United Kingdom: Electricity Supply Meter Market 2024

Electricity Supply Meter Market Size in the UK

In 2023, after two years of growth, there was significant decline in the UK electricity supply meter market, when its value decreased by X% to $X. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2023, the growth of the market remained at a somewhat lower figure.

Electricity Supply Meter Production in the UK

In value terms, electricity supply meter production declined modestly to $X in 2023 estimated in export price. In general, production saw a abrupt shrinkage. The growth pace was the most rapid in 2017 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

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Electricity Supply Meter Exports

Exports from the UK

In 2023, approx. X units of electricity supply or production meters were exported from the UK; declining by X% against the year before. In general, exports faced a sharp setback. The pace of growth appeared the most rapid in 2018 when exports increased by X%. The exports peaked at X units in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

In value terms, electricity supply meter exports reduced dramatically to $X in 2023. Overall, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Ireland (X units) was the main destination for electricity supply meter exports from the UK, with a X% share of total exports. Moreover, electricity supply meter exports to Ireland exceeded the volume sent to the second major destination, India (X units), twofold. China (X units) ranked third in terms of total exports with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Ireland totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and China (X% per year).

In value terms, the largest markets for electricity supply meter exported from the UK were Ireland ($X), India ($X) and China ($X), together accounting for X% of total exports. France, the United States, Spain, the Netherlands, Australia, Germany, Poland, Estonia and Switzerland lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, France, with a CAGR of X%, saw the highest rates of growth with regard to 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 2023, the average electricity supply meter export price amounted to $X per unit, increasing by X% against the previous year. Over the period under review, the export price posted a strong expansion. The pace of growth was the most pronounced in 2021 when the average export price increased by X% against the previous year. The export price peaked in 2023 and is expected to retain growth in years to come.

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

Electricity Supply Meter Imports

Imports into the UK

After two years of growth, overseas purchases of electricity supply or production meters decreased by X% to X units in 2023. Overall, imports, however, posted strong growth. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, imports reached the peak of X units. From 2018 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, electricity supply meter imports shrank to $X in 2023. Over the period under review, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, imports reached the peak of $X. From 2018 to 2023, the growth of imports failed to regain momentum.

Imports by Country

In 2023, China (X units) constituted the largest supplier of electricity supply meter to the UK, with a X% share of total imports. Moreover, electricity supply meter imports from China exceeded the figures recorded by the second-largest supplier, Poland (X units), sixfold. The third position in this ranking was held by Spain (X units), with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Spain (X% per year).

In value terms, China ($X) constituted the largest supplier of electricity supply or production meters to the UK, comprising X% of total imports. The second position in the ranking was taken by Spain ($X), with an X% share of total imports. It was followed by India, with a X% share.

From 2012 to 2023, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and India (X% per year).

Import Prices by Country

The average electricity supply meter import price stood at $X per unit in 2023, jumping by X% against the previous year. In general, the import price, however, continues to indicate a mild decrease. The pace of growth appeared the most rapid in 2016 an increase of X%. Over the period under review, average import prices attained the maximum at $X per unit in 2017; however, from 2018 to 2023, 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 Hungary ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hungary (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform