Slovakia: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in Slovakia

In 2021, the Slovak market for instruments for measuring electrical quantities decreased by -28% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption saw a deep contraction. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Instruments for Measuring Electrical Quantities in Slovakia

In value terms, instruments for measuring electrical quantities production contracted significantly to $X in 2021 estimated in export price. Overall, production continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2020 when the production volume increased by 149%. As a result, production reached the peak level of $X, and then shrank remarkably in the following year.

Exports of Instruments for Measuring Electrical Quantities

Exports from Slovakia

For the third year in a row, Slovakia recorded growth in shipments abroad of instruments for measuring electrical quantities, which increased by 12% to X units in 2021. Overall, exports recorded a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 802%. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, instruments for measuring electrical quantities exports soared to $X in 2021. Over the period under review, exports recorded significant growth. The growth pace was the most rapid in 2016 when exports increased by 1,219%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X units) was the main destination for instruments for measuring electrical quantities exports from Slovakia, accounting for a 90% share of total exports. It was followed by the United States (X units), with a 2.1% share of total exports. The Czech Republic (X units) ranked third in terms of total exports with a 1.7% share.

From 2012 to 2021, the average annual growth rate of volume to Germany totaled +33.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+16.0% per year) and the Czech Republic (+10.2% per year).

In value terms, Germany ($X) remains the key foreign market for instruments for measuring electrical quantities exports from Slovakia, comprising 82% of total exports. The second position in the ranking was taken by the United States ($X), with a 13% share of total exports. It was followed by the Czech Republic, with a 1% share.

From 2012 to 2021, the average annual growth rate of value to Germany stood at +43.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+41.0% per year) and the Czech Republic (+6.4% per year).

Export Prices by Country

In 2021, the average export price for instruments for measuring electrical quantities amounted to $X per unit, jumping by 15% against the previous year. In general, the export price saw a buoyant increase. The pace of growth was the most pronounced in 2020 an increase of 68% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to Poland ($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 the United States (+21.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Instruments for Measuring Electrical Quantities

Imports into Slovakia

Instruments for measuring electrical quantities imports into Slovakia reduced slightly to X units in 2021, with a decrease of -1.6% compared with 2020. Overall, imports recorded a perceptible descent. The most prominent rate of growth was recorded in 2019 with an increase of 74% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, instruments for measuring electrical quantities imports fell to $X in 2021. Over the period under review, total imports indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -37.7% against 2019 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 79%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

South Korea (X units), Romania (X units) and the Czech Republic (X units) were the main suppliers of instruments for measuring electrical quantities imports to Slovakia, together accounting for 68% of total imports. Germany, Poland, China, Italy, Slovenia and Austria lagged somewhat behind, together comprising a further 26%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +54.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), the Czech Republic ($X) and Romania ($X) constituted the largest instruments for measuring electrical quantities suppliers to Slovakia, together accounting for 60% of total imports.

Among the main suppliers, Romania, with a CAGR of +60.7%, saw the highest rates of growth with regard to 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, with a decrease of -4.2% against the previous year. In general, import price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, instruments for measuring electrical quantities import price increased by +40.7% against 2017 indices. The growth pace was the most rapid in 2018 an increase of 37% against the previous year. The import price peaked at $X per unit in 2020, and then shrank slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+30.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :