India: Measuring Instrument Market 2022

Measuring Instrument Market Size in India

The Indian measuring instrument market soared to $X in 2021, jumping by 246% against the previous year. In general, consumption posted a buoyant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Measuring Instrument Production in India

In value terms, measuring instrument production shrank to $X in 2021 estimated in export price. Overall, production showed strong growth. The pace of growth was the most pronounced in 2013 when the production volume increased by 20%. Measuring instrument production peaked at $X in 2020, and then reduced in the following year.

Measuring Instrument Exports

Exports from India

For the eighth consecutive year, India recorded growth in shipments abroad of instruments and apparatus for measuring or checking the flow or level of liquids, which increased by 50% to X units in 2021. In general, exports enjoyed a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, measuring instrument exports surged to $X in 2021. Over the period under review, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 36% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

China (X units), the United States (X units) and Denmark (X units) were the main destinations of measuring instrument exports from India, together accounting for 44% of total exports. The United Arab Emirates, Italy, the UK, Germany, Oman, Brazil, Japan and Thailand lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2021, the biggest increases were in Brazil (with a CAGR of +103.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for measuring instrument exports from India, comprising 17% of total exports. The second position in the ranking was taken by Germany ($X), with a 6.1% share of total exports. It was followed by Thailand, with a 6% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +21.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+26.7% per year) and Thailand (+5.7% per year).

Export Prices by Country

The average measuring instrument export price stood at $X per unit in 2021, waning by -15.4% against the previous year. Over the period under review, the export price continues to indicate a deep slump. The pace of growth appeared the most rapid in 2016 an increase of 17% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Thailand ($X per unit), while the average price for exports to China ($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 the United States (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Measuring Instrument Imports

Imports into India

Measuring instrument imports into India skyrocketed to X units in 2021, jumping by 39% against the previous year. In general, imports continue to indicate a prominent expansion. The growth pace was the most rapid in 2018 when imports increased by 80% against the previous year. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, measuring instrument imports soared to $X in 2021. Overall, total imports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest measuring instrument supplier to India, with a 40% share of total imports. Moreover, measuring instrument imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), twofold. The third position in this ranking was taken by Germany (X units), with an 8.2% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+49.7% per year) and Germany (+5.8% per year).

In value terms, China ($X) constituted the largest supplier of measuring instrument to India, comprising 32% of total imports. The second position in the ranking was held by Germany ($X), with a 14% share of total imports. It was followed by Australia, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.8% per year) and Australia (+51.7% per year).

Import Prices by Country

In 2021, the average measuring instrument import price amounted to $X per unit, increasing by 8.7% against the previous year. Overall, the import price, however, showed a abrupt descent. The pace of growth was the most pronounced in 2015 when the average import price increased by 21%. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Australia ($X per unit), while the price for South Korea ($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 (-4.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :