Russian Federation: Market for Solar Cells and Light-Emitting Diodes 2024

Market Size for Solar Cells and Light-Emitting Diodes in the Russian Federation

The Russian market for solar cells and light-emitting diodes expanded remarkably to $X in 2022, surging by 5.7% against the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Solar Cells and Light-Emitting Diodes in the Russian Federation

In value terms, solar cells and light-emitting diodes production expanded modestly to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by 21% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Exports of Solar Cells and Light-Emitting Diodes

Exports from the Russian Federation

After two years of growth, shipments abroad of solar cells and light-emitting diodes decreased by -40.4% to X units in 2022. In general, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 418% against the previous year. As a result, the exports reached the peak of X units, and then fell dramatically in the following year.

In value terms, solar cells and light-emitting diodes exports rose markedly to $X in 2022. Overall, exports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2020 with an increase of 203% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Kazakhstan (X units) was the main destination for solar cells and light-emitting diodes exports from Russia, accounting for a 63% share of total exports. Moreover, solar cells and light-emitting diodes exports to Kazakhstan exceeded the volume sent to the second major destination, Belarus (X units), threefold. Poland (X units) ranked third in terms of total exports with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Kazakhstan totaled +80.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+46.2% per year) and Poland (+176.9% per year).

In value terms, Kazakhstan ($X) remains the key foreign market for solar cells and light-emitting diodes exports from Russia, comprising 33% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 16% share of total exports. It was followed by Belarus, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Kazakhstan stood at +45.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+900.3% per year) and Belarus (+10.5% per year).

Export Prices by Country

The average export price for solar cells and light-emitting diodes stood at $X per unit in 2021, declining by -82.8% against the previous year. Overall, the export price faced a dramatic decrease. The pace of growth appeared the most rapid in 2017 when the average export price increased by 118%. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($X per unit), while the average price for exports to Poland ($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 the Philippines (+8.4%), while the prices for the other major destinations experienced a decline.

Imports of Solar Cells and Light-Emitting Diodes

Imports into the Russian Federation

In 2022, overseas purchases of solar cells and light-emitting diodes increased by 10% to X units for the first time since 2019, thus ending a two-year declining trend. In general, imports showed a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of 132% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, solar cells and light-emitting diodes imports stood at $X in 2022. Overall, imports continue to indicate resilient growth. The pace of growth was the most pronounced in 2018 with an increase of 47%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) was the main solar cells and light-emitting diodes supplier to Russia, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China totaled +19.6%.

In value terms, China ($X) constituted the largest supplier of solar cells and light-emitting diodes to Russia.

From 2012 to 2022, the average annual growth rate of value from China stood at +20.7%.

Import Prices by Country

The average import price for solar cells and light-emitting diodes stood at $X per unit in 2022, with a decrease of -9.4% against the previous year. Overall, the import price continues to indicate a deep setback. The growth pace was the most rapid in 2015 when the average import price increased by 54% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +0.9% per year.

Source: IndexBox Platform

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