Spain: Measuring Instrument Market 2022

Measuring Instrument Market Size in Spain

The Spanish measuring instrument market declined markedly to $X in 2021, shrinking by -36.9% against the previous year. Over the period under review, consumption, however, continues to indicate resilient growth. Over the period under review, the market hit record highs at $X in 2020, and then fell notably in the following year.

Measuring Instrument Production in Spain

In value terms, measuring instrument production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, posted a mild expansion. The most prominent rate of growth was recorded in 2017 with an increase of 174%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Measuring Instrument Exports

Exports from Spain

In 2021, overseas shipments of instruments and apparatus for measuring or checking the flow or level of liquids increased by 180% to X units, rising for the second year in a row after three years of decline. In general, exports enjoyed strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, measuring instrument exports skyrocketed to $X in 2021. Overall, total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X units) was the main destination for measuring instrument exports from Spain, with a 63% share of total exports. Moreover, measuring instrument exports to Germany exceeded the volume sent to the second major destination, the UK (X units), more than tenfold. France (X units) ranked third in terms of total exports with a 3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany amounted to +11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+22.9% per year) and France (+0.7% per year).

In value terms, Germany ($X) remains the key foreign market for measuring instrument exports from Spain, comprising 38% of total exports. The second position in the ranking was held by the UK ($X), with a 9.4% share of total exports. It was followed by Portugal, with a 4.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany totaled +27.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+27.2% per year) and Portugal (-0.4% per year).

Export Prices by Country

In 2021, the average measuring instrument export price amounted to $X per unit, shrinking by -36.4% against the previous year. In general, the export price, however, enjoyed a modest increase. The pace of growth appeared the most rapid in 2017 when the average export price increased by 96%. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to Oman ($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 Argentina (+23.2%), while the prices for the other major destinations experienced more modest paces of growth.

Measuring Instrument Imports

Imports into Spain

In 2021, measuring instrument imports into Spain reached X units, surging by 5.7% against the year before. In general, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +8.3% 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 increased by +76.0% against 2017 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 63%. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, measuring instrument imports totaled $X in 2021. The total import value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 13% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

France (X units), Germany (X units) and Italy (X units) were the main suppliers of measuring instrument imports to Spain, together comprising 83% of total imports. China, the UK, the United States and the Czech Republic lagged somewhat behind, together comprising a further 12%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +27.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of measuring instrument to Spain, comprising 40% of total imports. The second position in the ranking was held by France ($X), with a 16% share of total imports. It was followed by the UK, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+5.5% per year) and the UK (+13.1% per year).

Import Prices by Country

The average measuring instrument import price stood at $X per unit in 2021, waning by -3.4% against the previous year. In general, the import price showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2019 when the average import price increased by 30% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+6.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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