Electrical Signalling Apparatus Market

The global market for electrical apparatus for sound or visual signalling is projected to see continued growth from 2022 to 2030, with consumption, production, imports, and exports all on the rise. The market volume is expected to reach 1.2B units by 2030, with a value of $31.6B in nominal prices. Top importers and exporters include China, United States, and the Netherlands, with significant growth rates seen in various countries. Import and export prices have seen fluctuations over the years, with notable growth trends in certain countries. Overall, the market is expected to expand steadily in the near future.

Market Forecast

Driven by increasing demand for electrical apparatus for sound or visual signalling worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.7% for the period from 2022 to 2030, which is projected to bring the market volume to 1.2B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.7% for the period from 2022 to 2030, which is projected to bring the market value to $31.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Electrical Apparatus For Sound Or Visual Signalling

For the fifth year in a row, the global market recorded growth in consumption of electrical apparatus for sound or visual signalling, which increased by 18% to 1.1B units in 2022. Overall, consumption recorded tangible growth. Global consumption peaked in 2022 and is likely to see steady growth in the immediate term.

The global electrical signalling apparatus market value was estimated at $25.6B in 2022, rising by 14% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded resilient growth. Global consumption peaked in 2022 and is likely to continue growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (187M units), Hong Kong SAR (103M units) and France (87M units), with a combined 34% share of global consumption. India, Germany, the Netherlands, Taiwan (Chinese), China, Japan, Chile, Indonesia, Brazil and Mexico lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +45.2%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Japan ($3B), the United States ($2.7B) and Indonesia ($1.9B) appeared to be the countries with the highest levels of market value in 2022, with a combined 29% share of the global market. Mexico, France, Taiwan (Chinese), the Netherlands, Germany, China, India, Chile, Hong Kong SAR and Brazil lagged somewhat behind, together accounting for a further 28%.

The Netherlands, with a CAGR of +42.9%, saw the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of electrical signalling apparatus per capita consumption was registered in Hong Kong SAR (14 units per person), followed by the Netherlands (3.2 units per person), Taiwan (Chinese) (2.2 units per person) and Chile (1.5 units per person), while the world average per capita consumption of electrical signalling apparatus was estimated at 0.1 units per person.

From 2012 to 2022, the average annual rate of growth in terms of the electrical signalling apparatus per capita consumption in Hong Kong SAR totaled -17.3%. In the other countries, the average annual rates were as follows: the Netherlands (+44.5% per year) and Taiwan (Chinese) (+35.0% per year).

Production

World Production of Electrical Apparatus For Sound Or Visual Signalling

In 2022, approx. 972M units of electrical apparatus for sound or visual signalling were produced worldwide; surging by 4% on the previous year's figure. In general, production recorded a perceptible increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 187% against the previous year. Over the period under review, global production hit record highs in 2022 and is likely to see gradual growth in years to come.

In value terms, electrical signalling apparatus production stood at $25B in 2022 estimated in export price. Overall, production posted a perceptible expansion. The pace of growth was the most pronounced in 2018 when the production volume increased by 100%. Over the period under review, global production reached the maximum level at $26.9B in 2020; however, from 2021 to 2022, production failed to regain momentum.

Production By Country

China (566M units) remains the largest electrical signalling apparatus producing country worldwide, comprising approx. 58% of total volume. Moreover, electrical signalling apparatus production in China exceeded the figures recorded by the second-largest producer, Hong Kong SAR (195M units), threefold. Japan (27M units) ranked third in terms of total production with a 2.7% share.

From 2012 to 2022, the average annual growth rate of volume in China stood at +5.7%. The remaining producing countries recorded the following average annual rates of production growth: Hong Kong SAR (+8.0% per year) and Japan (+16.1% per year).

Imports

World Imports of Electrical Apparatus For Sound Or Visual Signalling

In 2022, the amount of electrical apparatus for sound or visual signalling imported worldwide was estimated at 1.4B units, with an increase of 7.9% against the previous year. Overall, imports posted a modest expansion. The most prominent rate of growth was recorded in 2020 with an increase of 56%. Global imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, electrical signalling apparatus imports surged to $5B in 2022. Over the period under review, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +90.2% against 2017 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 31% against the previous year. Global imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports By Country

The purchases of the twelve major importers of electrical apparatus for sound or visual signalling, namely the United States, China, Hong Kong SAR, France, the Netherlands, Germany, India, Taiwan (Chinese), Thailand, Chile, Italy and Brazil, represented more than two-thirds of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Netherlands (with a CAGR of +52.5%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest electrical signalling apparatus importing markets worldwide were the United States ($1.1B), the Netherlands ($651M) and Germany ($562M), together accounting for 46% of global imports.

The Netherlands, with a CAGR of +32.4%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries 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 electrical signalling apparatus import price amounted to $3.7 per unit, increasing by 16% against the previous year. Overall, the import price saw a prominent expansion. The growth pace was the most rapid in 2013 an increase of 93% against the previous year. Global import price peaked at $6.2 per unit in 2015; however, from 2016 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 Germany ($6 per unit), while Chile ($0.3 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+14.5%), while the other global leaders experienced mixed trends in the import price figures.

Exports

World Exports of Electrical Apparatus For Sound Or Visual Signalling

After two years of growth, shipments abroad of electrical apparatus for sound or visual signalling decreased by -2.7% to 1.2B units in 2022. Over the period under review, exports, however, saw tangible growth. The pace of growth was the most pronounced in 2018 with an increase of 150%. Over the period under review, the global exports attained the peak figure at 1.3B units in 2021, and then declined in the following year.

In value terms, electrical signalling apparatus exports surged to $4.8B in 2022. Overall, exports, however, continue to indicate a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports By Country

In 2022, China (698M units) was the main exporter of electrical apparatus for sound or visual signalling, generating 57% of total exports. Hong Kong SAR (220M units) held an 18% share (based on physical terms) of total exports, which put it in second place, followed by the Netherlands (4.8%). The following exporters - Germany (39M units), Thailand (37M units), France (33M units), the United States (20M units) and Singapore (19M units) - together made up 12% of total exports.

From 2012 to 2022, average annual rates of growth with regard to electrical signalling apparatus exports from China stood at +5.3%. At the same time, the Netherlands (+67.7%), France (+45.1%), Germany (+39.1%), the United States (+20.4%) and Singapore (+15.2%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +67.7% from 2012-2022. By contrast, Hong Kong SAR (-2.2%) and Thailand (-14.7%) illustrated a downward trend over the same period. China (+11 p.p.), the Netherlands (+4.8 p.p.), Germany (+3 p.p.) and France (+2.6 p.p.) significantly strengthened its position in terms of the global exports, while Hong Kong SAR and Thailand saw its share reduced by -12.5% and -17.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($1.5B) remains the largest electrical signalling apparatus supplier worldwide, comprising 31% of global exports. The second position in the ranking was held by the United States ($424M), with an 8.8% share of global exports. It was followed by Germany, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +18.0%. In the other countries, the average annual rates were as follows: the United States (+1.9% per year) and Germany (+8.5% per year).

Export Prices By Country

In 2022, the average electrical signalling apparatus export price amounted to $3.9 per unit, jumping by 32% against the previous year. Over the period under review, the export price saw a tangible increase. The most prominent rate of growth was recorded in 2015 an increase of 84% against the previous year. The global export price peaked at $5.4 per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($21 per unit), while Hong Kong SAR ($0.5 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+12.1%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform