Slovakia: Test And Measurement Market 2024

Test And Measurement Market Size in Slovakia

In 2021, after two years of decline, there was significant growth in the Slovak test and measurement market, when its value increased by 56% to $X. In general, consumption saw a strong increase. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Test And Measurement Production in Slovakia

In value terms, test and measurement production declined to $X in 2021 estimated in export price. Overall, the total production indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.9% 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 +3.7% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 59% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Test And Measurement Exports

Exports from Slovakia

In 2021, test and measurement exports from Slovakia soared to X units, jumping by 48% against the previous year's figure. Overall, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 65% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, test and measurement exports skyrocketed to $X in 2021. In general, exports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2015 when exports increased by 96%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in years to come.

Exports by Country

Germany (X units), Italy (X units) and Poland (X units) were the main destinations of test and measurement exports from Slovakia, with a combined 67% share of total exports. Slovenia, South Korea, the Czech Republic, Sweden, Spain, Belgium and Austria lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of +395.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for instruments and apparatus for measuring or checking pressure of liquids or gasses exports from Slovakia, comprising 44% of total exports. The second position in the ranking was held by South Korea ($X), with a 9% share of total exports. It was followed by Italy, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value to Germany totaled +46.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+209.5% per year) and Italy (+12.1% per year).

Export Prices by Country

The average test and measurement export price stood at $X per unit in 2021, picking up by 4% against the previous year. In general, the export price, however, recorded a pronounced curtailment. The growth pace was the most rapid in 2015 an increase of 46% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Belgium ($X per unit), while the average price for exports to Slovenia ($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 South Korea (+13.4%), while the prices for the other major destinations experienced mixed trend patterns.

Test And Measurement Imports

Imports into Slovakia

In 2021, overseas purchases of instruments and apparatus for measuring or checking pressure of liquids or gasses increased by 53% to X units for the first time since 2018, thus ending a two-year declining trend. Overall, imports saw a prominent increase. The pace of growth appeared the most rapid in 2017 with an increase of 120%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, test and measurement imports rose rapidly to $X in 2021. Over the period under review, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 130% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Germany (X units) constituted the largest test and measurement supplier to Slovakia, accounting for a 41% share of total imports. Moreover, test and measurement imports from Germany exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was taken by South Korea (X units), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +54.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+55.6% per year) and South Korea (+9.1% per year).

In value terms, Germany ($X) constituted the largest supplier of instruments and apparatus for measuring or checking pressure of liquids or gasses to Slovakia, comprising 38% of total imports. The second position in the ranking was held by South Korea ($X), with a 16% share of total imports. It was followed by France, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +22.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+12.9% per year) and France (+9.3% per year).

Import Prices by Country

The average test and measurement import price stood at $X per unit in 2021, reducing by -30.5% against the previous year. In general, the import price saw a perceptible setback. The growth pace was the most rapid in 2014 an increase of 74% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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