Russian Federation: Machinery Electrical Parts Market 2025

Machinery Electrical Parts Market Size in the Russian Federation

In 2022, after eight years of growth, there was significant decline in the Russian machinery electrical parts market, when its value decreased by -11.2% to $X. Overall, consumption, however, showed significant growth. Over the period under review, the market reached the maximum level at $X in 2021, and then dropped in the following year.

Machinery Electrical Parts Exports

Exports from the Russian Federation

In 2022, shipments abroad of electrical parts of machinery or apparatus decreased by -11.2% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 1,524% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, machinery electrical parts exports surged to $X in 2022. In general, exports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 712%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Belarus (X kg), Kuwait (X kg) and Kazakhstan (X kg) were the main destinations of machinery electrical parts exports from Russia, together comprising 78% of total exports. The UK, Poland, France and the United Arab Emirates lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +84.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for machinery electrical parts exported from Russia were Belarus ($X), Kuwait ($X) and the UK ($X), with a combined 82% share of total exports.

In terms of the main countries of destination, the UK, with a CAGR of +119.3%, 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

In 2022, the average machinery electrical parts export price amounted to $X per ton, growing by 78% against the previous year. Overall, the export price, however, saw a pronounced slump. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+18.1%), while the prices for the other major destinations experienced more modest paces of growth.

Machinery Electrical Parts Imports

Imports into the Russian Federation

In 2022, purchases abroad of electrical parts of machinery or apparatus decreased by -4.7% to X tons, falling for the second consecutive year after seven years of growth. Over the period under review, imports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2014 with an increase of 85% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, machinery electrical parts imports reduced to $X in 2022. Overall, imports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2014 when imports increased by 105%. Over the period under review, imports reached the peak figure at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest machinery electrical parts supplier to Russia, with a 57% share of total imports. Moreover, machinery electrical parts imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), threefold. South Korea (X tons) ranked third in terms of total imports with a 6% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +35.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+5.7% per year) and South Korea (+160.4% per year).

In value terms, China ($X) constituted the largest supplier of electrical parts of machinery or apparatus to Russia, comprising 44% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 9% share of total imports. It was followed by South Korea, with a 2.7% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +41.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+13.3% per year) and South Korea (+196.9% per year).

Import Prices by Country

The average machinery electrical parts import price stood at $X per ton in 2022, dropping by -8.4% against the previous year. Overall, the import price, however, continues to indicate strong growth. The most prominent rate of growth was recorded in 2021 an increase of 35%. As a result, import price attained the peak level of $X per ton, and then declined in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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