Electrical Equipment (Russian Market)

2024

The first Russian printer for marking electrical equipment was presented

Engineers of the National Research Technological University "MISIS" in partnership with the design bureau Karfidov Lab have developed the first completely domestic thermal transfer printer for marking cables, wires and electrical components. This became known in early December 2024. Read more here.

In Voronezh, a plant for the production of electrical switchboard equipment was launched for ₽460 million

On October 31, 2024, the Intelka Group of Companies opened a new production and warehouse complex for the production of electrical switchboard equipment in Voronezh on Ostuzhev Street. The volume of investments in the project amounted to ₽460 million. Read more here.

2023: Increase in imports of sockets and switches to Russia by 28% to 188.7 million units

In 2023, about 188.7 million sockets and switches were imported to Russia, which is 28% more compared to 2022. Such a sharp increase in foreign supplies is due to the lack of domestic products against the background of growing demand. The market situation is described in BusinesStat materials published on July 11, 2024.

It is said that in 2019, 155.8 million sockets and switches of foreign manufacturers were imported into the Russian Federation. In 2020, an increase of 5.8% was recorded - to 164.8 million units, and in 2021 imports increased by 7.8% with a final figure of 177.7 million units.

The steady positive dynamics was replaced by a decline in 2022: against the background of a worsening geopolitical situation, the import of foreign products into Russia decreased by 17.3%, reaching 147 million units. The fall in imports is explained by the difficulties of conducting foreign trade operations due to sanctions and the refusal of suppliers to work with Russian counterparties. Moreover, the largest decline was in imports from China. The fact is that the production sites of many Western companies that refused to work with Russian customers are located in the PRC. In addition, supplies from Germany fell significantly, while shipments from Spain and Portugal stopped almost completely. But already in 2023, the supply of sockets and switches from China resumed in full.

According to BusinesStat estimates, the import of sockets and switches to Russia for 2021-2023. increased by 6% and reached 189 million units, - the authors of the report note.

Among the significant players in the market under consideration are named JSC Dielectric Cable Systems, LLC Electroresheniya, LLC Legran, LLC Potential and LLC Simon Electric, Smolensky Electrotechnical Plant, TD Himmashtrade M, etc.^[1]

2022: Sales of sockets and switches in Russia decreased by 9% to 219 million units

Sales of sockets and switches in Russia in 2022 decreased by 9% compared to a year ago - up to 219 million units. Market size fell after at least four consecutive years of growth. Such data are provided in a study by BusinesStat, published in May 2023.

According to experts, in 2022, despite the record volume of housing commissioning, crisis changes in the country's economy and the tense foreign policy situation negatively affected the sales of most types of durable goods, including sockets and switches. Due to general uncertainty, many consumers have delayed repair work, including replacing electrical equipment, for a more favorable time. In addition, an increase in mortgage rates negatively affected the sale of sockets and switches, which led to a decrease in demand for housing in mortgages.

Sales of sockets and switches in Russia decreased after 4 years of growth

Analysts conditionally divide the sales of sockets and switches in Russia for renewal in existing real estate and installation in new construction projects. The electrical equipment is updated as it fails, or during repairs. The bulk of electrical sockets and switches are operated in the housing stock.

According to researchers, the reduction in the mortgage lending market, as well as the general wait-and-see position of consumers, will lead to a further decrease in sales of sockets and switches in Russia in 2023. Nevertheless, sales will be maintained at a high level due to the need to replace failed electrical equipment, stable financing of state-built facilities, as well as commissioning apartments pledged during the 2020-2021 mortgage boom^[2]

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