Belgium: Test Bench Market 2024

Test Bench Market Size in Belgium

The Belgian test bench market contracted slightly to $X in 2022, dropping by -3.8% against the previous year. Overall, consumption, however, continues to indicate a prominent increase. Over the period under review, the market attained the maximum level at $X in 2021, and then shrank modestly in the following year.

Test Bench Production in Belgium

In value terms, test bench production contracted to $X in 2022 estimated in export price. In general, production posted a significant expansion. The growth pace was the most rapid in 2013 with an increase of 85% against the previous year. Test bench production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Test Bench Exports

Exports from Belgium

In 2022, the amount of test benches exported from Belgium fell markedly to X units, reducing by -62.3% against the previous year. In general, exports continue to indicate a slight descent. The pace of growth was the most pronounced in 2015 when exports increased by 74% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, test bench exports declined notably to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 187% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X units) was the main destination for test bench exports from Belgium, with a 46% share of total exports. Moreover, test bench exports to China exceeded the volume sent to the second major destination, Germany (X units), sevenfold. Canada (X units) ranked third in terms of total exports with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled +50.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-5.0% per year) and Canada (+13.0% per year).

In value terms, China ($X) emerged as the key foreign market for test benches exports from Belgium, comprising 39% of total exports. The second position in the ranking was held by the UK ($X), with an 8.2% share of total exports. It was followed by the United States, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to +52.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+19.2% per year) and the United States (+10.4% per year).

Export Prices by Country

The average test bench export price stood at $X per unit in 2022, surging by 55% against the previous year. In general, the export price enjoyed a measured expansion. The pace of growth was the most pronounced in 2013 an increase of 110%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Russia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Test Bench Imports

Imports into Belgium

After two years of growth, overseas purchases of test benches decreased by -26.8% to X units in 2022. In general, imports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 208% against the previous year. As a result, imports reached the peak of X units, and then declined significantly in the following year.

In value terms, test bench imports declined remarkably to $X in 2022. Overall, imports, however, posted pronounced growth. The pace of growth appeared the most rapid in 2021 with an increase of 117%. As a result, imports attained the peak of $X, and then contracted dramatically in the following year.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of test bench to Belgium, accounting for a 78% share of total imports. Moreover, test bench imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X units), fivefold. The Czech Republic (X units) ranked third in terms of total imports with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+25.2% per year) and the Czech Republic (-2.7% per year).

In value terms, the largest test bench suppliers to Belgium were Italy ($X), Germany ($X) and the Czech Republic ($X), with a combined 93% share of total imports.

Italy, with a CAGR of +30.5%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average test bench import price stood at $X per unit in 2022, declining by -13% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average import price increased by 26%. As a result, import price attained the peak level of $X per unit. From 2021 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+4.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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