Australia: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in Australia

The Australian market for instruments for measuring electrical quantities expanded remarkably to $X in 2021, rising by 15% 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). The market value increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Instruments for measuring electrical quantities consumption peaked in 2021 and is likely to see steady growth in the near future.

Exports of Instruments for Measuring Electrical Quantities

Exports from Australia

Instruments for measuring electrical quantities exports from Australia skyrocketed to X units in 2021, picking up by 65% against the year before. In general, exports, however, saw a slight shrinkage. The most prominent rate of growth was recorded in 2014 when exports increased by 82% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, instruments for measuring electrical quantities exports soared to $X in 2021. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 111%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

New Zealand (X units) was the main destination for instruments for measuring electrical quantities exports from Australia, with a 44% share of total exports. Moreover, instruments for measuring electrical quantities exports to New Zealand exceeded the volume sent to the second major destination, Singapore (X units), threefold. The United States (X units) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to New Zealand amounted to -4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+29.2% per year) and the United States (-7.6% per year).

In value terms, the United States ($X), Singapore ($X) and New Zealand ($X) constituted the largest markets for instruments for measuring electrical quantities exported from Australia worldwide, together accounting for 56% of total exports. These countries were followed by Russia, Germany, Malaysia, Canada, the UK, Oman, Indonesia, Brazil and Hong Kong SAR, which together accounted for a further 24%.

Oman, with a CAGR of +43.7%, saw the highest growth rate of the value of exports, among 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 export price for instruments for measuring electrical quantities stood at $X per unit in 2021, which is down by -2.5% against the previous year. Over the period under review, export price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, instruments for measuring electrical quantities export price decreased by -38.8% against 2019 indices. The pace of growth was the most pronounced in 2013 an increase of 69%. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Russia ($X per unit), while the average price for exports to New Zealand ($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 Hong Kong SAR (+25.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Instruments for Measuring Electrical Quantities

Imports into Australia

In 2021, instruments for measuring electrical quantities imports into Australia expanded significantly to X units, increasing by 15% against the previous year. The total import volume increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, instruments for measuring electrical quantities imports soared to $X in 2021. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 20%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, China (X units) constituted the largest instruments for measuring electrical quantities supplier to Australia, with a 69% share of total imports. Moreover, instruments for measuring electrical quantities imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), ninefold. The United States (X units) ranked third in terms of total imports with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+1.3% per year) and the United States (-0.6% per year).

In value terms, the largest instruments for measuring electrical quantities suppliers to Australia were the United States ($X), China ($X) and the UK ($X), with a combined 56% share of total imports. These countries were followed by Germany, Italy, Taiwan (Chinese), Malaysia and India, which together accounted for a further 18%.

In terms of the main suppliers, Italy, with a CAGR of +21.3%, recorded 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 instruments for measuring electrical quantities stood at $X per unit in 2021, growing by 3.2% against the previous year. Overall, the import price, however, showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2018 an increase of 19%. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per unit), while the price for China ($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 UK (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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