Scandinavia: Isolating Switch Market 2024

Isolating Switch Market Size in Scandinavia

The Scandinavia isolating switch market surged to $X in 2022, picking up by 30% against the previous year. Overall, consumption posted strong growth. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Isolating Switch Production in Scandinavia

In value terms, isolating switch production declined dramatically to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a prominent expansion. The pace of growth was the most pronounced in 2014 when the production volume increased by 944% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Isolating Switch Exports

Exports in Scandinavia

In 2022, overseas shipments of isolating switches & make-and-break switches increased by 131% to X units, rising for the second consecutive year after two years of decline. In general, exports, however, saw a mild reduction. The volume of export peaked at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, isolating switch exports surged to $X in 2022. Overall, exports saw buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Finland (X units) represented the key exporter of isolating switches & make-and-break switches, making up 84% of total exports. It was distantly followed by Sweden (X units), constituting a 14% share of total exports. Norway (X units) followed a long way behind the leaders.

Finland was also the fastest-growing in terms of the isolating switches & make-and-break switches exports, with a CAGR of -1.4% from 2012 to 2022. Sweden (-2.3%) and Norway (-4.4%) illustrated a downward trend over the same period. While the share of Finland (+1.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Finland ($X) remains the largest isolating switch supplier in Scandinavia, comprising 78% of total exports. The second position in the ranking was held by Sweden ($X), with a 21% share of total exports.

In Finland, isolating switch exports expanded at an average annual rate of +13.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Sweden (+10.6% per year) and Norway (-12.7% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per unit in 2022, surging by 3.7% against the previous year. Overall, the export price posted a buoyant expansion. The most prominent rate of growth was recorded in 2019 when the export price increased by 58% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per unit), while Norway ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+14.9%), while the other leaders experienced mixed trends in the export price figures.

Isolating Switch Imports

Imports in Scandinavia

In 2022, approx. X units of isolating switches & make-and-break switches were imported in Scandinavia; with an increase of 30% compared with the previous year's figure. Over the period under review, imports enjoyed a buoyant expansion. The growth pace was the most rapid in 2013 with an increase of 45% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, isolating switch imports soared to $X in 2022. Overall, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 60%. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

Finland (X units) and Sweden (X units) represented the largest importers of isolating switches & make-and-break switches in 2022, resulting at near 46% and 35% of total imports, respectively. It was distantly followed by Norway (X units), mixing up a 19% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Sweden (with a CAGR of +15.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest isolating switch importing markets in Scandinavia were Sweden ($X), Finland ($X) and Norway ($X).

Among the main importing countries, Sweden, with a CAGR of +12.9%, saw the highest rates of growth with regard to 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

The import price in Scandinavia stood at $X per unit in 2022, increasing by 6.3% against the previous year. Over the period under review, the import price, however, saw a mild downturn. The pace of growth was the most pronounced in 2014 when the import price increased by 37% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per unit), while Finland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+1.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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