Cyprus: Accumulator Market 2020

Accumulator Market Size in Cyprus

The revenue of the accumulator market in Cyprus amounted to $X in 2018, dropping by -X% 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, accumulator consumption continues to indicate an abrupt drop. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the accumulator market attained its maximum level at $X in 2008; however, from 2009 to 2018, consumption remained at a lower figure.

Accumulator Exports

Exports from Cyprus

In 2018, the exports of electric accumulators from Cyprus stood at X tons, growing by X% against the previous year. In general, accumulator exports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2010 when exports increased by X% y-o-y. Cyprus exports peaked in 2018 and are expected to retain its growth in the near future.

In value terms, accumulator exports stood at $X in 2018. Over the period under review, accumulator exports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2018 with an increase of X% year-to-year. In that year, accumulator exports reached their peak and are likely to continue its growth in the immediate term.

Exports by Country

In 2018, China (X tons) was the main exporter of electric accumulators, generating X% of total exports. It was distantly followed by Vietnam (X tons), comprising an X% share of total exports. The following exporters - Japan (X tons), Germany (X tons) and South Korea (X tons) - each reached a X% share of total exports.

From 2007 to 2018, average annual rates of growth with regard to accumulator exports from China stood at -X%. At the same time, Vietnam (+X%) and Germany (+X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. By contrast, South Korea (-X%) and Japan (-X%) illustrated a downward trend over the same period. While the share of Vietnam (+X p.p.) increased significantly in terms of the global exports from 2007-2018, the share of South Korea (-X p.p.), China (-X p.p.) and Japan (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest accumulator supplier from Cyprus, comprising X% of global exports. The second position in the ranking was occupied by South Korea ($X), with a X% share of global exports. It was followed by Germany, with a X% share.

In China, accumulator exports increased at an average annual rate of +X% over the period from 2007-2018. In the other countries, the average annual rates were as follows: South Korea (+X% per year) and Germany (+X% per year).

Export Prices by Country

In 2018, the accumulator export price in Cyprus amounted to $X per kg, going up by X% against the previous year. In general, the accumulator export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 when the export price increased by X% against the previous year. Cyprus export price peaked at $X per kg in 2012; however, from 2013 to 2018, export prices failed to regain their momentum.

Prices varied noticeably by the country of origin; the country with the highest price was South Korea ($X per kg), while Vietnam ($X per kg) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by South Korea, while the other leaders experienced more modest paces of growth.

Accumulator Imports

Imports into Cyprus

In 2018, approx. X tons of electric accumulators were imported into Cyprus; coming down by -X% against the previous year. In general, accumulator imports continue to indicate a drastic decrease. The most prominent rate of growth was recorded in 2013 when imports increased by X% year-to-year. Cyprus imports peaked at X tons in 2007; however, from 2008 to 2018, imports remained at a lower figure.

In value terms, accumulator imports amounted to $X in 2018. Overall, accumulator imports continue to indicate a temperate contraction. The pace of growth was the most pronounced in 2016 when imports increased by X% year-to-year. Cyprus imports peaked at $X in 2008; however, from 2009 to 2018, imports stood at a somewhat lower figure.

Imports by Country

China prevails in accumulator imports structure, accounting for X tons, which was near X% of total imports in 2018. The following importers - India (X tons) and the U.S. (X tons) - each amounted to a X% share of total imports.

Imports into China increased at an average annual rate of +X% from 2007 to 2018. At the same time, India (+X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. By contrast, the U.S. (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of China increased by +X% percentage points, while the U.S. (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), the U.S. ($X) and India ($X) were the countries with the highest levels of imports in 2018, with a combined X% share of total imports.

Among the main importing countries, China experienced the highest growth rate of imports, over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The accumulator import price in Cyprus stood at $X per kg in 2018, lowering by -X% against the previous year. Overall, the import price indicated a prominent increase from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, accumulator import price increased by +X% against 2013 indices. The pace of growth appeared the most rapid in 2008 when the import price increased by X% against the previous year. Cyprus import price peaked at $X per kg in 2017, and then declined slightly in the following year.

Prices varied noticeably by the country of destination; the country with the highest price was the U.S. ($X per kg), while China ($X per kg) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the U.S., while the other leaders experienced a decline in the import price figures.

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Source: IndexBox Platform