EU: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in the EU

In 2021, the EU market for instruments for measuring electrical quantities increased by 23% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption saw a relatively flat trend pattern. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Production of Instruments for Measuring Electrical Quantities in the EU

In value terms, instruments for measuring electrical quantities production contracted to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 15%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Instruments for Measuring Electrical Quantities

Exports in the EU

In 2021, approx. X units of instruments for measuring electrical quantities were exported in the European Union; increasing by 4.9% compared with the previous year's figure. Total exports indicated a temperate increase from 2012 to 2021: its volume increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -20.8% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 19%. The volume of export peaked at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, instruments for measuring electrical quantities exports soared to $X in 2021. The total export value increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany was the key exporter of instruments for measuring electrical quantities in the European Union, with the volume of exports resulting at X units, which was approx. 36% of total exports in 2021. Romania (X units) ranks second in terms of the total exports with an 18% share, followed by the Netherlands (7%), Hungary (6.2%), France (6.2%) and Italy (5%). Poland (X units), Sweden (X units), Spain (X units), Austria (X units), Belgium (X units), the Czech Republic (X units) and Denmark (X units) took a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Hungary (with a CAGR of +32.3%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the largest instruments for measuring electrical quantities supplier in the European Union, comprising 45% of total exports. The second position in the ranking was taken by Romania ($X), with an 8.4% share of total exports. It was followed by the Netherlands, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Germany amounted to +4.7%. In the other countries, the average annual rates were as follows: Romania (+11.3% per year) and the Netherlands (+2.8% per year).

Export Prices by Country

The export price in the European Union stood at $X per unit in 2021, surging by 11% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the export price increased by 24% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Denmark ($X per unit), while Spain ($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 (+13.1%), while the other leaders experienced more modest paces of growth.

Imports of Instruments for Measuring Electrical Quantities

Imports in the EU

In 2021, overseas purchases of instruments for measuring electrical quantities were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.8% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed 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 skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.6% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X units), distantly followed by Spain (X units), France (X units), Italy (X units), the Netherlands (X units), the Czech Republic (X units) and Poland (X units) were the main importers of instruments for measuring electrical quantities, together committing 78% of total imports. Belgium (X units), Romania (X units), Sweden (X units), Hungary (X units), Denmark (X units) and Austria (X units) followed a long way behind the leaders.

Imports into Germany increased at an average annual rate of +6.7% from 2012 to 2021. At the same time, Hungary (+21.7%), Poland (+14.1%), Denmark (+10.8%), the Czech Republic (+8.0%), Italy (+6.5%) and the Netherlands (+4.7%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing importer imported in the European Union, with a CAGR of +21.7% from 2012-2021. Austria experienced a relatively flat trend pattern. By contrast, France (-2.0%), Belgium (-2.2%), Romania (-2.5%), Spain (-2.8%) and Sweden (-3.2%) illustrated a downward trend over the same period. Germany (+7.3 p.p.), Poland (+3.9 p.p.), the Czech Republic (+2.5 p.p.), Italy (+2.4 p.p.) and Hungary (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Romania, Sweden, Belgium, France and Spain saw its share reduced by -1.6%, -1.7%, -2.1%, -5.9% and -8.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported instruments for measuring electrical quantities in the European Union, comprising 31% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 10% share of total imports. It was followed by France, with a 9.7% share.

From 2012 to 2021, the average annual growth rate of value in Germany amounted to +8.2%. In the other countries, the average annual rates were as follows: the Netherlands (+8.1% per year) and France (-5.2% per year).

Import Prices by Country

The import price in the European Union stood at $X per unit in 2021, approximately equating the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the import price increased by 9.7% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Austria ($X per unit), while Spain ($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 (+8.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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