Asia: Market for Electrical Boards, Panels, Consoles, Desks and Cabinets 2024

Market Size for Electrical Boards, Panels, Consoles, Desks and Cabinets in Asia

The Asian market for electrical boards, panels, consoles, desks and cabinets rose to $X in 2023, with an increase of X% against the previous year. The total consumption indicated a tangible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Production of Electrical Boards, Panels, Consoles, Desks and Cabinets in Asia

In value terms, electric board, desk and panel production rose to $X in 2023 estimated in export price. Over the period under review, production saw a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Exports of Electrical Boards, Panels, Consoles, Desks and Cabinets

Exports in Asia

In 2023, overseas shipments of electrical boards, panels, consoles, desks and cabinets decreased by X% to X units for the first time since 2020, thus ending a two-year rising trend. Total exports indicated a notable increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, electric board, desk and panel exports totaled $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the maximum in 2023 and are likely to continue growth in the immediate term.

Exports by Country

China was the major exporter of electrical boards, panels, consoles, desks and cabinets in Asia, with the volume of exports amounting to X units, which was approx. X% of total exports in 2023. It was distantly followed by India (X units) and Turkey (X units), together constituting a X% share of total exports. Thailand (X units), Malaysia (X units), the United Arab Emirates (X units) and South Korea (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of X% from 2012 to 2023. At the same time, Turkey (X%), South Korea (X%), Malaysia (X%) and India (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. By contrast, the United Arab Emirates (X%) and Thailand (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China and Turkey increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), India ($X) and Turkey ($X) appeared to be the countries with the highest levels of exports in 2023, together comprising X% of total exports.

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

Export Prices by Country

The export price in Asia stood at $X per unit in 2023, increasing by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Imports of Electrical Boards, Panels, Consoles, Desks and Cabinets

Imports in Asia

In 2023, approx. X units of electrical boards, panels, consoles, desks and cabinets were imported in Asia; growing by X% compared with the previous year. Total imports indicated tangible growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X units in 2018; however, from 2019 to 2023, imports remained at a lower figure.

In value terms, electric board, desk and panel imports rose markedly to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2023, India (X units) represented the largest importer of electrical boards, panels, consoles, desks and cabinets, comprising X% of total imports. The United Arab Emirates (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Japan (X%). Oman (X units), South Korea (X units), Iraq (X units), Kuwait (X units), Singapore (X units), Vietnam (X units), Malaysia (X units), Indonesia (X units), Thailand (X units) and Taiwan (Chinese) (X units) followed a long way behind the leaders.

India was also the fastest-growing in terms of the electrical boards, panels, consoles, desks and cabinets imports, with a CAGR of X% from 2012 to 2023. At the same time, Kuwait (X%), Vietnam (X%), Taiwan (Chinese) (X%), South Korea (X%), Thailand (X%), the United Arab Emirates (X%), Oman (X%), Indonesia (X%) and Singapore (X%) displayed positive paces of growth. Malaysia, Japan and Iraq experienced a relatively flat trend pattern. India (X p.p.), Kuwait (X p.p.) and Vietnam (X p.p.) significantly strengthened its position in terms of the total imports, while Malaysia, Iraq, the United Arab Emirates and Japan saw its share reduced by X%, X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported electrical boards, panels, consoles, desks and cabinets in Asia, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

In India, electric board, desk and panel imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Japan (X% per year).

Import Prices by Country

The import price in Asia stood at $X per unit in 2023, flattening at the previous year. Over the period under review, the import price, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Malaysia ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform