Russian Federation: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in the Russian Federation

In 2021, the Russian market for instruments for measuring electrical quantities increased by 0.8% to $X, rising for the second consecutive year after four years of decline. Overall, consumption recorded a abrupt setback. Instruments for measuring electrical quantities consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Instruments for Measuring Electrical Quantities in the Russian Federation

In value terms, instruments for measuring electrical quantities production contracted markedly to $X in 2021 estimated in export price. Over the period under review, production recorded a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of 63% against the previous year. Instruments for measuring electrical quantities production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Instruments for Measuring Electrical Quantities

Exports from the Russian Federation

Instruments for measuring electrical quantities exports from Russia skyrocketed to X units in 2021, with an increase of 15% compared with the previous year's figure. Over the period under review, exports recorded strong growth. The growth pace was the most rapid in 2017 when exports increased by 145% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, instruments for measuring electrical quantities exports contracted sharply to $X in 2021. In general, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 74% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Belarus (X units), Kazakhstan (X units) and Ukraine (X units) were the main destinations of instruments for measuring electrical quantities exports from Russia, with a combined 91% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Belarus (with a CAGR of +35.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for instruments for measuring electrical quantities exported from Russia were Belarus ($X), Kazakhstan ($X) and Uzbekistan ($X), together comprising 44% of total exports.

In terms of the main countries of destination, Belarus, with a CAGR of +17.2%, 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 2021, the average export price for instruments for measuring electrical quantities amounted to $X per unit, which is down by -27.1% against the previous year. In general, the export price recorded a drastic downturn. The most prominent rate of growth was recorded in 2016 when the average export price increased by 81% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Uzbekistan ($X per unit), while the average price for exports to Moldova ($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 Kazakhstan (+2.9%), while the prices for the other major destinations experienced a decline.

Imports of Instruments for Measuring Electrical Quantities

Imports into the Russian Federation

In 2021, after three years of decline, there was significant growth in purchases abroad of instruments for measuring electrical quantities, when their volume increased by 40% to X units. In general, total imports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 47% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, instruments for measuring electrical quantities imports surged to $X in 2021. The total import value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 23% against the previous year. Imports peaked in 2021 and are likely to see steady growth in years to come.

Imports by Country

Belarus (X units), China (X units) and South Korea (X units) were the main suppliers of instruments for measuring electrical quantities imports to Russia, together comprising 70% of total imports. These countries were followed by Armenia, Germany, Taiwan (Chinese) and Bulgaria, which together accounted for a further 18%.

From 2012 to 2021, the biggest increases were recorded for Bulgaria (with a CAGR of +97.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of instruments for measuring electrical quantities to Russia, comprising 38% of total imports. The second position in the ranking was held by Germany ($X), with an 8.7% share of total imports. It was followed by Belarus, with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +32.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+21.3% per year) and Belarus (-20.4% per year).

Import Prices by Country

The average import price for instruments for measuring electrical quantities stood at $X per unit in 2021, waning by -13% against the previous year. Over the period under review, the import price saw a pronounced downturn. The growth pace was the most rapid in 2018 when the average import price increased by 33%. Over the period under review, average import prices reached the maximum at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per unit), while the price for Armenia ($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) (+15.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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