Slovakia: Static Converter Market 2024

Static Converter Market Size in Slovakia

In 2021, the Slovak static converter market decreased by -13.9% to $X, falling for the second consecutive year after three years of growth. In general, the total consumption indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -19.8% against 2019 indices. Static converter consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Static Converter Production in Slovakia

In value terms, static converter production dropped significantly to $X in 2021 estimated in export price. In general, the total production indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +65.2% against 2016 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 38%. Static converter production peaked at $X in 2020, and then contracted rapidly in the following year.

Static Converter Exports

Exports from Slovakia

In 2021, overseas shipments of static converters increased by 104% to X units, rising for the seventh year in a row after two years of decline. In general, exports showed strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, static converter exports skyrocketed to $X in 2021. Overall, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 40%. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the near future.

Exports by Country

Germany (X units), France (X units) and Austria (X units) were the main destinations of static converter exports from Slovakia, with a combined 31% share of total exports. Italy, Poland, the United States, Romania, the Netherlands, the Czech Republic, the UK, China and Hungary lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +47.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and Italy ($X) appeared to be the largest markets for static converter exported from Slovakia worldwide, with a combined 47% share of total exports. These countries were followed by the United States, the Netherlands, the UK, Austria, the Czech Republic, Poland, China, Romania and Hungary, which together accounted for a further 25%.

China, with a CAGR of +35.3%, saw the highest rates of growth with regard to 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

In 2021, the average static converter export price amounted to $X per unit, with a decrease of -42.3% against the previous year. Over the period under review, the export price recorded a drastic downturn. The pace of growth was the most pronounced in 2014 an increase of 46%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the UK ($X per unit), while the average price for exports to Romania ($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 Poland (+0.5%), while the prices for the other major destinations experienced mixed trend patterns.

Static Converter Imports

Imports into Slovakia

Static converter imports into Slovakia reached X units in 2021, increasing by 4.1% on the previous year. Overall, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -2.9% against 2019 indices. The pace of growth appeared the most rapid in 2015 when imports increased by 139%. Imports peaked at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, static converter imports soared to $X in 2021. Over the period under review, total imports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +78.7% against 2016 indices. The most prominent rate of growth was recorded in 2019 with an increase of 21% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of static converter to Slovakia, accounting for a 41% share of total imports. Moreover, static converter imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), fourfold. The third position in this ranking was held by Germany (X units), with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+13.4% per year) and Germany (+16.6% per year).

In value terms, China ($X), South Korea ($X) and Germany ($X) constituted the largest static converter suppliers to Slovakia, together comprising 57% of total imports. These countries were followed by Ireland, Austria, Vietnam, Hungary, the Netherlands, the Czech Republic, Thailand, Poland and Indonesia, which together accounted for a further 35%.

Ireland, with a CAGR of +85.4%, recorded 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

In 2021, the average static converter import price amounted to $X per unit, rising by 15% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 107% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Austria ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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