Report Update Apr 1, 2024

Cuba - Relays - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Relay Market 2024

Relay Market Size in Cuba

In 2021, the Cuban relay market decreased by -2.4% to $X, falling for the fourth year in a row after three years of growth. In general, consumption recorded a abrupt slump. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Relay Exports

Exports from Cuba

In 2021, overseas shipments of relays decreased by -30% to X kg, falling for the third year in a row after four years of growth. Overall, exports, however, saw mild growth. The most prominent rate of growth was recorded in 2018 with an increase of 98%. As a result, the exports reached the peak of X kg. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, relay exports dropped rapidly to $X in 2021. Over the period under review, exports, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2018 with an increase of 94% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Belgium (X kg) was the main destination for relay exports from Cuba, with a 98% share of total exports. It was followed by Venezuela (X kg), with a 1.8% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Belgium totaled +30.5%.

In value terms, Belgium ($X) emerged as the key foreign market for relay exports from Cuba, comprising 94% of total exports. The second position in the ranking was held by Venezuela ($X), with a 5.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Belgium totaled +42.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (-8.0% per year) and China (-88.3% per year).

Export Prices by Country

In 2021, the average relay export price amounted to $X per ton, picking up by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.6%. The pace of growth was the most pronounced in 2013 when the average export price increased by 17%. The export price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Venezuela ($X per ton), while the average price for exports to Belgium amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (+23.3%).

Relay Imports

Imports into Cuba

In 2021, overseas purchases of relays decreased by -1.7% to X tons, falling for the fourth year in a row after four years of growth. Overall, imports faced a abrupt slump. The pace of growth appeared the most rapid in 2015 when imports increased by 46% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, relay imports shrank to $X in 2021. In general, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 27%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest relay supplier to Cuba, with a 51% share of total imports. Moreover, relay imports from Spain exceeded the figures recorded by the second-largest supplier, Canada (X tons), twofold. Italy (X tons) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2021, the average annual growth rate of volume from Spain stood at -13.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-6.1% per year) and Italy (-30.8% per year).

In value terms, Spain ($X) constituted the largest supplier of relay to Cuba, comprising 47% of total imports. The second position in the ranking was taken by Canada ($X), with a 15% share of total imports. It was followed by Russia, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Spain totaled -15.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-10.1% per year) and Russia (-3.6% per year).

Import Prices by Country

The average relay import price stood at $X per ton in 2021, approximately mirroring the previous year. Overall, the import price, however, recorded a measured increase. The most prominent rate of growth was recorded in 2019 an increase of 56% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2020, and then contracted in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Russia ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+18.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for relays in the world?

The countries with the highest volumes of consumption in 2021 were China, the United States and Mexico, with a combined 43% share of global consumption. These countries were followed by Germany, Romania, Indonesia, Nigeria, Japan, Hungary, India, South Korea, Brazil and Italy, which together accounted for a further 28%.

What are the largest producers of relays in the world?

China constituted the country with the largest volume of relay production, accounting for 39% of total volume. Moreover, relay production in China exceeded the figures recorded by the second-largest producer, the United States, fivefold. Germany ranked third in terms of total production with a 5.5% share.

What are the leading suppliers of relays to Cuba?

In value terms, Spain constituted the largest supplier of relay to Cuba, comprising 47% of total imports. The second position in the ranking was held by Canada, with a 15% share of total imports. It was followed by Russia, with an 11% share.

What are the leading importers of relays from Cuba?

In value terms, Belgium emerged as the key foreign market for relay exports from Cuba, comprising 94% of total exports. The second position in the ranking was held by Venezuela $357), with a 5.1% share of total exports.

What is the average export price for relays in Cuba?

The average relay export price stood at $125,750 per ton in 2021, growing by 11% against the previous year.

What is the average import price for relays in Cuba?

The average relay import price stood at $67,732 per ton in 2021, leveling off at the previous year.

This report provides an in-depth analysis of the relay market in Cuba. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 27122433 - Relays for a voltage . .60 V and for a current . 2 A
Prodcom 27122435 - Relays for a voltage . .60 V and for a current > 2 A
Prodcom 27122450 - Relays and contactors for a voltage > .60 V but . 1 kV

Country coverage:

Cuba

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Cuba
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023