Plugs and Socket Price in the United States - 2024
Contents:
- Plugs and Socket Price in the United States (CIF) - 2022
- Plugs and Socket Price in the United States (FOB) - 2024
- Plugs and Socket Imports in the United States
- Plugs and Socket Exports in the United States
Plugs and Socket Price in the United States (CIF) - 2022
The average plugs and socket import price stood at $0.7 per unit in 2022, picking up by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($1.5 per unit), while the price for Malaysia ($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 Switzerland (+12.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Plugs and Socket Price in the United States (FOB) - 2024
In September 2023, the average plugs and socket export price amounted to $2.4 per unit, growing by 6.8% against the previous month. Over the period under review, the export price, however, showed a mild decline. The pace of growth was the most pronounced in June 2023 when the average export price increased by 12% against the previous month. As a result, the export price reached the peak level of $2.5 per unit. From July 2023 to September 2023, the the average export prices remained at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was the UK ($9.7 per unit), while the average price for exports to Honduras ($541 per thousand units) was amongst the lowest.
From April 2023 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+16.7%), while the prices for the other major destinations experienced more modest paces of growth.
Plugs and Socket Imports in the United States
In 2022, imports of electrical plugs and sockets for under 1000 v into the United States reached 5.2B units, with an increase of 3% compared with 2021. The total import volume increased at an average annual rate of +4.3% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 28% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, plugs and socket imports soared to $3.4B in 2022. The total import value increased at an average annual rate of +7.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 23% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the near future.
| Import of Plugs and Socket in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 761 | 672 | 709 | 844 | 3.5% |
| China | 687 | 537 | 719 | 808 | 5.6% |
| Taiwan (Chinese) | 159 | 148 | 213 | 240 | 14.7% |
| Germany | 187 | 162 | 211 | 231 | 7.3% |
| Japan | 196 | 171 | 191 | 213 | 2.8% |
| Malaysia | 100 | 90.3 | 111 | 143 | 12.7% |
| South Korea | 65.5 | 66.1 | 83.4 | 127 | 24.7% |
| India | 64.0 | 56.8 | 76.5 | 94.3 | 13.8% |
| Vietnam | 35.4 | 47.5 | 79.3 | 81.9 | 32.3% |
| France | 88.8 | 71.8 | 68.3 | 80.3 | -3.3% |
| United Kingdom | 62.1 | 43.2 | 38.4 | 52.7 | -5.3% |
| Others | 367 | 323 | 437 | 483 | 9.6% |
| Total | 2,773 | 2,389 | 2,938 | 3,398 | 7.0% |
Top Suppliers of Plugs and Socket to the United States in 2022:
- China (1492.7M units)
- Mexico (602.7M units)
- Taiwan (Chinese) (498.0M units)
- Japan (478.2M units)
- Malaysia (448.7M units)
- Germany (376.3M units)
- South Korea (215.3M units)
- India (205.8M units)
- Vietnam (176.6M units)
- France (144.2M units)
- United Kingdom (97.8M units)
Plugs and Socket Exports in the United States
In 2022, shipments abroad of electrical plugs and sockets for under 1000 v was finally on the rise to reach 1.6B units after two years of decline. Overall, exports, however, faced a sharp decrease. The exports peaked at 5.3B units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
In value terms, plugs and socket exports expanded markedly to $3.3B in 2022. The total export value increased at an average annual rate of +4.9% from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 14% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.
| Export of Plugs and Socket in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 877 | 765 | 746 | 886 | 0.3% |
| Canada | 299 | 266 | 317 | 371 | 7.5% |
| China | 199 | 234 | 258 | 214 | 2.5% |
| Hong Kong SAR | 176 | 141 | 169 | 144 | -6.5% |
| Japan | 69.3 | 66.2 | 92.6 | 111 | 17.0% |
| Germany | 132 | 99.7 | 108 | 109 | -6.2% |
| France | 62.2 | 52.7 | 67.4 | 98.7 | 16.6% |
| Taiwan (Chinese) | 50.6 | 64.4 | 76.0 | 89.3 | 20.8% |
| Singapore | 83.6 | 75.2 | 82.1 | 86.4 | 1.1% |
| Costa Rica | 25.0 | 29.4 | 42.3 | 67.7 | 39.4% |
| Netherlands | 34.9 | 33.9 | 58.7 | 61.0 | 20.5% |
| Thailand | 22.4 | 22.9 | 31.8 | 54.1 | 34.2% |
| Honduras | 35.1 | 37.5 | 40.9 | 43.7 | 7.6% |
| Others | 753 | 677 | 823 | 921 | 6.9% |
| Total | 2,820 | 2,565 | 2,913 | 3,257 | 4.9% |
Top Export Markets for Plugs and Socket from the United States in 2022:
- Mexico (594.6M units)
- China (128.9M units)
- Thailand (121.4M units)
- Hong Kong SAR (83.3M units)
- Honduras (82.7M units)
- Canada (77.1M units)
- France (75.7M units)
- Netherlands (57.7M units)
- Japan (38.9M units)
- Singapore (38.4M units)
- Germany (35.2M units)
- Costa Rica (32.8M units)
- Taiwan (Chinese) (26.1M units)
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