Serbia: Static Converter Market 2024

Static Converter Market Size in Serbia

In 2022, the Serbian static converter market increased by X% to $X, rising for the fifth consecutive year after two years of decline. Overall, consumption posted a significant expansion. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the near future.

Static Converter Production in Serbia

In value terms, static converter production skyrocketed to $X in 2022 estimated in export price. Overall, production saw a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, production reached the maximum level in 2022 and is likely to see steady growth in the near future.

Static Converter Exports

Exports from Serbia

In 2022, overseas shipments of static converters were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, exports posted buoyant growth. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, static converter exports soared to $X in 2022. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the near future.

Exports by Country

Austria (X units) was the main destination for static converter exports from Serbia, with a X% share of total exports. Moreover, static converter exports to Austria exceeded the volume sent to the second major destination, Russia (X units), threefold. Germany (X units) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Austria totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and Germany (X% per year).

In value terms, Austria ($X) remains the key foreign market for static converters exports from Serbia, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports. It was followed by Russia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Austria amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Russia (X% per year).

Export Prices by Country

The average static converter export price stood at $X per unit in 2022, rising by X% against the previous year. In general, the export price recorded a resilient expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Russia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Static Converter Imports

Imports into Serbia

In 2022, approx. X units of static converters were imported into Serbia; jumping by X% on 2021 figures. Overall, imports posted a strong expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, static converter imports soared to $X in 2022. Over the period under review, imports saw a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of static converter to Serbia, with a X% share of total imports. Moreover, static converter imports from China exceeded the figures recorded by the second-largest supplier, Denmark (X units), twofold. The Czech Republic (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (X% per year) and the Czech Republic (X% per year).

In value terms, the largest static converter suppliers to Serbia were the Czech Republic ($X), China ($X) and Denmark ($X), together comprising X% of total imports.

The Czech Republic, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average static converter import price stood at $X per unit in 2022, rising by X% against the previous year. In general, import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, static converter import price increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :