Denmark: Measuring Instrument Market 2022

Measuring Instrument Market Size in Denmark

The Danish measuring instrument market declined significantly to $X in 2021, dropping by -45% against the previous year. In general, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Measuring Instrument Production in Denmark

In value terms, measuring instrument production rose significantly to $X in 2021 estimated in export price. In general, production showed a pronounced contraction. The pace of growth was the most pronounced in 2013 with an increase of 24% against the previous year. Measuring instrument production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Measuring Instrument Exports

Exports from Denmark

In 2021, shipments abroad of instruments and apparatus for measuring or checking the flow or level of liquids increased by 40% to X units, rising for the sixth consecutive year after two years of decline. Over the period under review, exports showed a significant expansion. The pace of growth was the most pronounced in 2017 when exports increased by 91%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, measuring instrument exports expanded notably to $X in 2021. Overall, total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +3.8% against 2018 indices. The growth pace was the most rapid in 2017 when exports increased by 30% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Germany (X units) was the main destination for measuring instrument exports from Denmark, accounting for a 36% share of total exports. Moreover, measuring instrument exports to Germany exceeded the volume sent to the second major destination, Sweden (X units), twofold. The United Arab Emirates (X units) ranked third in terms of total exports with a 5.6% share.

From 2012 to 2021, the average annual growth rate of volume to Germany amounted to +22.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+41.8% per year) and the United Arab Emirates (+27.9% per year).

In value terms, Germany ($X) remains the key foreign market for measuring instrument exports from Denmark, comprising 23% of total exports. The second position in the ranking was taken by Sweden ($X), with an 11% share of total exports. It was followed by the United States, with a 6.7% share.

From 2012 to 2021, the average annual growth rate of value to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+21.5% per year) and the United States (+17.2% per year).

Export Prices by Country

In 2021, the average measuring instrument export price amounted to $X per unit, reducing by -18.1% against the previous year. Overall, the export price faced a deep contraction. The growth pace was the most rapid in 2013 when the average export price increased by 4% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to the United Arab Emirates ($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 South Africa (-3.8%), while the prices for the other major destinations experienced a decline.

Measuring Instrument Imports

Imports into Denmark

In 2021, supplies from abroad of instruments and apparatus for measuring or checking the flow or level of liquids increased by 47% to X units, rising for the third consecutive year after two years of decline. Over the period under review, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 80%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, measuring instrument imports amounted to $X in 2021. Overall, total imports indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +4.8% 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 +75.2% against 2013 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 18% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Germany (X units) constituted the largest measuring instrument supplier to Denmark, with a 42% share of total imports. Moreover, measuring instrument imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold. China (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+34.3% per year) and China (+25.1% per year).

In value terms, Germany ($X), France ($X) and the Netherlands ($X) were the largest measuring instrument suppliers to Denmark, together comprising 67% of total imports. These countries were followed by the UK, Sweden, Italy, Finland, China and India, which together accounted for a further 24%.

India, with a CAGR of +75.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average measuring instrument import price stood at $X per unit in 2021, reducing by -22.5% against the previous year. In general, the import price continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2015 an increase of 15% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 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 France ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+2.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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