In 2023, the import of electrical plugs and sockets to China stood at 1.146 billion US dollars. The forecasted data indicates a year-on-year decrease: 2024 (1.1255B), 2025 (1.1049B), 2026 (1.0848B), 2027 (1.065B), 2028 (1.0457B). This represents a continuing trend of slight declines, reflecting a potential shift in market dynamics or increased domestic production and competition.
Key insights:
- 2024 vs. 2023: -1.8%
- 2025 vs. 2024: -1.84%
- 2026 vs. 2025: -1.82%
- 2027 vs. 2026: -1.83%
- 2028 vs. 2027: -1.83%
The compound annual growth rate (CAGR) over the forecasted five-year period shows an average annual decline of 1.82%.
Future trends to watch include potential policy changes, technological advancements in domestic manufacturing, and shifts in trade relations which could further influence China’s import levels of electrical plugs and sockets.