CIS: Static Converter Market 2024

Static Converter Market Size in CIS

In 2021, after two years of decline, there was significant growth in the CIS static converter market, when its value increased by 47% to $X. The total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +9.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2021 and is expected to retain growth in the near future.

Static Converter Production in CIS

In value terms, static converter production reached $X in 2021 estimated in export price. In general, production saw a strong increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 343% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Static Converter Exports

Exports in CIS

After three years of decline, shipments abroad of static converters increased by 36% to X units in 2021. Over the period under review, exports posted a modest increase. The pace of growth appeared the most rapid in 2013 when exports increased by 60% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, static converter exports skyrocketed to $X in 2021. Total exports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 76%. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia was the key exporter of static converters in the CIS, with the volume of exports reaching X units, which was approx. 55% of total exports in 2021. It was distantly followed by Belarus (X units), Kazakhstan (X units) and Moldova (X units), together making up a 45% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to static converter exports from Russia stood at -2.4%. At the same time, Moldova (+47.2%), Kazakhstan (+27.0%) and Belarus (+4.2%) displayed positive paces of growth. Moreover, Moldova emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +47.2% from 2012-2021. While the share of Kazakhstan (+13 p.p.), Belarus (+5.5 p.p.) and Moldova (+4.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Russia (-22.7 p.p.) displayed negative dynamics.

In value terms, Russia ($X) remains the largest static converter supplier in the CIS, comprising 78% of total exports. The second position in the ranking was held by Belarus ($X), with a 17% share of total exports. It was followed by Moldova, with a 3.6% share.

In Russia, static converter exports expanded at an average annual rate of +2.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Belarus (+8.4% per year) and Moldova (+42.1% per year).

Export Prices by Country

The export price in the CIS stood at $X per unit in 2021, falling by -1.8% against the previous year. Export price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, static converter export price increased by +74.8% against 2018 indices. The pace of growth was the most pronounced in 2019 when the export price increased by 63%. The level of export peaked at $X per unit in 2020, and then contracted slightly in the following year.

Prices varied noticeably country of origin: the country with the highest price was Russia ($X per unit), while Kazakhstan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+4.5%), while the other leaders experienced mixed trends in the export price figures.

Static Converter Imports

Imports in CIS

In 2021, supplies from abroad of static converters increased by 49% to X units for the first time since 2018, thus ending a two-year declining trend. Total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 97% against the previous year. The volume of import peaked at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, static converter imports soared to $X in 2021. Total imports indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +9.9% against 2016 indices. The most prominent rate of growth was recorded in 2016 with an increase of 84%. The level of import peaked in 2021 and is likely to continue growth in the near future.

Imports by Country

Russia was the key importer of static converters in the CIS, with the volume of imports accounting for X units, which was near 55% of total imports in 2021. It was distantly followed by Kazakhstan (X units), achieving a 35% share of total imports. Uzbekistan (X units) and Kyrgyzstan (X units) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Kyrgyzstan (with a CAGR of +58.0%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Russia ($X) constitutes the largest market for imported static converters in the CIS, comprising 71% of total imports. The second position in the ranking was held by Kazakhstan ($X), with an 18% share of total imports. It was followed by Uzbekistan, with a 2.5% share.

In Russia, static converter imports expanded at an average annual rate of +3.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (+11.8% per year) and Uzbekistan (+15.9% per year).

Import Prices by Country

The import price in the CIS stood at $X per unit in 2021, dropping by -20% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the import price increased by 64%. As a result, import price attained the peak level of $X per unit, and then dropped remarkably in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+50.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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