Romania: Static Converter Market 2024

Static Converter Market Size in Romania

In 2021, the Romanian static converter market increased by 36% to $X, rising for the third consecutive year after five years of decline. Overall, consumption recorded modest growth. Static converter consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Static Converter Production in Romania

In value terms, static converter production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, enjoyed a notable increase. The most prominent rate of growth was recorded in 2018 with an increase of 127%. Over the period under review, production reached the peak level in 2021 and is expected to retain growth in the near future.

Static Converter Exports

Exports from Romania

In 2021, static converter exports from Romania skyrocketed to X units, with an increase of 22% compared with the year before. In general, exports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 596% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in the immediate term.

In value terms, static converter exports totaled $X in 2021. Over the period under review, exports recorded prominent growth. The pace of growth was the most pronounced in 2018 when exports increased by 96%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X units), Austria (X units) and Italy (X units) were the main destinations of static converter exports from Romania, together comprising 75% of total exports. The United States, Spain, Hungary, the UK, the Netherlands and Ireland lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +78.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Austria ($X) and Italy ($X) constituted the largest markets for static converter exported from Romania worldwide, together comprising 70% of total exports. The United States, Spain, the Netherlands, the UK, Hungary and Ireland lagged somewhat behind, together accounting for a further 15%.

The United States, with a CAGR of +67.6%, recorded the highest rates of growth with regard to the value of exports, in terms of 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, reducing by -10.4% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 495% 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.

Prices varied noticeably country of destination: the country with the highest price was the Netherlands ($X per unit), while the average price for exports to the United States ($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 Ireland (+26.7%), while the prices for the other major destinations experienced more modest paces of growth.

Static Converter Imports

Imports into Romania

In 2021, overseas purchases of static converters increased by 29% to X units, rising for the third year in a row after five years of decline. Overall, imports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 241%. Imports peaked at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, static converter imports skyrocketed to $X in 2021. Over the period under review, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.8% 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 +114.4% against 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of 36% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest static converter supplier to Romania, with a 57% share of total imports. Moreover, static converter imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), sixfold. The Netherlands (X units) ranked third in terms of total imports with a 9% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +13.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.5% per year) and the Netherlands (+5.9% per year).

In value terms, China ($X) constituted the largest supplier of static converters to Romania, comprising 36% of total imports. The second position in the ranking was held by Germany ($X), with an 18% share of total imports. It was followed by the Netherlands, with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +13.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.2% per year) and the Netherlands (+3.4% per year).

Import Prices by Country

In 2021, the average static converter import price amounted to $X per unit, surging by 3.1% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 122%. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Hungary ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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