Electricity meters market in Russia

Earlier Report Observations

From 2018 to 2019, the electricity meter market in Russia showed moderate growth, reaching 9 604 thousand units, supported by stabilized production capacities and a focus on domestic demand, particularly in the B2G segment. However, in 2020, the market volume contracted sharply to 7 510 thousand units, a development coinciding with the exit of Western brands from the market, which introduced disruptions in supply chains and affected availability.

The market rebounded to 9 294 thousand units in 2021, driven by increased electricity consumption from new industrial facilities like the Tayshet aluminum plant and growing demand from the military-industrial complex. Sanctions and a shortage of components led to a 19-28% drop in domestic production in 2022, reducing the market to 8 348 thousand units. By 2023, production stabilized, and the active rollout of smart meters, alongside the opening of new manufacturing plants in Cherepovets and the Moscow region, helped the market recover to a peak of 10 285 thousand units.

In 2024, the market experienced a slight correction to 10 070 thousand units, while preliminary data for 2025 indicates a significant reduction in production volume to 7 165 thousand units, suggesting a potential contraction in the overall market size.

Production electricity meters in Russia

In kind, 2018-2021, K unit

After two consecutive years of decline, electricity meter production in Russia rebounded. In 2021, Russia produced 8,715 thousand units of electricity meters, marking a significant increase of 17.6% compared to 2020. The lowest production level was recorded in 2020 at 7,408 thousand units, which also saw the largest annual decline of 15.0%. Over the period from 2018 to 2021, overall production decreased by 3.9%, translating to an average annual decline of 1.3%.

Annual dynamics of production in Russia in kind, 2018-2021, K unit

Exports electricity meters from Russia

Exports in kind, K unit

The export market for electricity meters from Russia experienced notable fluctuations during this period. The lowest export volume was recorded in 2019 at 148 thousand units, while the highest occurred in 2020 at 668 thousand units, representing a peak-to-trough ratio of 4.5 times. In 2021, Russia exported 561 thousand units of electricity meters, which was 16.1% lower than the previous year. The largest decline was observed in 2019 at 77.8%, while the largest increase was recorded in 2020 at 351.7%.

Annual dynamics of product's exports from Russia in kind, 2018-2021, K unit

From 2018 to 2021, Kazakhstan, Belarus, and Kyrgyzstan remained the leading destinations for Russia's electricity meter exports in kind. Kazakhstan accounted for 50.6% of exports, Belarus for 11.1%, and Kyrgyzstan for 10.4%. Together, these three countries represented 72.1% of total export flows.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Russia in kind, 2018-2021

Exports in value, K $ US

Electricity meter exports from Russia increased for the second consecutive year. In 2021, export value totaled 16,120 thousand US dollars, showing a substantial rise of 38.2% compared to the previous year. The lowest value was recorded in 2019 at 11,182 thousand US dollars, which also saw the largest annual decline of 10.0%. Over the 2018-2021 period, exports grew by 29.8%, with an average annual growth rate of 9.1%.

Annual dynamics of product's exports from Russia in value, 2018-2021, K $ US

Throughout 2018-2021, Kazakhstan, Belarus, and Georgia formed the key group of partners for Russia's electricity meter exports in value terms. Kazakhstan accounted for 57.8% of exports, Belarus for 8.7%, and Georgia for 7.8%. Collectively, these three countries represented 74.3% of total export flows.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Russia in value, 2018-2021

Imports electricity meters to Russia

Imports in kind, K unit

After a two-year decline, Russia's electricity meter imports increased. In 2021, imports reached 1,043 thousand units, reflecting a sharp rise of 36.6% compared to 2020. The lowest import volume was recorded in 2020 at 763 thousand units, while the largest annual decline occurred in 2019 at 19.9%. Over the 2018-2021 period, imports decreased by 3.0%, with an average annual decline of 1.0%.

Annual dynamics of product's imports to Russia in kind, 2018-2021, K unit

From 2018 to 2021, China played the dominant role in Russia's electricity meter imports in kind, accounting for 75.0% of total flows. All other markets combined represented the remaining 25.0%.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Russia in kind, 2018-2021

Imports in value, K $ US

Russia imported 42,554 thousand US dollars worth of electricity meters in 2021, representing a steep increase of 38.4% compared to the previous year. The lowest import value was recorded in 2020 at 30,739 thousand US dollars, which also saw the largest annual decline of 43.9%. The highest value occurred in 2019 at 54,758 thousand US dollars, which recorded the largest annual increase of 61.1%. Over the 2018-2021 period, imports grew by 25.2%, with an average annual growth rate of 7.8%.

Annual dynamics of product's imports to Russia in value, 2018-2021, K $ US

During 2018-2021, China, Slovenia, and Armenia were the main sources for Russia's electricity meter imports in value terms. China accounted for 60.2% of imports, Slovenia for 16.6%, and Armenia for 13.0%. Together, these three countries represented 89.8% of total import flows.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Russia in value, 2018-2021