Global Instruments and Apparatus for Measuring or Checking the Flow or Level of Liquids Market to Grow at a CAGR of +3.2% from 2023 to 2030

IndexBox has just published a new report: World - Instruments And Apparatus For Measuring Or Checking The Flow Or Level Of Liquids - Market Analysis, Forecast, Size, Trends and Insights.

Driven by increasing demand worldwide, the market for liquid measurement instruments is projected to expand at a CAGR of +3.2% in volume and +4.9% in value from 2023 to 2030. By the end of 2030, the market is expected to reach 648M units in volume and $57.6B in value (nominal wholesale prices).

Market Forecast

Driven by increasing demand for instruments and apparatus for measuring or checking the flow or level of liquids worldwide, the market is expected to continue an upward consumption trend over the next seven years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.2% for the period from 2023 to 2030, which is projected to bring the market volume to 648M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.9% for the period from 2023 to 2030, which is projected to bring the market value to $57.6B (in nominal wholesale prices) by the end of 2030.

Consumption

World Consumption of Instruments And Apparatus For Measuring Or Checking The Flow Or Level Of Liquids

Global consumption of instruments and apparatus for measuring or checking the flow or level of liquids was estimated at 520M units in 2023, approximately equating the year before. In general, the total consumption indicated a noticeable increase from 2013 to 2023: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by -7.4% against 2021 indices. As a result, consumption reached the peak volume of 562M units. From 2022 to 2023, the growth of the global consumption of remained at a somewhat lower figure.

The size of the market for instruments and apparatus for measuring or checking the flow or level of liquids worldwide dropped modestly to $41.2B in 2023, with a decrease of -2.3% 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). Overall, the total consumption indicated a temperate increase from 2013 to 2023: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by -2.8% against 2021 indices. Global consumption peaked at $42.4B in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2023 were China (115M units), the United States (58M units) and Brazil (58M units), together accounting for 44% of global consumption. Japan, the Czech Republic, Germany, the UK, South Korea, Canada and France lagged somewhat behind, together accounting for a further 28%.

From 2013 to 2023, the most notable rate of growth in terms of liquids, amongst the key consuming countries, was attained by the Czech Republic (with a CAGR of +16.8%), while liquids for the other global leaders experienced more modest paces of growth.

In value terms, South Korea ($13.8B) led the market, alone. The second position in the ranking was taken by Japan ($4.6B). It was followed by Brazil.

In South Korea, the market of instruments and apparatus for measuring or checking the flow or level of liquids expanded at an average annual rate of +3.1% over the period from 2013-2023. The remaining consuming countries recorded the following average annual rates of market growth: Japan (+4.5% per year) and Brazil (+9.6% per year).

In 2023, the highest levels of per capita consumption of instruments and apparatus for measuring or checking the flow or level of liquids was registered in the Czech Republic (1,947 units per 1000 persons), followed by Japan (452 units per 1000 persons), Brazil (266 units per 1000 persons) and Canada (263 units per 1000 persons), while the world average per capita consumption of instruments for measuring or checking the flow or level of liquids was estimated at 65 units per 1000 persons.

From 2013 to 2023, the average annual rate of growth in terms of the per capita consumption of instruments and apparatus for measuring or checking the flow or level of liquids in the Czech Republic stood at +16.5%. In the other countries, the average annual rates were as follows: Japan (+3.5% per year) and Brazil (+8.4% per year).

Production

World Production of Instruments And Apparatus For Measuring Or Checking The Flow Or Level Of Liquids

Global production of instruments and apparatus for measuring or checking the flow or level of liquids rose rapidly to 461M units in 2023, surging by 9.8% against 2022 figures. In general, the total production indicated a measured increase from 2013 to 2023: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by -1.2% against 2021 indices. The growth pace was the most rapid in 2018 with an increase of 26%. Global production peaked at 467M units in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

In value terms, production of instruments and apparatus for measuring or checking the flow or level of liquids stood at $38.2B in 2023 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 18%. Over the period under review, global production of instruments and apparatus for measuring or checking flow or level of liquids attained the maximum level at $41.1B in 2021; however, from 2022 to 2023, production remained at a lower figure.

Production By Country

China (139M units) constituted the country with the largest volume of production of instruments and apparatus for measuring or checking the flow or level of liquids, accounting for 30% of total volume. Moreover, production of instruments and apparatus for measuring or checking the flow or level of liquids in China exceeded the figures recorded by the second-largest producer, Japan (58M units), twofold. Brazil (54M units) ranked third in terms of total production with a 12% share.

From 2013 to 2023, the average annual rate of growth in terms of volume in China totaled +2.6%. In the other countries, the average annual rates were as follows: Japan (+2.9% per year) and Brazil (+9.2% per year).

