Spain: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in Spain

In 2021, the Spanish market for instruments for measuring electrical quantities increased by 36% to $X, rising for the third year in a row after two years of decline. Over the period under review, consumption, however, saw a pronounced descent. Instruments for measuring electrical quantities consumption peaked at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Production of Instruments for Measuring Electrical Quantities in Spain

In value terms, instruments for measuring electrical quantities production soared to $X in 2021 estimated in export price. Over the period under review, production, however, posted a resilient increase. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Instruments for Measuring Electrical Quantities

Exports from Spain

In 2021, shipments abroad of instruments for measuring electrical quantities decreased by -24.9% to X units, falling for the second year in a row after two years of growth. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 97% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, instruments for measuring electrical quantities exports reduced slightly to $X in 2021. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by 46%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Italy (X units), Portugal (X units) and the United States (X units) were the main destinations of instruments for measuring electrical quantities exports from Spain, together accounting for 38% of total exports. France, Morocco, Egypt, Saudi Arabia, Hong Kong SAR, Chile, the United Arab Emirates, Norway, Colombia and Germany lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2021, the biggest increases were recorded for Colombia (with a CAGR of +50.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Portugal ($X), France ($X) and the United States ($X) appeared to be the largest markets for instruments for measuring electrical quantities exported from Spain worldwide, with a combined 37% share of total exports. Italy, Germany, Egypt, Norway, Saudi Arabia, Hong Kong SAR, the United Arab Emirates, Chile, Morocco and Colombia lagged somewhat behind, together accounting for a further 30%.

Among the main countries of destination, Colombia, with a CAGR of +28.0%, saw 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, surging by 29% against the previous year. In general, the export price, however, saw a mild reduction. Over the period under review, the average export prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per unit), while the average price for exports to Italy ($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 Portugal (+11.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Instruments for Measuring Electrical Quantities

Imports into Spain

Instruments for measuring electrical quantities imports into Spain soared to X units in 2021, with an increase of 49% on 2020 figures. In general, imports, however, recorded a perceptible shrinkage. Over the period under review, imports reached the peak figure at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, instruments for measuring electrical quantities imports surged to $X in 2021. Over the period under review, imports, however, recorded a noticeable contraction. The growth pace was the most rapid in 2014 with an increase of 60% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Morocco (X units) constituted the largest instruments for measuring electrical quantities supplier to Spain, with a 56% share of total imports. Moreover, instruments for measuring electrical quantities imports from Morocco exceeded the figures recorded by the second-largest supplier, Germany (X units), fourfold. China (X units) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2021, the average annual growth rate of volume from Morocco stood at +389.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-18.2% per year) and China (-2.5% per year).

In value terms, Morocco ($X) constituted the largest supplier of instruments for measuring electrical quantities to Spain, comprising 42% of total imports. The second position in the ranking was held by Germany ($X), with a 20% share of total imports. It was followed by France, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Morocco totaled +288.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-14.3% per year) and France (+3.8% per year).

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 -3% against the previous year. Overall, the import price recorded a mild reduction. The pace of growth was the most pronounced in 2014 an increase of 50% against the previous year. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, 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 Portugal ($X per unit), while the price for Romania ($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 (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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