Ireland: Static Converter Market 2024

Static Converter Market Size in Ireland

The Irish static converter market surged to $X in 2021, growing by 161% against the previous year. Over the period under review, consumption showed a prominent increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Static Converter Production in Ireland

In value terms, static converter production fell notably to $X in 2021 estimated in export price. Over the period under review, production, however, saw strong growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by 461% against the previous year. Static converter production peaked at $X in 2020, and then contracted notably in the following year.

Static Converter Exports

Exports from Ireland

After five years of growth, overseas shipments of static converters decreased by -71.7% to X units in 2021. In general, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 206% against the previous year. As a result, the exports attained the peak of X units, and then contracted significantly in the following year.

In value terms, static converter exports skyrocketed to $X in 2021. Overall, exports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 74% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X units), Slovakia (X units) and Belgium (X units) were the main destinations of static converter exports from Ireland, together comprising 76% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovakia (with a CAGR of +104.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for static converter exported from Ireland were Germany ($X), Slovakia ($X) and Belgium ($X), with a combined 70% share of total exports.

Slovakia, with a CAGR of +88.6%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average static converter export price stood at $X per unit in 2021, rising by 385% against the previous year. In general, the export price, however, continues to indicate a perceptible downturn. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Singapore ($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 Switzerland (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Static Converter Imports

Imports into Ireland

In 2021, approx. X units of static converters were imported into Ireland; flattening at 2020 figures. Over the period under review, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 1,350%. As a result, imports reached the peak of X units. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, static converter imports skyrocketed to $X in 2021. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.9% 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 +62.2% against 2016 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 18%. Imports peaked in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, China (X units) constituted the largest supplier of static converter to Ireland, with a 37% share of total imports. Moreover, static converter imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The UK (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+25.9% per year) and the UK (+1.7% per year).

In value terms, China ($X) constituted the largest supplier of static converters to Ireland, comprising 38% of total imports. The second position in the ranking was held by the UK ($X), with a 12% share of total imports. It was followed by the Netherlands, with a 7.3% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+4.2% per year) and the Netherlands (+8.4% per year).

Import Prices by Country

The average static converter import price stood at $X per unit in 2021, rising by 15% against the previous year. Over the period under review, the import price, however, continues to indicate a deep setback. The most prominent rate of growth was recorded in 2017 an increase of 900%. As a result, import price reached the peak level of $X per unit. From 2018 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per unit), while the price for Spain ($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 Philippines (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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