Slovakia: Market for Solar Cells and Light-Emitting Diodes 2024

Market Size for Solar Cells and Light-Emitting Diodes in Slovakia

The Slovak market for solar cells and light-emitting diodes amounted to $X in 2022, approximately mirroring the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Solar Cells and Light-Emitting Diodes in Slovakia

In value terms, solar cells and light-emitting diodes production reached $X in 2022 estimated in export price. Over the period under review, the total production indicated a perceptible increase from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Exports of Solar Cells and Light-Emitting Diodes

Exports from Slovakia

In 2022, overseas shipments of solar cells and light-emitting diodes were finally on the rise to reach X units after three years of decline. Over the period under review, exports, however, continue to indicate a deep slump. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, solar cells and light-emitting diodes exports contracted modestly to $X in 2022. Overall, exports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2018 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Hungary (X units) was the main destination for solar cells and light-emitting diodes exports from Slovakia, accounting for a X% share of total exports. Moreover, solar cells and light-emitting diodes exports to Hungary exceeded the volume sent to the second major destination, Ukraine (X units), threefold. The Czech Republic (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 Hungary was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (X% per year) and the Czech Republic (X% per year).

In value terms, Hungary ($X), Germany ($X) and the United States ($X) were the largest markets for solar cells and light-emitting diodes exported from Slovakia worldwide, with a combined X% share of total exports. Italy, Poland, the Czech Republic, Ukraine, Romania and Bulgaria lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Ukraine, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for solar cells and light-emitting diodes amounted to $X per unit, declining by X% against the previous year. In general, the export price showed a perceptible slump. The pace of growth appeared the most rapid in 2019 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Ukraine ($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 Bulgaria (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Solar Cells and Light-Emitting Diodes

Imports into Slovakia

Solar cells and light-emitting diodes imports into Slovakia dropped to X units in 2022, reducing by X% on 2021 figures. In general, imports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, solar cells and light-emitting diodes imports reduced remarkably to $X in 2022. Over the period under review, imports saw a pronounced descent. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the Czech Republic (X units) constituted the largest solar cells and light-emitting diodes supplier to Slovakia, with a X% share of total imports. Moreover, solar cells and light-emitting diodes imports from the Czech Republic exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. The third position in this ranking was held by the Netherlands (X units), with a X% share.

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

In value terms, the largest solar cells and light-emitting diodes suppliers to Slovakia were Germany ($X), the Czech Republic ($X) and Japan ($X), together accounting for X% of total imports. Hungary, the Netherlands, Poland, Austria and China lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Poland, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for solar cells and light-emitting diodes stood at $X per unit in 2022, declining by X% against the previous year. Overall, the import price, however, showed a temperate expansion. The pace of growth appeared the most rapid in 2016 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :