower figure.

Imports by Country

Germany (X units), China (X units) and the UK (X units) were the main suppliers of electric soldering iron imports to Ireland, with a combined X% share of total imports. Mexico, the Netherlands, Taiwan (Chinese), Spain and the United States lagged somewhat behind, together comprising a further X%.

From 2020 to 2023, the biggest increases were recorded for Spain (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the UK ($X) and Germany ($X) constituted the largest electric soldering iron suppliers to Ireland, with a combined X% share of total imports. Mexico, the Netherlands, Taiwan (Chinese), Spain and the United States lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Spain, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average electric soldering iron import price amounted to $X per unit, rising by X% against the previous year. In general, the import price recorded a resilient increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2020 to 2023, the most notable rate of growth in terms of prices was attained by the UK (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform