Ireland: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in Ireland

The Irish market for instruments for measuring electrical quantities soared to $X in 2021, picking up by 123% against the previous year. Overall, consumption enjoyed a strong increase. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Production of Instruments for Measuring Electrical Quantities in Ireland

In value terms, instruments for measuring electrical quantities production reduced modestly to $X in 2021 estimated in export price. Overall, the total production indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +83.6% against 2018 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 83% against the previous year. Instruments for measuring electrical quantities production peaked at $X in 2020, and then shrank slightly in the following year.

Exports of Instruments for Measuring Electrical Quantities

Exports from Ireland

In 2021, the amount of instruments for measuring electrical quantities exported from Ireland surged to X units, jumping by 295% compared with 2020 figures. Over the period under review, exports continue to indicate a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, instruments for measuring electrical quantities exports soared to $X in 2021. In general, exports saw resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for instruments for measuring electrical quantities exports from Ireland, accounting for a 42% share of total exports. Moreover, instruments for measuring electrical quantities exports to the United States exceeded the volume sent to the second major destination, Saudi Arabia (X units), twofold. The United Arab Emirates (X units) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +33.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+136.1% per year) and the United Arab Emirates (+49.4% per year).

In value terms, the United States ($X), India ($X) and the UK ($X) constituted the largest markets for instruments for measuring electrical quantities exported from Ireland worldwide, with a combined 75% share of total exports. Saudi Arabia, Poland, the United Arab Emirates, France, Norway and Germany lagged somewhat behind, together comprising a further 20%.

Saudi Arabia, with a CAGR of +121.0%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination 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, waning by -60.9% against the previous year. Overall, the export price continues to indicate a deep slump. The growth pace was the most rapid in 2013 an increase of 31%. Over the period under review, the average export prices attained the maximum at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was India ($X per unit), while the average price for exports to the United Arab Emirates ($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 North Macedonia (+89.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Instruments for Measuring Electrical Quantities

Imports into Ireland

In 2021, the amount of instruments for measuring electrical quantities imported into Ireland surged to X units, increasing by 381% against 2020. Over the period under review, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 492% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

In value terms, instruments for measuring electrical quantities imports surged to $X in 2021. Overall, imports posted a prominent expansion. The growth pace was the most rapid in 2013 with an increase of 367% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the UK (X units) constituted the largest instruments for measuring electrical quantities supplier to Ireland, with a 64% share of total imports. Moreover, instruments for measuring electrical quantities imports from the UK exceeded the figures recorded by the second-largest supplier, China (X units), fivefold. The third position in this ranking was held by the United States (X units), with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the UK stood at +35.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+26.1% per year) and the United States (+11.3% per year).

In value terms, the UK ($X) constituted the largest supplier of instruments for measuring electrical quantities to Ireland, comprising 47% of total imports. The second position in the ranking was held by the United States ($X), with a 16% share of total imports. It was followed by China, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the UK amounted to +24.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.5% per year) and China (+18.4% per year).

Import Prices by Country

The average import price for instruments for measuring electrical quantities stood at $X per unit in 2021, which is down by -44.5% against the previous year. Over the period under review, the import price recorded a drastic downturn. The pace of growth was the most pronounced in 2016 when the average import price increased by 28% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per unit), while the price for New Zealand ($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 (+7.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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