June 2023 Sees Average Chinese Circuit Breaker Exports Reach $170M

June 2023 Sees Average Chinese Circuit Breaker Exports Reach $170M

China Circuit Breaker Exports

Shipments of automatic circuit breakers from China declined by -2.7% to 52M units in June 2023, marking the second consecutive month of decrease after two months of growth. Overall, exports showed a relatively stable trend. The most significant growth rate was recorded in March 2023 with a 111% increase month-on-month. The exports reached a peak of 62M units in April 2023 but slightly decreased from May to June 2023.

In terms of value, circuit breaker exports in June 2023 declined slightly to $170M (IndexBox estimates). However, overall exports showed modest expansion. The highest growth rate was observed in March 2023, with a 77% increase month-on-month. From August 2022 to June 2023, exports remained at a relatively lower level after reaching a peak of 177M units in July 2022.

Exports by Country

Russia was the primary destination for circuit breaker exports from China, accounting for a 17% share of total exports. Brazil followed closely with a twofold lower volume. Turkey ranked third in terms of export volume, with an 8.2% share.

From June 2022 to June 2023, the monthly growth rate in exports to Russia averaged +4.5%. Brazil experienced a monthly decline of -2.5%, while exports to Turkey grew at a rate of +2.0% per month.

In terms of value, Russia, the UK, and Turkey were the largest markets for circuit breaker exports from China, accounting for 22% of total exports. The Philippines, Brazil, the United States, Vietnam, Thailand, Malaysia, Argentina, Bangladesh, Pakistan, and Morocco accounted for another 22% share.

Argentina had the highest growth rate in export value with a CAGR of +5.4% during the period. Other leading destinations experienced more modest growth rates.

Exports by Type

Electrical apparatus; automatic circuit breakers, for a voltage not exceeding 1000 volts accounted for 99% of total circuit breaker exports from China. Electrical apparatus; automatic circuit breakers, for a voltage exceeding 1000 volts but less than 72.5kV had a 0.6% share.

From June 2022 to June 2023, the average monthly growth rate for the export volume of electrical apparatus; automatic circuit breakers, for a voltage not exceeding 1000 volts was relatively modest. The volume of electrical apparatus; automatic circuit breakers, for a voltage exceeding 1000 volts but less than 72.5kV grew at a rate of +21.1% per month, while those for a voltage of 72.5kV or more grew at +16.6% per month.

In terms of value, electrical apparatus; automatic circuit breakers, for a voltage not exceeding 1000 volts accounted for 79% of total exports, followed by electrical apparatus; automatic circuit breakers, for a voltage of 72.5kV or more with a 14% share.

From June 2022 to June 2023, the average monthly growth rate for the export volume of electrical apparatus; automatic circuit breakers, for a voltage not exceeding 1000 volts was relatively modest. However, the export volume of electrical apparatus; automatic circuit breakers, for a voltage exceeding 1000 volts but less than 72.5kV grew at a rate of +8.1% per month, and those for a voltage of 72.5kV or more grew at a rate of +6.0% per month.

Export Prices by Country

In June 2023, the average circuit breaker price was $3.3 per unit (FOB, China), increasing by 2.7% compared to the previous month. From June 2022 to June 2023, the average monthly increase in price was +1.4%. The most significant growth rate was observed in February 2023, with a 55% increase month-to-month. The export price reached its peak at $4,273 per thousand units. From March to June 2023, the average export prices remained at a lower level.

The average prices for circuit breakers varied significantly among the major export destinations. The UK had the highest price at $7.0 per unit, while Morocco had one of the lowest prices at $683 per thousand units.

From June 2022 to June 2023, the most notable price growth rate was observed in exports to Thailand (+4.8%), while other major destinations experienced more modest price growth rates.

Source: IndexBox Market Intelligence Platform

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