Sweden: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in Sweden

The Swedish market for instruments for measuring electrical quantities shrank rapidly to $X in 2021, waning by -87.6% against the previous year. Overall, consumption continues to indicate a abrupt curtailment. Over the period under review, the market reached the maximum level at $X in 2020, and then fell dramatically in the following year.

Production of Instruments for Measuring Electrical Quantities in Sweden

In value terms, instruments for measuring electrical quantities production shrank to $X in 2021 estimated in export price. In general, production, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2013 with an increase of 209% against the previous year. Instruments for measuring electrical quantities production peaked at $X in 2020, and then shrank in the following year.

Exports of Instruments for Measuring Electrical Quantities

Exports from Sweden

In 2021, approx. X units of instruments for measuring electrical quantities were exported from Sweden; waning by -3.7% compared with 2020. Over the period under review, exports continue to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2019 with an increase of 81% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, instruments for measuring electrical quantities exports reduced slightly to $X in 2021. Overall, exports continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2018 when exports increased by 9.3%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Norway (X units) was the main destination for instruments for measuring electrical quantities exports from Sweden, with a 28% share of total exports. Moreover, instruments for measuring electrical quantities exports to Norway exceeded the volume sent to the second major destination, the United States (X units), fourfold. India (X units) ranked third in terms of total exports with a 5.6% share.

From 2012 to 2021, the average annual growth rate of volume to Norway stood at +12.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-1.8% per year) and India (-0.4% per year).

In value terms, the United States ($X), China ($X) and the UK ($X) appeared to be the largest markets for instruments for measuring electrical quantities exported from Sweden worldwide, with a combined 19% share of total exports.

In terms of the main countries of destination, China, with a CAGR of +11.9%, recorded 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, with an increase of 3% against the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 31%. The export price peaked at $X per unit in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was China ($X per unit), while the average price for exports to Norway ($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 China (+13.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Instruments for Measuring Electrical Quantities

Imports into Sweden

Instruments for measuring electrical quantities imports into Sweden surged to X units in 2021, with an increase of 61% against the year before. Over the period under review, imports, however, saw a perceptible contraction. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, instruments for measuring electrical quantities imports soared to $X in 2021. Overall, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The UK (X units), China (X units) and Hungary (X units) were the main suppliers of instruments for measuring electrical quantities imports to Sweden, together comprising 69% of total imports.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +139.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest instruments for measuring electrical quantities suppliers to Sweden were Germany ($X), the Netherlands ($X) and the United States ($X), with a combined 46% share of total imports. The UK, Hungary, China, Denmark, Norway, Belgium, Taiwan (Chinese) and Hong Kong SAR lagged somewhat behind, together comprising a further 37%.

In terms of the main suppliers, Hungary, with a CAGR of +137.2%, saw the highest growth rate of 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, declining by -11.4% against the previous year. Over the period under review, import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +8.8% over the last nine years. 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 +14.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of 82%. Over the period under review, average import prices hit record highs at $X per unit in 2020, and then declined 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 the Netherlands ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+24.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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