Global Test And Measurement Market 2024

Test And Measurement Market Size

In 2021, the global test and measurement market decreased by -2.5% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +78.8% against 2012 indices. Over the period under review, the global market attained the maximum level at $X in 2020, and then reduced modestly in the following year.

Test And Measurement Production

In value terms, test and measurement production fell modestly to $X in 2021 estimated in export price. In general, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when the production volume increased by 39% against the previous year. Over the period under review, global production hit record highs at $X in 2020, and then dropped slightly in the following year.

Test And Measurement Exports

Exports

In 2021, global exports of instruments and apparatus for measuring or checking pressure of liquids or gasses skyrocketed to X units, increasing by 31% compared with the previous year. Overall, total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 69% against the previous year. Over the period under review, the global exports hit record highs in 2021 and are likely to see steady growth in the immediate term.

In value terms, test and measurement exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the major exporter of instruments and apparatus for measuring or checking pressure of liquids or gasses in the world, with the volume of exports resulting at X units, which was near 38% of total exports in 2021. Germany (X units) ranks second in terms of the total exports with a 20% share, followed by Mexico (9.8%). The following exporters - Japan (X units), Poland (X units), Hong Kong SAR (X units), Switzerland (X units), Bulgaria (X units), Taiwan (Chinese) (X units), Spain (X units) and the UK (X units) - together made up 20% of total exports.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +33.7%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the largest test and measurement supplier worldwide, comprising 25% of global exports. The second position in the ranking was held by China ($X), with a 12% share of global exports. It was followed by Mexico, with a 5.7% share.

In Germany, test and measurement exports increased at an average annual rate of +4.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: China (+11.5% per year) and Mexico (+4.3% per year).

Export Prices by Country

The average test and measurement export price stood at $X per unit in 2021, reducing by -11.5% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average export price increased by 83% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the UK ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+5.0%), while the other global leaders experienced more modest paces of growth.

Test And Measurement Imports

Imports

In 2021, approx. X units of instruments and apparatus for measuring or checking pressure of liquids or gasses were imported worldwide; growing by 14% compared with the year before. The total import volume increased at an average annual rate of +6.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 22% against the previous year. Over the period under review, global imports reached the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, test and measurement imports soared to $X in 2021. The total import value increased at an average annual rate of +5.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) and the United States (X units) represented the key importers of instruments and apparatus for measuring or checking pressure of liquids or gassesacross the globe, together resulting at approx. 42% of total imports. It was distantly followed by Germany (X units), Mexico (X units) and South Korea (X units), together making up a 25% share of total imports. The following importers - the UK (X units), Poland (X units), Italy (X units), Turkey (X units), the Czech Republic (X units), Japan (X units) and Russia (X units) - each amounted to a 13% share of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +25.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Germany ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 42% share of global imports. South Korea, Mexico, Italy, the UK, Japan, Poland, Turkey, Russia and the Czech Republic lagged somewhat behind, together accounting for a further 21%.

Among the main importing countries, Turkey, with a CAGR of +12.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average test and measurement import price amounted to $X per unit, surging by 2.7% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 9.9% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per unit), while Mexico ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+7.8%), while the other global leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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