Global Static Converter Market 2024

Static Converter Market Size

In 2021, the global static converter market was finally on the rise to reach $X after two years of decline. Over the period under review, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked in 2021 and is expected to retain growth in years to come.

Static Converter Production

In value terms, static converter production declined slightly to $X in 2021 estimated in export price. Overall, production saw a deep downturn. The most prominent rate of growth was recorded in 2015 with an increase of 120% against the previous year. Global production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Static Converter Exports

Exports

In 2021, global exports of static converters skyrocketed to X units, increasing by 20% against the previous year's figure. Overall, total exports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +92.3% against 2016 indices. The pace of growth appeared the most rapid in 2018 when exports increased by 41%. Over the period under review, the global exports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

In value terms, static converter exports soared to $X in 2021. In general, total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +64.9% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the key exporting country with an export of around X units, which reached 47% of total exports. Hong Kong SAR (X units) ranks second in terms of the total exports with an 11% share, followed by the Netherlands (9.4%) and Germany (5.8%). Italy (X units), Spain (X units), Japan (X units), Singapore (X units) and Taiwan (Chinese) (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +5.7% from 2012 to 2021. At the same time, the Netherlands (+59.6%), Italy (+51.0%), Spain (+28.6%), Taiwan (Chinese) (+6.0%), Japan (+5.3%), Germany (+3.1%) and Singapore (+1.8%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +59.6% from 2012-2021. Hong Kong SAR experienced a relatively flat trend pattern. While the share of the Netherlands (+9.2 p.p.), Italy (+3.3 p.p.), Spain (+2.2 p.p.) and China (+1.7 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of Hong Kong SAR (-7.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest static converter supplier worldwide, comprising 34% of global exports. The second position in the ranking was taken by Germany ($X), with an 11% share of global exports. It was followed by Hong Kong SAR, with a 6.6% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to +6.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+6.7% per year) and Hong Kong SAR (+0.2% per year).

Export Prices by Country

The average static converter export price stood at $X per unit in 2021, increasing by 5% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 27% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Japan ($X per unit), while Spain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.5%), while the other global leaders experienced more modest paces of growth.

Static Converter Imports

Imports

In 2021, the amount of static converters imported worldwide skyrocketed to X units, growing by 15% against 2020. In general, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +7.8% 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 increased by +97.4% against 2012 indices. The pace of growth appeared the most rapid in 2020 with an increase of 17%. Global imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, static converter imports surged to $X in 2021. Over the period under review, total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.8% 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 increased by +60.7% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands (X units) and Hong Kong SAR (X units) represented roughly 28% of total imports in 2021. Germany (X units) took a 6.5% share (based on physical terms) of total imports, which put it in second place, followed by China (5.5%). The following importers - India (X units), the United States (X units), Vietnam (X units), Japan (X units), Nigeria (X units), Italy (X units), Hungary (X units), France (X units) and the UK (X units) - together made up 26% of total imports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +57.5%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest static converter importing markets worldwide were the United States ($X), Germany ($X) and China ($X), with a combined 32% share of global imports. Hong Kong SAR, the Netherlands, Japan, France, Italy, the UK, India, Vietnam, Hungary and Nigeria lagged somewhat behind, together accounting for a further 27%.

Vietnam, with a CAGR of +14.9%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average static converter import price amounted to $X per unit, increasing by 8.2% against the previous year. In general, the import price, however, showed a mild decrease. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the United States ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+2.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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