Imports

World Imports of Instruments And Apparatus For Measuring Or Checking The Flow Or Level Of Liquids

In 2023, supplies from abroad of instruments and apparatus for measuring or checking the flow or level of liquids decreased by -7.5% to 249M units for the first time since 2020, thus ending a two-year rising trend. Over the period under review, imports, however, posted prominent growth. The growth pace was the most rapid in 2021 with an increase of 45% against the previous year. Over the period under review, global imports of instruments and apparatus for measuring or checking flow or level of liquids attained the peak figure at 269M units in 2022, and then shrank in the following year.

In value terms, imports of instruments and apparatus for measuring or checking the flow or level of liquids rose sharply to $7B in 2023. The total import value increased at an average annual rate of +2.3% from 2013 to 2023; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 16%. Over the period under review, global imports of instruments and apparatus for measuring or checking flow or level of liquids attained the maximum in 2023 and is likely to see steady growth in the near future.

Imports By Country

In 2023, the United States (53M units), distantly followed by China (22M units), Mexico (21M units), Poland (15M units) and the Czech Republic (13M units) were the largest importers of instruments and apparatus for measuring or checking the flow or level of liquids, together generating 50% of total imports. France (11M units), Germany (10M units), Romania (8.3M units), India (8M units) and Hong Kong SAR (7.4M units) took a relatively small share of total imports.

From 2013 to 2023, average annual rates of growth with regard to instruments for measuring or checking the flow or level of liquids imports into the United States stood at +7.5%. At the same time, India (+17.3%), Hong Kong SAR (+14.5%), Romania (+14.0%), Poland (+13.5%), China (+12.7%), France (+10.1%), Mexico (+8.5%), Germany (+8.5%) and the Czech Republic (+2.1%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of +17.3% from 2013-2023. While the share of China (+3.3 p.p.), Poland (+2.6 p.p.) and India (+1.9 p.p.) increased significantly in terms of the global imports from 2013-2023, the share of the Czech Republic (-3.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($919M), China ($622M) and Germany ($608M) were the countries with the highest levels of imports in 2023, with a combined 31% share of global imports. France, Mexico, India, Poland, the Czech Republic, Romania and Hong Kong SAR lagged somewhat behind, together accounting for a further 13%.

Among the main importing countries, Romania, with a CAGR of +10.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average import price for instruments and apparatus for measuring or checking the flow or level of liquids stood at $28 per unit in 2023, with an increase of 22% against the previous year. Overall, the import price, however, showed a noticeable setback. Global import price peaked at $47 per unit in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($59 per unit), while Hong Kong SAR ($4.5 per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by the Czech Republic (-2.2%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Instruments And Apparatus For Measuring Or Checking The Flow Or Level Of Liquids

In 2023, shipments abroad of instruments and apparatus for measuring or checking the flow or level of liquids increased by 12% to 190M units, rising for the third consecutive year after two years of decline. In general, exports recorded a buoyant increase. The growth pace was the most rapid in 2018 when exports increased by 66%. Over the period under review, the global exports of instruments and apparatus for measuring or checking flow or level of liquids attained the peak figure in 2023 and are expected to retain growth in the immediate term.

In value terms, exports of instruments and apparatus for measuring or checking the flow or level of liquids reached $6.9B in 2023. The total export value increased at an average annual rate of +2.7% over the period from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports By Country

In 2023, China (46M units), distantly followed by Mexico (27M units), Germany (25M units) and Switzerland (12M units) were the main exporters of instruments and apparatus for measuring or checking the flow or level of liquids, together mixing up 58% of total exports. Luxembourg (8.5M units), Poland (8.4M units), France (6.2M units), Italy (5.2M units), Canada (4.9M units) and Hong Kong SAR (4.9M units) followed a long way behind the leaders.

From 2013 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Canada (with a CAGR of +25.2%), while the other global leaders experienced more modest paces of growth.

In value terms, Germany ($1.4B) remains the largest instruments for measuring or checking the flow or level of liquids supplier worldwide, comprising 21% of global exports. The second position in the ranking was held by China ($567M), with an 8.2% share of global exports. It was followed by France, with a 6.6% share.

In Germany, exports of instruments and apparatus for measuring or checking the flow or level of liquids expanded at an average annual rate of +3.3% over the period from 2013-2023. In the other countries, the average annual rates were as follows: China (+8.2% per year) and France (+2.0% per year).

Export Prices By Country

The average export price for instruments and apparatus for measuring or checking the flow or level of liquids stood at $36 per unit in 2023, rising by 2% against the previous year. Overall, the export price, however, continues to indicate a abrupt descent. The growth pace was the most rapid in 2015 when the average export price increased by 14% against the previous year. As a result, the export price reached the peak level of $76 per unit. From 2016 to 2023, the average export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was France ($74 per unit), while Luxembourg ($2.3 per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Switzerland (+1.5%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform