Electric Rotary Converter Market

The article provides a detailed overview of the electric rotary converter market, highlighting forecasts for consumption and value trends from 2022 to 2030. Key findings include the market's anticipated CAGR of +3.5% for consumption and +2.3% for value, reaching 2.4M units and $508M by 2030, respectively. The report also analyzes historical consumption patterns, production statistics, and export trends, showcasing key players and growth rates in countries such as the United States, Germany, and Vietnam.

Market Forecast

Driven by increasing demand for electric rotary converters worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +3.5% for the period from 2022 to 2030, which is projected to bring the market volume to 2.4M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.3% for the period from 2022 to 2030, which is projected to bring the market value to $508M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Electric Rotary Converters

In 2022, consumption of electric rotary converters was finally on the rise to reach 1.8M units for the first time since 2019, thus ending a two-year declining trend. Overall, consumption showed a relatively flat trend pattern. Global consumption peaked at 1.9M units in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

The global electric rotary converter market value rose significantly to $425M in 2022, surging by 9.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a noticeable decrease. Over the period under review, the global market attained the peak level at $575M in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Consumption By Country

The country with the largest volume of electric rotary converter consumption was the United States (668K units), comprising approx. 37% of total volume. Moreover, electric rotary converter consumption in the United States exceeded the figures recorded by the second-largest consumer, the Netherlands (284K units), twofold. Malaysia (249K units) ranked third in terms of total consumption with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in the United States stood at +14.5%. In the other countries, the average annual rates were as follows: the Netherlands (+8.5% per year) and Malaysia (+1.0% per year).

In value terms, Latvia ($79M) led the market, alone. The second position in the ranking was taken by the Netherlands ($31M). It was followed by the United States.

In Latvia, the electric rotary converter market expanded at an average annual rate of +1.1% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: the Netherlands (+8.2% per year) and the United States (+10.8% per year).

The countries with the highest levels of electric rotary converter per capita consumption in 2022 were Latvia (21 units per 1000 persons), the Netherlands (16 units per 1000 persons) and Hong Kong SAR (14 units per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +19.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Electric Rotary Converters

In 2022, global electric rotary converter production rose remarkably to 868K units, with an increase of 6.5% on 2021. In general, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 14%. Global production peaked at 908K units in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In value terms, electric rotary converter production totaled $368M in 2022 estimated in export price. Overall, production, however, saw a slight curtailment. The most prominent rate of growth was recorded in 2018 when the production volume increased by 4.4% against the previous year. Over the period under review, global production hit record highs at $412M in 2012; however, from 2013 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were Malaysia (256K units), Germany (145K units) and Hong Kong SAR (121K units), with a combined 60% share of global production. Vietnam, Latvia, Mexico, South Africa, Italy, Spain, Switzerland, the Czech Republic and the Dominican Republic lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by South Africa (with a CAGR of +1.1%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Electric Rotary Converters

After two years of decline, supplies from abroad of electric rotary converters increased by 26% to 1.3M units in 2022. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 65% against the previous year. Global imports peaked at 1.4M units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, electric rotary converter imports fell to $168M in 2022. In general, imports, however, showed a noticeable decline. The pace of growth appeared the most rapid in 2014 with an increase of 18% against the previous year. Global imports peaked at $267M in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports By Country

The United States was the major importer of electric rotary converters in the world, with the volume of imports finishing at 672K units, which was approx. 50% of total imports in 2022. The Netherlands (293K units) took a 22% share (based on physical terms) of total imports, which put it in second place, followed by Nigeria (6.3%). The following importers - Mexico (32K units), Canada (30K units) and the UK (21K units) - each finished at a 6.2% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to electric rotary converter imports into the United States stood at +14.3%. At the same time, Nigeria (+22.9%) and the Netherlands (+7.8%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in the world, with a CAGR of +22.9% from 2012-2022. Canada experienced a relatively flat trend pattern. By contrast, the UK (-11.5%) and Mexico (-18.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United States, the Netherlands and Nigeria increased by +36, +11 and +5.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($27M), the United States ($18M) and the UK ($4.9M) constituted the countries with the highest levels of imports in 2022, together comprising 30% of global imports. Nigeria, Canada and Mexico lagged somewhat behind, together comprising a further 5.4%.

Nigeria, with a CAGR of +14.8%, 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 2022, the average electric rotary converter import price amounted to $125 per unit, shrinking by -24.8% against the previous year. Over the period under review, the import price showed a abrupt setback. The growth pace was the most rapid in 2021 when the average import price increased by 18%. Global import price peaked at $218 per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the UK ($228 per unit), while the United States ($26 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+16.6%), while the other global leaders experienced mixed trends in the import price figures.

Exports

World Exports of Electric Rotary Converters

For the third year in a row, the global market recorded growth in shipments abroad of electric rotary converters, which increased by 20% to 400K units in 2022. Over the period under review, exports, however, continue to indicate a slight decline. The pace of growth appeared the most rapid in 2020 when exports increased by 36% against the previous year. Over the period under review, the global exports attained the peak figure at 467K units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, electric rotary converter exports rose notably to $138M in 2022. Overall, exports, however, recorded a deep contraction. The growth pace was the most rapid in 2017 with an increase of 25%. The global exports peaked at $247M in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

In 2022, Germany (139K units) was the main exporter of electric rotary converters, making up 35% of total exports. It was distantly followed by Vietnam (49K units), Hong Kong SAR (31K units), Mexico (22K units), Spain (19K units) and Sweden (18K units), together constituting a 35% share of total exports. The Netherlands (17K units), Denmark (14K units), Malaysia (9.3K units), Italy (8.1K units), Belgium (6.9K units), Canada (6.7K units) and Poland (6.3K units) followed a long way behind the leaders.

Exports from Germany decreased at an average annual rate of -4.5% from 2012 to 2022. At the same time, Vietnam (+55.4%), Sweden (+16.4%), Hong Kong SAR (+11.7%), Denmark (+10.9%), Canada (+10.3%), Italy (+9.2%), Belgium (+8.1%) and Mexico (+5.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +55.4% from 2012-2022. Malaysia experienced a relatively flat trend pattern. By contrast, the Netherlands (-1.7%), Spain (-3.5%) and Poland (-15.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam, Hong Kong SAR, Sweden, Mexico and Denmark increased by +12, +5.5, +3.7, +2.8 and +2.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($68M) remains the largest electric rotary converter supplier worldwide, comprising 49% of global exports. The second position in the ranking was taken by Sweden ($5.8M), with a 4.2% share of global exports. It was followed by Spain, with a 3.7% share.

In Germany, electric rotary converter exports decreased by an average annual rate of -4.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Sweden (-2.0% per year) and Spain (-12.5% per year).

Export Prices By Country

In 2022, the average electric rotary converter export price amounted to $344 per unit, which is down by -5.4% against the previous year. Over the period under review, the export price saw a noticeable curtailment. The pace of growth was the most pronounced in 2017 when the average export price increased by 32%. Over the period under review, the average export prices reached the maximum at $823 per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Poland ($501 per unit), while Hong Kong SAR ($8.2 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+25.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform