Russian Federation: Static Converter Market 2025

Static Converter Market Size in the Russian Federation

In 2021, the Russian static converter market increased by 23% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, the total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Static Converter Production in the Russian Federation

In value terms, static converter production expanded significantly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a abrupt decrease. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Static Converter Exports

Exports from the Russian Federation

Static converter exports from Russia surged to X units in 2021, picking up by 17% against 2020 figures. In general, exports, however, showed a perceptible decrease. The most prominent rate of growth was recorded in 2016 when exports increased by 97% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, static converter exports soared to $X in 2021. Over the period under review, exports showed a tangible expansion. The growth pace was the most rapid in 2016 with an increase of 99%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Belarus (X units) was the main destination for static converter exports from Russia, with a 49% share of total exports. Moreover, static converter exports to Belarus exceeded the volume sent to the second major destination, Ukraine (X units), twofold. Kazakhstan (X units) ranked third in terms of total exports with a 20% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Belarus totaled +24.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+26.3% per year) and Kazakhstan (+23.0% per year).

In value terms, Belarus ($X), Kazakhstan ($X) and India ($X) were the largest markets for static converter exported from Russia worldwide, together comprising 46% of total exports. Germany, Ukraine, Armenia, Poland and Slovakia lagged somewhat behind, together accounting for a further 18%.

Armenia, with a CAGR of +23.6%, 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 static converter export price stood at $X per unit in 2021, with an increase of 15% against the previous year. Overall, export price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, static converter export price increased by +105.6% against 2015 indices. The most prominent rate of growth was recorded in 2018 an increase of 67%. The export price peaked in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per unit), while the average price for exports to Ukraine ($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 Germany (+28.4%), while the prices for the other major destinations experienced mixed trend patterns.

Static Converter Imports

Imports into the Russian Federation

In 2021, after four years of decline, there was significant growth in overseas purchases of static converters, when their volume increased by 28% to X units. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 126% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, static converter imports soared to $X in 2021. In general, total imports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -13.2% against 2016 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 131% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of static converter to Russia, accounting for a 16% share of total imports. Moreover, static converter imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), sixfold. The third position in this ranking was held by South Korea (X units), with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+13.2% per year) and South Korea (-25.0% per year).

In value terms, China ($X) constituted the largest supplier of static converters to Russia, comprising 60% of total imports. The second position in the ranking was held by Germany ($X), with a 5.7% share of total imports. It was followed by the Philippines, with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.4% per year) and the Philippines (-11.6% per year).

Import Prices by Country

The average static converter import price stood at $X per unit in 2021, declining by -3.9% against the previous year. Over the period under review, import price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, static converter import price increased by +108.2% against 2017 indices. The growth pace was the most rapid in 2020 when the average import price increased by 60% against the previous year. As a result, import price reached the peak level of $X per unit, and then dropped slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+24.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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