Central Asia: Market for Solar Cells and Light-Emitting Diodes 2024

Market Size for Solar Cells and Light-Emitting Diodes in Central Asia

The Central Asian market for solar cells and light-emitting diodes expanded significantly to $X in 2022, with an increase of 6.6% against the previous year. The total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.8% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Production of Solar Cells and Light-Emitting Diodes in Central Asia

In value terms, solar cells and light-emitting diodes production rose to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 20% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Solar Cells and Light-Emitting Diodes

Exports in Central Asia

In 2022, shipments abroad of solar cells and light-emitting diodes decreased by -20.9% to X units, falling for the third year in a row after three years of growth. Overall, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 77% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, solar cells and light-emitting diodes exports reduced sharply to $X in 2022. In general, exports recorded a drastic downturn. The growth pace was the most rapid in 2018 when exports increased by 44%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Kazakhstan represented the largest exporting country with an export of around X units, which reached 68% of total exports. Mongolia (X units) held the second position in the ranking, distantly followed by Kyrgyzstan (X units). All these countries together held near 31% share of total exports.

Exports from Kazakhstan decreased at an average annual rate of -16.2% from 2012 to 2022. At the same time, Kyrgyzstan (+15.0%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing exporter exported in Central Asia, with a CAGR of +15.0% from 2012-2022. By contrast, Mongolia (-8.9%) illustrated a downward trend over the same period. While the share of Mongolia (+11 p.p.) and Kyrgyzstan (+6.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Kazakhstan (-17.8 p.p.) displayed negative dynamics.

In value terms, Kazakhstan ($X) remains the largest solar cells and light-emitting diodes supplier in Central Asia, comprising 63% of total exports. The second position in the ranking was taken by Mongolia ($X), with a 4.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Kazakhstan amounted to -8.8%. In the other countries, the average annual rates were as follows: Mongolia (-22.9% per year) and Kyrgyzstan (+15.8% per year).

Export Prices by Country

In 2022, the export price in Central Asia amounted to $X per unit, which is down by -41.7% against the previous year. Export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when the export price increased by 82%. The level of export peaked at $X per unit in 2021, and then declined remarkably in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per unit), while Mongolia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+8.9%), while the other leaders experienced mixed trends in the export price figures.

Imports of Solar Cells and Light-Emitting Diodes

Imports in Central Asia

In 2022, imports of solar cells and light-emitting diodes in Central Asia expanded significantly to X units, picking up by 9.4% on the previous year. Overall, imports recorded a significant increase. The growth pace was the most rapid in 2020 with an increase of 112% against the previous year. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, solar cells and light-emitting diodes imports skyrocketed to $X in 2022. Over the period under review, imports recorded a prominent increase. The pace of growth appeared the most rapid in 2013 when imports increased by 90%. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Kazakhstan prevails in imports structure, reaching X units, which was near 96% of total imports in 2022. The following importers - Uzbekistan (X units) and Mongolia (X units) - each reached a 3.8% share of total imports.

Kazakhstan was also the fastest-growing in terms of the solar cells and light-emitting diodes imports, with a CAGR of +27.0% from 2012 to 2022. At the same time, Uzbekistan (+12.8%) and Mongolia (+6.7%) displayed positive paces of growth. From 2012 to 2022, the share of Kazakhstan increased by +16 percentage points.

In value terms, Kazakhstan ($X) constitutes the largest market for imported solar cells and light-emitting diodes in Central Asia, comprising 83% of total imports. The second position in the ranking was held by Uzbekistan ($X), with a 14% share of total imports.

In Kazakhstan, solar cells and light-emitting diodes imports increased at an average annual rate of +14.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Uzbekistan (+10.2% per year) and Mongolia (-2.2% per year).

Import Prices by Country

In 2022, the import price in Central Asia amounted to $X per unit, growing by 10% against the previous year. In general, the import price, however, saw a abrupt decrease. The growth pace was the most rapid in 2013 an increase of 34% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Uzbekistan ($X per unit), while Mongolia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (-2.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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