CIS: Market for Solar Cells and Light-Emitting Diodes 2025

Market Size for Solar Cells and Light-Emitting Diodes in CIS

The CIS market for solar cells and light-emitting diodes expanded significantly to $X in 2022, rising by 5.2% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Solar Cells and Light-Emitting Diodes in CIS

In value terms, solar cells and light-emitting diodes production expanded modestly to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by 21% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Solar Cells and Light-Emitting Diodes

Exports in CIS

In 2022, shipments abroad of solar cells and light-emitting diodes decreased by -40% to X units for the first time since 2017, thus ending a four-year rising trend. Overall, exports, however, saw significant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 367% against the previous year. As a result, the exports attained the peak of X units, and then shrank sharply in the following year.

In value terms, solar cells and light-emitting diodes exports stood at $X in 2022. In general, exports, however, recorded a resilient expansion. The growth pace was the most rapid in 2020 with an increase of 173% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Russia prevails in exports structure, finishing at X units, which was approx. 93% of total exports in 2022. Belarus (X units) and Armenia (X units) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to solar cells and light-emitting diodes exports from Russia stood at +40.7%. At the same time, Armenia (+64.6%) and Belarus (+22.6%) displayed positive paces of growth. Moreover, Armenia emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +64.6% from 2012-2022. From 2012 to 2022, the share of Russia and Armenia increased by +40 and +2.1 percentage points, respectively.

In value terms, Russia ($X) remains the largest solar cells and light-emitting diodes supplier in the CIS, comprising 97% of total exports. The second position in the ranking was taken by Belarus ($X), with a 2.5% share of total exports.

In Russia, solar cells and light-emitting diodes exports increased at an average annual rate of +15.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Belarus (-2.0% per year) and Armenia (+30.8% per year).

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per unit, surging by 73% against the previous year. Over the period under review, the export price, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2017 when the export price increased by 85% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Russia ($X per unit), while Armenia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (-18.2%), while the other leaders experienced a decline in the export price figures.

Imports of Solar Cells and Light-Emitting Diodes

Imports in CIS

In 2022, approx. X units of solar cells and light-emitting diodes were imported in the CIS; shrinking by -6.2% against the previous year. Over the period under review, imports, however, showed a significant increase. The growth pace was the most rapid in 2014 with an increase of 120% against the previous year. The volume of import peaked at X units in 2021, and then dropped in the following year.

In value terms, solar cells and light-emitting diodes imports dropped to $X in 2022. Overall, imports, however, showed resilient growth. The growth pace was the most rapid in 2018 when imports increased by 49% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Russia represented the main importing country with an import of around X units, which accounted for 54% of total imports. Belarus (X units) took the second position in the ranking, followed by Kazakhstan (X units). All these countries together held approx. 44% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to solar cells and light-emitting diodes imports into Russia stood at +18.5%. At the same time, Belarus (+41.4%) and Kazakhstan (+27.0%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing importer imported in the CIS, with a CAGR of +41.4% from 2012-2022. From 2012 to 2022, the share of Belarus and Kazakhstan increased by +19 and +5.2 percentage points, respectively.

In value terms, Russia ($X) constitutes the largest market for imported solar cells and light-emitting diodes in the CIS, comprising 72% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 10% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Russia stood at +8.5%. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (+14.7% per year) and Belarus (+1.0% per year).

Import Prices by Country

The import price in the CIS stood at $X per unit in 2022, therefore, remained relatively stable against the previous year. Overall, the import price, however, continues to indicate a deep setback. The pace of growth was the most pronounced in 2015 an increase of 34% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Russia ($X per unit), while Belarus ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (-8.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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