Northern America: Optical Radiation Instruments Market 2024

Optical Radiation Instruments Market Size in Northern America

The North American optical radiation instruments market dropped notably to $X in 2022, declining by -22.5% against the previous year. Over the period under review, consumption, however, saw a strong expansion. As a result, consumption reached the peak level of $X, and then declined significantly in the following year.

Optical Radiation Instruments Production in Northern America

In value terms, optical radiation instruments production fell notably to $X in 2022 estimated in export price. In general, production recorded a noticeable reduction. The most prominent rate of growth was recorded in 2021 with an increase of 201%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Optical Radiation Instruments Exports

Exports in Northern America

After two years of decline, shipments abroad of instruments using optical radiations increased by 12% to X units in 2022. In general, exports, however, showed a deep slump. The most prominent rate of growth was recorded in 2014 when exports increased by 35%. Over the period under review, the exports attained the peak figure at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, optical radiation instruments exports expanded rapidly to $X in 2022. The total export value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 11%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

The United States was the key exporter of instruments using optical radiations in Northern America, with the volume of exports reaching X units, which was approx. 65% of total exports in 2022. It was distantly followed by Canada (X units), making up a 35% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Canada (with a CAGR of +3.8%).

In value terms, the United States ($X) remains the largest optical radiation instruments supplier in Northern America, comprising 94% of total exports. The second position in the ranking was taken by Canada ($X), with a 6.1% share of total exports.

In the United States, optical radiation instruments exports increased at an average annual rate of +3.3% over the period from 2012-2022.

Export Prices by Country

The export price in Northern America stood at $X per unit in 2022, almost unchanged from the previous year. Over the period under review, the export price, however, showed buoyant growth. The pace of growth was the most pronounced in 2020 an increase of 339%. The level of export peaked at $X per unit in 2021, and then declined modestly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per unit), while Canada stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+20.5%).

Optical Radiation Instruments Imports

Imports in Northern America

In 2022, approx. X units of instruments using optical radiations were imported in Northern America; surging by 6.1% against 2021. The total import volume increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when imports increased by 13%. The volume of import peaked in 2022 and is likely to see steady growth in the near future.

In value terms, optical radiation instruments imports rose notably to $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +73.4% against 2012 indices. The most prominent rate of growth was recorded in 2018 with an increase of 12%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The United States was the main importing country with an import of about X units, which reached 82% of total imports. It was distantly followed by Canada (X units), achieving a 17% share of total imports.

The United States was also the fastest-growing in terms of the instruments using optical radiations imports, with a CAGR of +3.5% from 2012 to 2022. At the same time, Canada (+3.3%) displayed positive paces of growth. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported instruments using optical radiations in Northern America, comprising 83% of total imports. The second position in the ranking was taken by Canada ($X), with a 16% share of total imports.

In the United States, optical radiation instruments imports increased at an average annual rate of +5.8% over the period from 2012-2022.

Import Prices by Country

The import price in Northern America stood at $X per unit in 2022, approximately reflecting the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2021 when the import price increased by 12% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while Canada amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.2%).

Source: IndexBox Platform

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