Czech Republic: Measuring Instrument Market 2022

Measuring Instrument Market Size in the Czech Republic

For the third consecutive year, the Czech measuring instrument market recorded growth in sales value, which increased by 6.7% to $X in 2021. In general, consumption recorded prominent growth. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the immediate term.

Measuring Instrument Production in the Czech Republic

In value terms, measuring instrument production declined slightly to $X in 2021 estimated in export price. Overall, production, however, showed a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 482% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Measuring Instrument Exports

Exports from the Czech Republic

In 2021, shipments abroad of instruments and apparatus for measuring or checking the flow or level of liquids was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, recorded a noticeable curtailment. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, measuring instrument exports rose significantly to $X in 2021. The total export value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 15% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for measuring instrument exports from the Czech Republic, with a 50% share of total exports. Moreover, measuring instrument exports to the United States exceeded the volume sent to the second major destination, Germany (X units), threefold. Romania (X units) ranked third in terms of total exports with a 5.5% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +22.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-18.2% per year) and Romania (+61.8% per year).

In value terms, the largest markets for measuring instrument exported from the Czech Republic were Romania ($X), Germany ($X) and the United States ($X), with a combined 54% share of total exports.

Romania, with a CAGR of +64.0%, recorded the highest rates of growth with regard to 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

In 2021, the average measuring instrument export price amounted to $X per unit, shrinking by -5.3% against the previous year. In general, the export price, however, continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 65% against the previous year. As a result, the export price reached the peak level of $X per unit, and then reduced in the following year.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Romania ($X per unit), while the average price for exports to the United States ($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 France (+23.3%), while the prices for the other major destinations experienced more modest paces of growth.

Measuring Instrument Imports

Imports into the Czech Republic

In 2021, the amount of instruments and apparatus for measuring or checking the flow or level of liquids imported into the Czech Republic soared to X units, jumping by 24% compared with the previous year's figure. In general, total imports indicated a mild expansion from 2012 to 2021: its volume increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +54.4% against 2016 indices. The most prominent rate of growth was recorded in 2019 with an increase of 62% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, measuring instrument imports soared to $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X units) was the main measuring instrument supplier to the Czech Republic, accounting for a 93% share of total imports. It was followed by China (X units), with a 1.7% share of total imports. Italy (X units) ranked third in terms of total imports with a 0.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.8% per year) and Italy (-15.9% per year).

In value terms, Germany ($X) constituted the largest supplier of measuring instrument to the Czech Republic, comprising 45% of total imports. The second position in the ranking was held by China ($X), with a 7.5% share of total imports. It was followed by the United States, with a 6.5% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at -3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-1.3% per year) and the United States (+4.5% per year).

Import Prices by Country

In 2021, the average measuring instrument import price amounted to $X per unit, rising by 2.5% against the previous year. Overall, the import price, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in 2014 when the average import price increased by 50% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+25.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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