Asia: Static Converter Market 2024

Static Converter Market Size in Asia

The Asian static converter market reduced rapidly to $X in 2021, shrinking by -21.8% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2020, and then dropped markedly in the following year.

Static Converter Production in Asia

In value terms, static converter production contracted to $X in 2021 estimated in export price. In general, production saw a pronounced descent. The pace of growth was the most pronounced in 2020 when the production volume increased by 20% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Static Converter Exports

Exports in Asia

Static converter exports skyrocketed to X units in 2021, growing by 24% on 2020 figures. Total exports indicated a pronounced 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 +6.4% against 2018 indices. The growth pace was the most rapid in 2018 with an increase of 53% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, static converter exports surged 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 throughout the analyzed period. 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 exporter of static converters in Asia, with the volume of exports finishing at X units, which was approx. 70% of total exports in 2021. It was distantly followed by Hong Kong SAR (X units), comprising a 16% share of total exports. The following exporters - Japan (X units), Singapore (X units) and Taiwan (Chinese) (X units) - each finished at a 7.8% share of total exports.

Exports from China increased at an average annual rate of +5.7% from 2012 to 2021. 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, with a CAGR of +6.0% from 2012-2021. Hong Kong SAR experienced a relatively flat trend pattern. While the share of China (+16 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Hong Kong SAR (-5.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest static converter supplier in Asia, comprising 60% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 12% share of total exports. It was followed by Japan, with a 6.1% share.

In China, static converter exports increased at an average annual rate of +6.7% over the period from 2012-2021. 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 amounted to $X per unit, growing by 5.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.6%. The pace of growth appeared the most rapid in 2016 an increase of 36% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: 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

In 2021, approx. X units of static converters were imported in Asia; with an increase of 14% against 2020. The total import volume increased at an average annual rate of +4.5% 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 skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Hong Kong SAR represented the largest importing country with an import of about X units, which resulted at 31% of total imports. China (X units) ranks second in terms of the total imports with a 13% share, followed by India (10%), Vietnam (7%), Japan (6.2%) and Malaysia (5.1%). The following importers - Taiwan (Chinese) (X units), Singapore (X units), South Korea (X units), Indonesia (X units), Turkey (X units) and Thailand (X units) - together made up 20% 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%), Indonesia (+7.6%), Malaysia (+6.0%), Taiwan (Chinese) (+5.2%), Singapore (+5.2%), China (+4.5%), Turkey (+4.1%), Japan (+2.1%) and Thailand (+1.7%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in Asia, with a CAGR of +20.7% from 2012-2021. By contrast, South Korea (-2.3%) illustrated a downward trend over the same period. While the share of India (+7.4 p.p.) and Vietnam (+4.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of South Korea (-2.8 p.p.) and Hong Kong SAR (-8.2 p.p.) displayed negative dynamics. 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, with a combined 48% share of total imports. These countries were followed by South Korea, Taiwan (Chinese), India, Malaysia, Vietnam, Singapore, Turkey, Thailand and Indonesia, which together accounted for a further 40%.

Among the main importing countries, Vietnam, with a CAGR of +14.9%, saw the highest rates of growth with regard to 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

In 2021, the import price in Asia amounted to $X per unit, increasing by 8.7% 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 remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was South Korea ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+6.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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