Greece: Static Converter Market 2025

Static Converter Market Size in Greece

The Greek static converter market surged to $X in 2021, with an increase of 60% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a significant increase. Static converter consumption peaked in 2021 and is expected to retain growth in the near future.

Static Converter Exports

Exports from Greece

In 2021, overseas shipments of static converters increased by 79% to X units, rising for the second consecutive year after two years of decline. Overall, exports saw significant growth. The growth pace was the most rapid in 2016 with an increase of 261% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, static converter exports skyrocketed to $X in 2021. In general, exports, however, showed a slight shrinkage. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Bulgaria (X units) was the main destination for static converter exports from Greece, accounting for a 25% share of total exports. Moreover, static converter exports to Bulgaria exceeded the volume sent to the second major destination, Cyprus (X units), twofold. Serbia (X units) ranked third in terms of total exports with a 3.4% share.

From 2012 to 2021, the average annual growth rate of volume to Bulgaria stood at +38.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+72.3% per year) and Serbia (+86.2% per year).

In value terms, Cyprus ($X), Bulgaria ($X) and Italy ($X) were the largest markets for static converter exported from Greece worldwide, with a combined 61% share of total exports. Romania, Serbia, the United States, Albania and Malta lagged somewhat behind, together accounting for a further 11%.

Among the main countries of destination, Malta, with a CAGR of +30.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average static converter export price amounted to $X per unit, declining by -27.7% against the previous year. In general, the export price continues to indicate a sharp shrinkage. The most prominent rate of growth was recorded in 2013 when the average export price increased by 83%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Cyprus ($X per unit), while the average price for exports to Serbia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Albania (-19.0%), while the prices for the other major destinations experienced a decline.

Static Converter Imports

Imports into Greece

For the tenth year in a row, Greece recorded growth in purchases abroad of static converters, which increased by 62% to X units in 2021. Overall, imports posted a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 852% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, static converter imports surged to $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of static converter to Greece, with a 34% share of total imports. Moreover, static converter imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), fivefold. Austria (X units) ranked third in terms of total imports with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +46.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+58.6% per year) and Austria (+69.7% per year).

In value terms, the Netherlands ($X), China ($X) and Germany ($X) appeared to be the largest static converter suppliers to Greece, together comprising 56% of total imports. Austria, Sweden, Spain and Hungary lagged somewhat behind, together comprising a further 24%.

Sweden, with a CAGR of +61.4%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average static converter import price stood at $X per unit in 2021, rising by 3.4% against the previous year. In general, the import price, however, saw a dramatic decrease. The growth pace was the most rapid in 2018 when the average import price increased by 22%. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (-23.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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