Global Isolating Switch Market 2024

Isolating Switch Market Size

After two years of growth, the global isolating switch market decreased by -16.1% to $X in 2022. Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +90.6% against 2012 indices. As a result, consumption reached the peak level of $X, and then declined dramatically in the following year.

Isolating Switch Production

In value terms, isolating switch production declined to $X in 2022 estimated in export price. In general, the total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +9.3% against 2019 indices. The growth pace was the most rapid in 2015 with an increase of 34% against the previous year. Over the period under review, global production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Isolating Switch Exports

Exports

In 2022, the amount of isolating switches & make-and-break switches exported worldwide surged to X units, picking up by 83% on the year before. Over the period under review, total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +96.5% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, isolating switch exports expanded markedly to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 8.8% against the previous year. Over the period under review, the global exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

China prevails in exports structure, reaching X units, which was near 52% of total exports in 2022. Italy (X units) took an 8.9% share (based on physical terms) of total exports, which put it in second place, followed by Switzerland (7.4%). Turkey (X units), the Netherlands (X units), Mexico (X units), Bulgaria (X units), France (X units), South Korea (X units) and the United States (X units) took a little share of total exports.

China was also the fastest-growing in terms of the isolating switches & make-and-break switches exports, with a CAGR of +29.0% from 2012 to 2022. At the same time, Bulgaria (+14.7%), Turkey (+5.3%), the Netherlands (+3.9%) and France (+3.7%) displayed positive paces of growth. Switzerland experienced a relatively flat trend pattern. By contrast, Italy (-1.8%), Mexico (-2.5%), South Korea (-3.5%) and the United States (-8.5%) illustrated a downward trend over the same period. While the share of China (+45 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of South Korea (-2.6 p.p.), Mexico (-2.7 p.p.), the United States (-4.9 p.p.), Switzerland (-5.3 p.p.) and Italy (-9.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest isolating switch supplying countries worldwide were Switzerland ($X), Italy ($X) and China ($X), together accounting for 47% of global exports. Mexico, the United States, France, Bulgaria, South Korea, the Netherlands and Turkey lagged somewhat behind, together accounting for a further 24%.

Bulgaria, with a CAGR of +25.1%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average isolating switch export price amounted to $X per unit, shrinking by -41.7% against the previous year. In general, the export price recorded a perceptible decline. The pace of growth appeared the most rapid in 2020 an increase of 7.6% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2021 to 2022, the average export prices failed to regain momentum.

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 Switzerland ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+9.3%), while the other global leaders experienced more modest paces of growth.

Isolating Switch Imports

Imports

In 2022, supplies from abroad of isolating switches & make-and-break switches decreased by -1.4% to X units for the first time since 2015, thus ending a six-year rising trend. Overall, total imports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 30% against the previous year. Global imports peaked at X units in 2021, and then dropped in the following year.

In value terms, isolating switch imports shrank modestly to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 7.3%. Over the period under review, global imports attained the maximum at $X in 2014; afterwards, it flattened through to 2022.

Imports by Country

In 2022, Nigeria (X units) was the major importer of isolating switches & make-and-break switches, committing 32% of total imports. Germany (X units), Switzerland (X units), South Africa (X units), the United Arab Emirates (X units), Spain (X units), Vietnam (X units), the United States (X units) and Algeria (X units) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the isolating switches & make-and-break switches imports, with a CAGR of +40.9% from 2012 to 2022. At the same time, Switzerland (+28.4%), Vietnam (+9.3%), Algeria (+6.9%), Spain (+6.8%) and the United Arab Emirates (+6.1%) displayed positive paces of growth. By contrast, South Africa (-2.6%), Germany (-3.1%) and the United States (-7.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria and Switzerland increased by +30 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest isolating switch importing markets worldwide were the United States ($X), Nigeria ($X) and Switzerland ($X), together comprising 22% of global imports.

Among the main importing countries, Nigeria, with a CAGR of +35.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average isolating switch import price amounted to $X per unit, approximately mirroring the previous year. Overall, the import price, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2021 an increase of 6.5%. Global import price peaked at $X per unit in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+13.8%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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