Cuba: Accumulator Market 2025

Accumulator Market Size in Cuba

After two years of decline, the Cuban accumulator market increased by 128% to $X in 2021. In general, consumption continues to indicate a resilient expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Accumulator Exports

Exports from Cuba

In 2021, overseas shipments of electric accumulators increased by 83% to X units, rising for the third consecutive year after six years of decline. Overall, exports, however, saw a deep slump. The most prominent rate of growth was recorded in 2020 when exports increased by 495%. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, accumulator exports surged to $X in 2021. In general, exports, however, showed a abrupt decline. The growth pace was the most rapid in 2020 when exports increased by 114% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X units) was the main destination for accumulator exports from Cuba, accounting for a 1% share of total exports. It was followed by Costa Rica (X units), with less than 0.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK totaled +107.8%.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK totaled +84.7%.

Export Prices by Country

The average accumulator export price stood at $X per unit in 2021, declining by -16.2% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 151% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Costa Rica totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+94.5%), while the prices for the other major destinations experienced a decline.

Accumulator Imports

Imports into Cuba

In 2021, purchases abroad of electric accumulators increased by 102% to X units, rising for the fourth consecutive year after two years of decline. In general, imports showed a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, accumulator imports soared to $X in 2021. Overall, imports enjoyed a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Spain (X units), China (X units) and Panama (X units) were the main suppliers of accumulator imports to Cuba, with a combined 4.7% share of total imports. Russia, South Korea, the Dominican Republic, Brazil, Italy, Mexico and New Zealand lagged somewhat behind, together comprising a further 1.8%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +47.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest accumulator suppliers to Cuba were China ($X), Spain ($X) and Panama ($X), together comprising 47% of total imports. These countries were followed by Russia, South Korea, Brazil, Italy, the Dominican Republic, New Zealand and Mexico, which together accounted for a further 16%.

Among the main suppliers, South Korea, with a CAGR of +44.1%, 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

The average accumulator import price stood at $X per unit in 2021, growing by 7.6% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 174% against the previous year. The import price peaked at $X per unit in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Brazil ($X per unit), while the price for the Dominican Republic ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+21.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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