Peru: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in Peru

In 2021, the Peruvian market for instruments for measuring electrical quantities increased by 78% to $X, rising for the fourth consecutive year after two years of decline. In general, consumption enjoyed buoyant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Instruments for Measuring Electrical Quantities

Exports from Peru

Instruments for measuring electrical quantities exports from Peru dropped markedly to X units in 2021, with a decrease of -77.3% on 2020. Over the period under review, exports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2014 when exports increased by 292%. The exports peaked at X units in 2020, and then reduced dramatically in the following year.

In value terms, instruments for measuring electrical quantities exports declined notably to $X in 2021. Overall, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 60% against the previous year. As a result, the exports attained the peak of $X, and then reduced dramatically in the following year.

Exports by Country

Chile (X units) was the main destination for instruments for measuring electrical quantities exports from Peru, accounting for a 50% share of total exports. Moreover, instruments for measuring electrical quantities exports to Chile exceeded the volume sent to the second major destination, Ecuador (X units), threefold. The third position in this ranking was held by the United States (X units), with a 9.1% share.

From 2012 to 2021, the average annual growth rate of volume to Chile totaled +27.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-0.7% per year) and the United States (+13.5% per year).

In value terms, the largest markets for instruments for measuring electrical quantities exported from Peru were Chile ($X), the United States ($X) and Germany ($X), together accounting for 61% of total exports.

Among the main countries of destination, Chile, with a CAGR of +52.3%, recorded the highest rates of growth with regard to 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

In 2021, the average export price for instruments for measuring electrical quantities amounted to $X per unit, picking up by 99% against the previous year. Overall, the export price saw a prominent expansion. The pace of growth was the most pronounced in 2016 an increase of 137% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to Ecuador ($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 Kyrgyzstan (+34.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Instruments for Measuring Electrical Quantities

Imports into Peru

For the fifth consecutive year, Peru recorded growth in supplies from abroad of instruments for measuring electrical quantities, which increased by 100% to X units in 2021. Over the period under review, imports continue to indicate a prominent increase. 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 skyrocketed to $X in 2021. Overall, imports posted a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Taiwan (Chinese) (X units), China (X units) and the United States (X units) were the main suppliers of instruments for measuring electrical quantities imports to Peru, together accounting for 60% of total imports. Japan, Spain, India, Mexico, Thailand, Germany, Italy and Hungary lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +67.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest instruments for measuring electrical quantities suppliers to Peru were China ($X), the United States ($X) and Germany ($X), with a combined 54% share of total imports. These countries were followed by Mexico, Taiwan (Chinese), Italy, Thailand, Spain, Hungary, India and Japan, which together accounted for a further 23%.

Mexico, with a CAGR of +94.1%, recorded the highest growth rate of the value of imports, in terms of the main suppliers 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, dropping by -17% against the previous year. In general, the import price continues to indicate a deep contraction. The pace of growth was the most pronounced in 2016 an increase of 34% against the previous year. 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 Germany ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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