India: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in India

The Indian market for instruments for measuring electrical quantities fell to $X in 2021, reducing by -5.4% against the previous year. The market value increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then declined in the following year.

Production of Instruments for Measuring Electrical Quantities in India

In value terms, instruments for measuring electrical quantities production declined to $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by 31%. As a result, production reached the peak level of $X, and then shrank in the following year.

Exports of Instruments for Measuring Electrical Quantities

Exports from India

In 2021, exports of instruments for measuring electrical quantities from India soared to X units, rising by 34% compared with 2020. In general, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 38%. As a result, the exports attained the peak of X units; afterwards, it flattened through to 2021.

In value terms, instruments for measuring electrical quantities exports surged to $X in 2021. Over the period under review, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates (X units) was the main destination for instruments for measuring electrical quantities exports from India, with a 25% share of total exports. Moreover, instruments for measuring electrical quantities exports to the United Arab Emirates exceeded the volume sent to the second major destination, the UK (X units), threefold. The third position in this ranking was taken by Singapore (X units), with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates totaled +13.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+4.5% per year) and Singapore (+23.5% per year).

In value terms, the largest markets for instruments for measuring electrical quantities exported from India were France ($X), Singapore ($X) and the United States ($X), with a combined 45% share of total exports.

In terms of the main countries of destination, France, with a CAGR of +63.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for instruments for measuring electrical quantities stood at $X per unit in 2021, growing by 58% against the previous year. Overall, export price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +9.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, instruments for measuring electrical quantities export price increased by +120.7% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was France ($X per unit), while the average price for exports to the United Arab Emirates ($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 Singapore (+20.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Instruments for Measuring Electrical Quantities

Imports into India

In 2021, approx. X units of instruments for measuring electrical quantities were imported into India; increasing by 62% on the year before. In general, imports posted significant growth. 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 surged to $X in 2021. Over the period under review, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when imports increased by 28%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

Germany (X units), China (X units) and Singapore (X units) were the main suppliers of instruments for measuring electrical quantities imports to India, with a combined 43% share of total imports. Hong Kong SAR, Bulgaria, Taiwan (Chinese), South Korea, the United States, Switzerland, the UK and Japan lagged somewhat behind, together accounting for a further 48%.

From 2012 to 2021, the biggest increases were recorded for Bulgaria (with a CAGR of +396.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and the United States ($X) were the largest instruments for measuring electrical quantities suppliers to India, together accounting for 57% of total imports. South Korea, Switzerland, the UK, Singapore, Bulgaria, Japan, Taiwan (Chinese) and Hong Kong SAR lagged somewhat behind, together accounting for a further 28%.

In terms of the main suppliers, Bulgaria, with a CAGR of +311.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for instruments for measuring electrical quantities amounted to $X per unit, waning by -24.6% against the previous year. Overall, the import price saw a abrupt downturn. The most prominent rate of growth was recorded in 2017 an increase of 6.3% against the previous year. The import price peaked 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 the United States ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-5.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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