Serbia: Electrical Circuit Apparatus Market 2024

Electrical Circuit Apparatus Market Size in Serbia

The Serbian electrical circuit apparatus market skyrocketed to $X in 2021, surging by X% against the previous year. In general, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by X% against 2019 indices. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Electrical Circuit Apparatus Production in Serbia

In value terms, electrical circuit apparatus production soared to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Electrical Circuit Apparatus Exports

Exports from Serbia

In 2021, shipments abroad of electrical apparatus for circuit connection, switching and protection decreased by X% to X units for the first time since 2014, thus ending a six-year rising trend. Over the period under review, total exports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by X% against 2012 indices. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, the exports attained the peak of X units, and then shrank in the following year.

In value terms, electrical circuit apparatus exports surged to $X in 2021. Overall, exports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

The Czech Republic (X units), Germany (X units) and Poland (X units) were the main destinations of electrical circuit apparatus exports from Serbia, together comprising X% of total exports.

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

In value terms, the largest markets for electrical circuit apparatus exported from Serbia were Poland ($X), Germany ($X) and the Czech Republic ($X), with a combined X% share of total exports.

Poland, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average electrical circuit apparatus export price stood at $X per unit in 2021, jumping by X% against the previous year. Overall, export price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, electrical circuit apparatus export price increased by X% against 2015 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Poland ($X per unit), while the average price for exports to Russia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Circuit Apparatus Imports

Imports into Serbia

In 2021, approx. X units of electrical apparatus for circuit connection, switching and protection were imported into Serbia; increasing by X% compared with 2020 figures. Over the period under review, imports posted prominent growth. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, electrical circuit apparatus imports soared to $X in 2021. In general, imports enjoyed a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

South Korea (X units), Germany (X units) and China (X units) were the main suppliers of electrical circuit apparatus imports to Serbia, with a combined X% share of total imports. Austria, Italy, Slovenia, Turkey, the Czech Republic, France, Romania, Hungary, Switzerland and Portugal lagged somewhat behind, together comprising a further X%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Portugal (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest electrical circuit apparatus suppliers to Serbia were Germany ($X), South Korea ($X) and China ($X), together accounting for X% of total imports. Italy, the Czech Republic, Austria, France, Switzerland, Slovenia, Romania, Portugal, Hungary and Turkey lagged somewhat behind, together accounting for a further X%.

Portugal, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average electrical circuit apparatus import price stood at $X per unit in 2021, with an increase of X% against the previous year. Over the last nine-year period, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Germany ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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