Russian Federation: Electrical Insulator Market 2024

Electrical Insulator Market Size in the Russian Federation

The Russian electrical insulator market shrank slightly to $X in 2022, leveling off at the previous year. Over the period under review, consumption, however, showed a buoyant expansion. Electrical insulator consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Electrical Insulator Production in the Russian Federation

In value terms, electrical insulator production fell to $X in 2022 estimated in export price. In general, production, however, enjoyed a significant expansion. The growth pace was the most rapid in 2013 when the production volume increased by 902% against the previous year. Electrical insulator production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Electrical Insulator Exports

Exports from the Russian Federation

After three years of growth, overseas shipments of electrical insulators decreased by -5.7% to X units in 2022. In general, exports, however, showed moderate growth. The pace of growth was the most pronounced in 2019 with an increase of 88% against the previous year. Over the period under review, the exports hit record highs at X units in 2021, and then fell in the following year.

In value terms, electrical insulator exports reduced slightly to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when exports increased by 36% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then shrank modestly in the following year.

Exports by Country

Brazil (X units) was the main destination for electrical insulator exports from Russia, with a 34% share of total exports. Moreover, electrical insulator exports to Brazil exceeded the volume sent to the second major destination, Kazakhstan (X units), threefold. Peru (X units) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Brazil amounted to +36.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (-6.0% per year) and Peru (+18.9% per year).

In value terms, the largest markets for electrical insulator exported from Russia were Kazakhstan ($X), Brazil ($X) and Belarus ($X), with a combined 60% share of total exports. Peru, Uzbekistan, Ukraine, Malaysia and Azerbaijan lagged somewhat behind, together comprising a further 25%.

Among the main countries of destination, Malaysia, with a CAGR of +202.3%, recorded the highest growth rate of 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

The average electrical insulator export price stood at $X per unit in 2022, growing by 3.3% against the previous year. Over the period under review, the export price, however, showed a perceptible slump. The most prominent rate of growth was recorded in 2017 when the average export price increased by 38%. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Belarus ($X per unit), while the average price for exports to Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Insulator Imports

Imports into the Russian Federation

In 2022, electrical insulator imports into Russia soared to X units, with an increase of 18% on 2021. Over the period under review, imports, however, showed a slight slump. The most prominent rate of growth was recorded in 2020 when imports increased by 27%. Imports peaked at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, electrical insulator imports shrank modestly to $X in 2022. Overall, imports, however, continue to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 32%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main supplier of electrical insulator to Russia, accounting for a 91% share of total imports. It was followed by India (X units), with a 1.9% share of total imports. Ukraine (X units) ranked third in terms of total imports with a 0.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+6.1% per year) and Ukraine (-22.2% per year).

In value terms, China ($X) constituted the largest supplier of electrical insulators to Russia, comprising 42% of total imports. The second position in the ranking was held by India ($X), with a 13% share of total imports. It was followed by Ukraine, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+16.2% per year) and Ukraine (-15.3% per year).

Import Prices by Country

The average electrical insulator import price stood at $X per unit in 2022, declining by -15.5% against the previous year. In general, the import price recorded a noticeable slump. The growth pace was the most rapid in 2016 an increase of 32%. Over the period under review, average import prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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