Russian Federation: Market for Electrical Boards, Panels, Consoles, Desks and Cabinets 2024

Market Size for Electrical Boards, Panels, Consoles, Desks and Cabinets in the Russian Federation

In 2021, the Russian market for electrical boards, panels, consoles, desks and cabinets increased by 120% to $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption, however, saw a abrupt setback. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Exports of Electrical Boards, Panels, Consoles, Desks and Cabinets

Exports from the Russian Federation

In 2021, the amount of electrical boards, panels, consoles, desks and cabinets exported from Russia shrank notably to X units, declining by -20.7% on the previous year's figure. Overall, exports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of 46%. As a result, the exports reached the peak of X units. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, electric board, desk and panel exports shrank modestly to $X in 2021. Over the period under review, total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -4.6% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 36% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ukraine (X units), Belarus (X units) and Hungary (X units) were the main destinations of electric board, desk and panel exports from Russia, together comprising 63% of total exports.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +341.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electric board, desk and panel exported from Russia were Belarus ($X), Kazakhstan ($X) and Hungary ($X), with a combined 67% share of total exports.

Hungary, with a CAGR of +274.0%, recorded 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 export price for electrical boards, panels, consoles, desks and cabinets stood at $X per unit in 2021, surging by 22% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kazakhstan ($X per unit), while the average price for exports to Kyrgyzstan ($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 Uzbekistan (+1.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electrical Boards, Panels, Consoles, Desks and Cabinets

Imports into the Russian Federation

In 2021, after three years of decline, there was significant growth in supplies from abroad of electrical boards, panels, consoles, desks and cabinets, when their volume increased by 16% to X units. Over the period under review, imports, however, saw a drastic downturn. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, electric board, desk and panel imports skyrocketed to $X in 2021. Overall, imports, however, faced a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 24%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Belarus (X units) constituted the largest electric board, desk and panel supplier to Russia, accounting for a 40% share of total imports. Moreover, electric board, desk and panel imports from Belarus exceeded the figures recorded by the second-largest supplier, China (X units), twofold. Germany (X units) ranked third in terms of total imports with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Belarus stood at +28.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-14.3% per year) and Germany (-25.6% per year).

In value terms, China ($X), Belarus ($X) and Germany ($X) appeared to be the largest electric board, desk and panel suppliers to Russia, with a combined 56% share of total imports. These countries were followed by Italy, Taiwan (Chinese), Hungary, Poland, Turkey, Bulgaria, Ukraine, France and the Czech Republic, which together accounted for a further 35%.

Bulgaria, with a CAGR of +44.2%, recorded the highest rates of growth with regard to 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 import price for electrical boards, panels, consoles, desks and cabinets stood at $X per unit in 2021, almost unchanged from the previous year. Over the last nine-year period, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2020 when the average import price increased by 26%. The import price peaked in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($X per unit), while the price for Belarus ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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