Spain: Multimeter Market 2024

Multimeter Market Size in Spain

In 2022, the Spanish multimeter market decreased by -13.1% to $X, falling for the second year in a row after four years of growth. Over the period under review, consumption saw a pronounced increase. Multimeter consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Multimeter Production in Spain

In value terms, multimeter production amounted to $X in 2022 estimated in export price. In general, production showed measured growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 83%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Multimeter Exports

Exports from Spain

In 2022, overseas shipments of multimeters increased by 41% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 61%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, multimeter exports expanded significantly to $X in 2022. In general, exports enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 145% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X units), Portugal (X units) and France (X units) were the main destinations of multimeter exports from Spain, together accounting for 57% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +68.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for multimeter exported from Spain were Italy ($X), Portugal ($X) and Norway ($X), together accounting for 41% of total exports.

Italy, with a CAGR of +60.4%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average multimeter export price amounted to $X per unit, falling by -22.8% against the previous year. Overall, export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, multimeter export price decreased by -35.5% against 2020 indices. The pace of growth appeared the most rapid in 2017 an increase of 52%. Over the period under review, the average export prices reached the maximum at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Cuba ($X per unit), while the average price for exports to Serbia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Norway (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.

Multimeter Imports

Imports into Spain

For the third consecutive year, Spain recorded growth in purchases abroad of multimeters, which increased by 11% to X units in 2022. Over the period under review, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +35.3% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 22%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, multimeter imports rose notably to $X in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +18.7% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 27% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), Romania (X units) and Germany (X units) were the main suppliers of multimeter imports to Spain, with a combined 87% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +243.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Romania ($X) and Germany ($X) appeared to be the largest multimeter suppliers to Spain, together accounting for 59% of total imports.

Romania, with a CAGR of +207.7%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average multimeter import price stood at $X per unit in 2022, with a decrease of -2.2% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 15% against the previous year. As a result, import price attained the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Hungary ($X per unit), while the price for Romania ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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