Sweden: Static Converter Market 2024

Static Converter Market Size in Sweden

The Swedish static converter market skyrocketed to $X in 2021, rising by 29% against the previous year. Over the period under review, the total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +4.7% against 2017 indices. Static converter consumption peaked in 2021 and is expected to retain growth in years to come.

Static Converter Production in Sweden

In value terms, static converter production dropped modestly to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by 139% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Static Converter Exports

Exports from Sweden

Static converter exports from Sweden expanded notably to X units in 2021, surging by 9.4% on the previous year's figure. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 447%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, static converter exports declined to $X in 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 25% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units) was the main destination for static converter exports from Sweden, with a 16% share of total exports. Moreover, static converter exports to Germany exceeded the volume sent to the second major destination, Denmark (X units), twofold. Norway (X units) ranked third in terms of total exports with a 6.1% share.

From 2012 to 2021, the average annual growth rate of volume to Germany totaled +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+14.2% per year) and Norway (+5.0% per year).

In value terms, the largest markets for static converter exported from Sweden were Germany ($X), Norway ($X) and the United States ($X), together accounting for 30% of total exports. These countries were followed by Denmark, the UK, China, Italy, Finland, the Netherlands, Greece, Poland, Angola and France, which together accounted for a further 39%.

Among the main countries of destination, Greece, with a CAGR of +77.2%, 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 static converter export price amounted to $X per unit, shrinking by -14.5% against the previous year. Overall, the export price showed a precipitous descent. The pace of growth appeared the most rapid in 2017 when the average export price increased by 26% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to Germany ($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 United States (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Static Converter Imports

Imports into Sweden

In 2021, overseas purchases of static converters increased by 16% to X units, rising for the fourth year in a row after two years of decline. Overall, imports posted significant growth. The pace of growth appeared the most rapid in 2018 with an increase of 371%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, static converter imports surged to $X in 2021. In general, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +9.4% 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 +95.2% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Germany (X units) and the Netherlands (X units) were the main suppliers of static converter imports to Sweden, with a combined 41% share of total imports. These countries were followed by Hungary, Finland, Denmark, France, the UK, Norway, Hong Kong SAR and the United States, which together accounted for a further 11%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hungary (with a CAGR of +40.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and the Netherlands ($X) were the largest static converter suppliers to Sweden, together comprising 61% of total imports. Finland, Norway, Hungary, Denmark, France, the UK, the United States and Hong Kong SAR lagged somewhat behind, together accounting for a further 22%.

Hungary, with a CAGR of +34.6%, recorded the highest rates of growth with regard to the value of imports, among 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 static converter import price stood at $X per unit in 2021, rising by 12% against the previous year. Overall, the import price, however, continues to indicate a abrupt slump. The growth pace was the most rapid in 2016 an increase of 29%. The import price peaked at $X per unit in 2017; however, from 2018 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 Norway ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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