Slovakia: Market for Solar Cells and Light-Emitting Diodes 2025

Market Size for Solar Cells and Light-Emitting Diodes in Slovakia

The Slovak market for solar cells and light-emitting diodes amounted to $X in 2022, almost unchanged from the previous year. In general, consumption, however, recorded a relatively flat trend pattern. Solar cells and light-emitting diodes consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Solar Cells and Light-Emitting Diodes in Slovakia

In value terms, solar cells and light-emitting diodes production reached $X in 2022 estimated in export price. Over the period under review, the total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.4% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 83% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Exports of Solar Cells and Light-Emitting Diodes

Exports from Slovakia

In 2022, shipments abroad of solar cells and light-emitting diodes was finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. Overall, exports, however, saw a deep downturn. The pace of growth appeared the most rapid in 2018 when exports increased by 205% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, solar cells and light-emitting diodes exports contracted modestly to $X in 2022. In general, exports, however, continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2018 with an increase of 75% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Hungary (X units) was the main destination for solar cells and light-emitting diodes exports from Slovakia, accounting for a 50% share of total exports. Moreover, solar cells and light-emitting diodes exports to Hungary exceeded the volume sent to the second major destination, Ukraine (X units), threefold. The third position in this ranking was taken by the Czech Republic (X units), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Hungary was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+70.5% per year) and the Czech Republic (-1.1% per year).

In value terms, Hungary ($X), Germany ($X) and the United States ($X) were the largest markets for solar cells and light-emitting diodes exported from Slovakia worldwide, with a combined 48% share of total exports. Italy, Poland, the Czech Republic, Ukraine, Romania and Bulgaria lagged somewhat behind, together comprising a further 24%.

Ukraine, with a CAGR of +59.8%, saw 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 export price for solar cells and light-emitting diodes stood at $X per unit in 2022, which is down by -17.3% against the previous year. In general, the export price saw a noticeable reduction. The growth pace was the most rapid in 2019 when the average export price increased by 50% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Ukraine ($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 Bulgaria (+20.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Solar Cells and Light-Emitting Diodes

Imports into Slovakia

In 2022, the amount of solar cells and light-emitting diodes imported into Slovakia reduced to X units, shrinking by -5.7% against the previous year. Over the period under review, imports continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2018 with an increase of 227%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, solar cells and light-emitting diodes imports fell sharply to $X in 2022. Overall, imports recorded a perceptible decrease. The pace of growth was the most pronounced in 2015 when imports increased by 150%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the Czech Republic (X units) constituted the largest solar cells and light-emitting diodes supplier to Slovakia, accounting for a 46% share of total imports. Moreover, solar cells and light-emitting diodes imports from the Czech Republic exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. The third position in this ranking was held by the Netherlands (X units), with a 5.8% share.

From 2012 to 2022, the average annual growth rate of volume from the Czech Republic totaled -11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.1% per year) and the Netherlands (+4.3% per year).

In value terms, Germany ($X), the Czech Republic ($X) and Japan ($X) were the largest solar cells and light-emitting diodes suppliers to Slovakia, together comprising 71% of total imports. Hungary, the Netherlands, Poland, Austria and China lagged somewhat behind, together accounting for a further 17%.

Poland, with a CAGR of +30.4%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for solar cells and light-emitting diodes stood at $X per unit in 2022, which is down by -21.9% against the previous year. In general, the import price, however, enjoyed notable growth. The growth pace was the most rapid in 2016 an increase of 104%. Over the period under review, average import prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+2.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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