Spain: Electric Rotary Converter Market 2024

Electric Rotary Converter Market Size in Spain

In 2021, the Spanish electric rotary converter market increased by 305% to $X, rising for the second consecutive year after six years of decline. In general, consumption posted resilient growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Electric Rotary Converter Production in Spain

In value terms, electric rotary converter production soared to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a pronounced reduction. The pace of growth appeared the most rapid in 2019 with an increase of 59%. Electric rotary converter production peaked at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

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Electric Rotary Converter Exports

Exports from Spain

In 2021, overseas shipments of electric rotary converters decreased by -20.2% to X units, falling for the second year in a row after two years of growth. Overall, exports showed a deep reduction. The pace of growth appeared the most rapid in 2016 with an increase of 297%. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, electric rotary converter exports shrank to $X in 2021. Over the period under review, exports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2017 with an increase of 43% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

France (X units) was the main destination for electric rotary converter exports from Spain, with a 33% share of total exports. Moreover, electric rotary converter exports to France exceeded the volume sent to the second major destination, Chile (X units), threefold. Singapore (X units) ranked third in terms of total exports with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to France amounted to +28.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+41.6% per year) and Singapore (+58.5% per year).

In value terms, France ($X), Germany ($X) and Chile ($X) were the largest markets for electric rotary converter exported from Spain worldwide, together comprising 47% of total exports. Canada, Singapore, Brazil, Morocco, Nigeria, Mexico, South Africa, Burkina Faso, Tanzania and Sweden lagged somewhat behind, together comprising a further 26%.

Nigeria, with a CAGR of +73.7%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average electric rotary converter export price stood at $X per unit in 2021, surging by 15% against the previous year. Over the period under review, the export price, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2017 when the average export price increased by 597%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Mexico ($X per unit), while the average price for exports to Sweden ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Tanzania (+44.0%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Rotary Converter Imports

Imports into Spain

Electric rotary converter imports into Spain surged to X units in 2021, rising by 18% against 2020. Overall, imports, however, faced a deep downturn. The pace of growth was the most pronounced in 2018 with an increase of 65% against the previous year. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, electric rotary converter imports shrank modestly to $X in 2021. In general, imports enjoyed a notable expansion. The most prominent rate of growth was recorded in 2014 with an increase of 57% against the previous year. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest electric rotary converter supplier to Spain, with a 45% share of total imports. Moreover, electric rotary converter imports from China exceeded the figures recorded by the second-largest supplier, France (X units), twofold. Italy (X units) ranked third in terms of total imports with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +32.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+33.2% per year) and Italy (-31.2% per year).

In value terms, the largest electric rotary converter suppliers to Spain were the United States ($X), France ($X) and China ($X), with a combined 66% share of total imports.

Among the main suppliers, China, with a CAGR of +45.3%, recorded the highest rates of growth with regard to 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 electric rotary converter import price stood at $X per unit in 2021, declining by -16.6% against the previous year. Overall, the import price, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2020 when the average import price increased by 472%. As a result, import price reached the peak level of $X per unit, and then contracted rapidly 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 the United States ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+55.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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