CIS: Timer Market 2024

Timer Market Size in CIS

The CIS timer market fell sharply to $X in 2022, declining by -21.9% against the previous year. In general, consumption saw a abrupt downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Timer Production in CIS

In value terms, timer production contracted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2018 when the production volume increased by 49%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Timer Exports

Exports in CIS

In 2022, overseas shipments of timers were finally on the rise to reach X units after two years of decline. In general, exports enjoyed a modest expansion. The most prominent rate of growth was recorded in 2014 with an increase of 110% against the previous year. The volume of export peaked at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, timer exports surged to $X in 2022. Over the period under review, exports, however, showed a abrupt downturn. The pace of growth appeared the most rapid in 2014 with an increase of 180% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Russia represented the key exporter of timers in the CIS, with the volume of exports accounting for X units, which was near 63% of total exports in 2022. It was distantly followed by Belarus (X units), achieving a 36% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +8.9%).

In value terms, Russia ($X) remains the largest timer supplier in the CIS, comprising 91% of total exports. The second position in the ranking was held by Belarus ($X), with a 7.9% share of total exports.

In Russia, timer exports contracted by an average annual rate of -7.7% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per unit, falling by -22.9% against the previous year. Overall, the export price faced a deep setback. The pace of growth was the most pronounced in 2018 when the export price increased by 79%. Over the period under review, the export prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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 Belarus totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (-13.5%).

Timer Imports

Imports in CIS

In 2022, the amount of timers imported in the CIS dropped rapidly to X units, with a decrease of -40.3% on the year before. Over the period under review, imports, however, saw a moderate increase. The pace of growth appeared the most rapid in 2016 when imports increased by 209% against the previous year. Over the period under review, imports reached the peak figure at X units in 2021, and then contracted dramatically in the following year.

In value terms, timer imports reduced slightly to $X in 2022. In general, imports continue to indicate a noticeable contraction. The pace of growth appeared the most rapid in 2016 when imports increased by 51% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Russia (X units) was the largest importer of timers, committing 62% of total imports. Armenia (X units) ranks second in terms of the total imports with a 17% share, followed by Kazakhstan (10%) and Moldova (6.9%). Azerbaijan (X units) took a little share of total imports.

Imports into Russia increased at an average annual rate of +3.9% from 2012 to 2022. At the same time, Kazakhstan (+29.0%) and Moldova (+20.3%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +29.0% from 2012-2022. By contrast, Armenia (-2.2%) and Azerbaijan (-3.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Kazakhstan, Moldova and Russia increased by +9.1, +5.4 and +1.6 percentage points, respectively.

In value terms, Russia ($X), Kazakhstan ($X) and Azerbaijan ($X) constituted the countries with the highest levels of imports in 2022, together comprising 86% of total imports.

Among the main importing countries, Kazakhstan, with a CAGR of +20.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in the CIS stood at $X per unit in 2022, growing by 61% against the previous year. Overall, the import price, however, showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2013 an increase of 81% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2022, 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 Azerbaijan ($X per unit), while Armenia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Armenia (+3.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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