Bangladesh: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in Bangladesh

The Bangladeshi market for instruments for measuring electrical quantities skyrocketed to $X in 2021, rising by 58% 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). Over the period under review, consumption showed a significant expansion. Over the period under review, the market attained the peak level in 2021 and is likely to see steady growth in the near future.

Exports of Instruments for Measuring Electrical Quantities

Exports from Bangladesh

In 2021, approx. X units of instruments for measuring electrical quantities were exported from Bangladesh; waning by -63.8% compared with 2020 figures. Overall, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 302%. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, instruments for measuring electrical quantities exports shrank dramatically to $X in 2021. Over the period under review, exports, however, saw a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 107% against the previous year. Over the period under review, the exports hit record highs at $X in 2020, and then contracted dramatically in the following year.

Exports by Country

South Korea (X units) was the main destination for instruments for measuring electrical quantities exports from Bangladesh, accounting for a 49% share of total exports. Moreover, instruments for measuring electrical quantities exports to South Korea exceeded the volume sent to the second major destination, Singapore (X units), threefold. China (X units) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to South Korea totaled +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+148.1% per year) and China (+58.8% per year).

In value terms, the largest markets for instruments for measuring electrical quantities exported from Bangladesh were China ($X), Italy ($X) and Singapore ($X), together comprising 73% of total exports.

Among the main countries of destination, China, with a CAGR of +62.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for instruments for measuring electrical quantities amounted to $X per unit, falling by -6.1% against the previous year. Over the period under review, the export price, however, showed noticeable growth. The pace of growth appeared the most rapid in 2015 when the average export price increased by 187% against the previous year. 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.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Italy ($X per unit), while the average price for exports to South Korea ($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 Italy (+87.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Instruments for Measuring Electrical Quantities

Imports into Bangladesh

In 2021, instruments for measuring electrical quantities imports into Bangladesh skyrocketed to X units, surging by 56% against the previous year's figure. Over the period under review, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 142% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the near future.

In value terms, instruments for measuring electrical quantities imports skyrocketed to $X in 2021. Overall, imports continue to indicate a strong expansion. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest instruments for measuring electrical quantities supplier to Bangladesh, accounting for a 89% share of total imports. Moreover, instruments for measuring electrical quantities imports from China exceeded the figures recorded by the second-largest supplier, India (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +33.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+24.1% per year) and the United States (+19.6% per year).

In value terms, China ($X) constituted the largest supplier of instruments for measuring electrical quantities to Bangladesh, comprising 40% of total imports. The second position in the ranking was taken by India ($X), with a 15% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at +33.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+33.4% per year) and the United States (+12.8% per year).

Import Prices by Country

The average import price for instruments for measuring electrical quantities stood at $X per unit in 2021, surging by 1.9% against the previous year. Overall, the import price, however, continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2019 when the average import price increased by 47% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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 ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+7.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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