India: Electrical Fuse Market 2024

Electrical Fuse Market Size in India

The Indian electrical fuse market rose slightly to $X in 2021, increasing by 2.7% against the previous year. The market value increased at an average annual rate of +3.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2019; afterwards, it flattened through to 2021.

Electrical Fuse Production in India

In value terms, electrical fuse production expanded modestly to $X in 2021 estimated in export price. In general, the total production indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.4% against 2019 indices. The growth pace was the most rapid in 2018 when the production volume increased by 21%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Electrical Fuse Exports

Exports from India

In 2021, overseas shipments of electrical fuses were finally on the rise to reach X tons for the first time since 2014, thus ending a six-year declining trend. Over the period under review, exports, however, recorded a abrupt setback. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, electrical fuse exports skyrocketed to $X in 2021. In general, exports, however, showed a pronounced downturn. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The UK (X tons), Hong Kong SAR (X tons) and Nepal (X tons) were the main destinations of electrical fuse exports from India, together accounting for 39% of total exports. These countries were followed by the United States, Nigeria, the United Arab Emirates, Sri Lanka, Saudi Arabia, South Korea, Australia, France, China and Switzerland, which together accounted for a further 35%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +21.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electrical fuse exported from India were the UK ($X), Hong Kong SAR ($X) and Nepal ($X), together comprising 40% of total exports. The United States, Nigeria, the United Arab Emirates, Saudi Arabia, South Korea, Australia, France, China, Switzerland and Sri Lanka lagged somewhat behind, together accounting for a further 35%.

Among the main countries of destination, South Korea, with a CAGR of +29.4%, 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

The average electrical fuse export price stood at $X per ton in 2021, almost unchanged from the previous year. Overall, the export price saw a strong expansion. The pace of growth appeared the most rapid in 2017 when the average export price increased by 61% against the previous year. The export price peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Sri Lanka ($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 Nigeria (+29.8%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Fuse Imports

Imports into India

In 2021, electrical fuse imports into India expanded remarkably to X tons, increasing by 14% against the previous year. Over the period under review, imports, however, showed a abrupt curtailment. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, electrical fuse imports skyrocketed to $X in 2021. In general, total imports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Japan (X tons) and Singapore (X tons) were the main suppliers of electrical fuse imports to India, together comprising 53% of total imports. These countries were followed by Germany, the United States, Hong Kong SAR, South Korea, France, Slovenia, Italy, the UK and Mexico, which together accounted for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovenia (with a CAGR of +22.0%), while imports for the other leaders experienced mixed trend patterns.

In value terms, China ($X), Japan ($X) and Singapore ($X) constituted the largest electrical fuse suppliers to India, with a combined 53% share of total imports. Germany, the United States, Hong Kong SAR, South Korea, France, Italy, Slovenia, the UK and Mexico lagged somewhat behind, together accounting for a further 35%.

In terms of the main suppliers, Hong Kong SAR, with a CAGR of +25.3%, recorded 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 2021, the average electrical fuse import price amounted to $X per ton, increasing by 17% against the previous year. Overall, the import price showed a prominent increase. The most prominent rate of growth was recorded in 2017 when the average import price increased by 65% against the previous year. The import price peaked in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+18.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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