Asia-Pacific: Static Converter Market 2025

Static Converter Market Size in Asia-Pacific

The Asia-Pacific static converter market dropped dramatically to $X in 2021, which is down by -26.2% against the previous year. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2020, and then shrank sharply in the following year.

Static Converter Production in Asia-Pacific

In value terms, static converter production contracted to $X in 2021 estimated in export price. In general, production continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2020 when the production volume increased by 20%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Static Converter Exports

Exports in Asia-Pacific

Static converter exports skyrocketed to X units in 2021, jumping by 24% on 2020 figures. Total exports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +6.6% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 53% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, static converter exports soared to $X in 2021. The total export value increased at an average annual rate of +5.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the major exporting country with an export of around X units, which amounted to 70% of total exports. It was distantly followed by Hong Kong SAR (X units), committing a 16% share of total exports. The following exporters - Japan (X units), Singapore (X units) and Taiwan (Chinese) (X units) - each amounted to a 7.8% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to static converter exports from China stood at +5.7%. At the same time, Taiwan (Chinese) (+6.0%), Japan (+5.3%) and Singapore (+1.8%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +6.0% from 2012-2021. Hong Kong SAR experienced a relatively flat trend pattern. China (+16 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by -5.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest static converter supplier in Asia-Pacific, comprising 61% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 12% share of total exports. It was followed by Japan, with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +6.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (+0.2% per year) and Japan (+4.5% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per unit, rising by 5% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.5%. The growth pace was the most rapid in 2016 an increase of 36%. Over the period under review, the export prices attained the maximum at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Japan ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+1.9%), while the other leaders experienced more modest paces of growth.

Static Converter Imports

Imports in Asia-Pacific

Static converter imports expanded notably to X units in 2021, rising by 13% against 2020. The total import volume increased at an average annual rate of +4.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, static converter imports soared to $X in 2021. The total import value increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Hong Kong SAR (X units) represented the key importer of static converters, generating 34% of total imports. China (X units) took the second position in the ranking, followed by India (X units), Vietnam (X units), Japan (X units), Malaysia (X units) and Taiwan (Chinese) (X units). All these countries together took approx. 50% share of total imports. The following importers - Singapore (X units) and South Korea (X units) - each amounted to a 7.4% share of total imports.

Imports into Hong Kong SAR increased at an average annual rate of +1.8% from 2012 to 2021. At the same time, India (+20.7%), Vietnam (+16.2%), Malaysia (+6.0%), Taiwan (Chinese) (+5.2%), Singapore (+5.2%), China (+4.5%) and Japan (+2.1%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +20.7% from 2012-2021. By contrast, South Korea (-2.3%) illustrated a downward trend over the same period. India (+8 p.p.) and Vietnam (+4.7 p.p.) significantly strengthened its position in terms of the total imports, while Japan, South Korea and Hong Kong SAR saw its share reduced by -1.6%, -3% and -8.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Hong Kong SAR ($X) and Japan ($X) constituted the countries with the highest levels of imports in 2021, together comprising 52% of total imports. These countries were followed by South Korea, Taiwan (Chinese), India, Malaysia, Vietnam and Singapore, which together accounted for a further 34%.

In terms of the main importing countries, Vietnam, with a CAGR of +14.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2021, rising by 7.7% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The level of import peaked at $X per unit in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was South Korea ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+5.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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