U.S.: Market for Electronic Instruments And Machines For Measuring Geometrical Quantities 2024

Market Size for Electronic Instruments And Machines For Measuring Geometrical Quantities in the U.S.

The U.S. geometrical quantities electronic measurer market expanded notably to $X in 2022, picking up by 9.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +92.0% against 2016 indices. Geometrical quantities electronic measurer consumption peaked in 2022 and is likely to see steady growth in years to come.

Exports of Electronic Instruments And Machines For Measuring Geometrical Quantities

Exports from the U.S.

In 2022, after three years of decline, there was growth in overseas shipments of electronic instruments and machines for measuring geometrical quantities, when their volume increased by 2.6% to X units. Over the period under review, exports, however, continue to indicate a slight shrinkage. The growth pace was the most rapid in 2014 with an increase of 14%. Over the period under review, the exports attained the maximum at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, geometrical quantities electronic measurer exports surged to $X in 2022. The total export value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X units) was the main destination for geometrical quantities electronic measurer exports from the United States, with a 40% share of total exports. Moreover, geometrical quantities electronic measurer exports to Mexico exceeded the volume sent to the second major destination, Canada (X units), threefold. Germany (X units) ranked third in terms of total exports with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Mexico amounted to +9.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-4.7% per year) and Germany (+1.6% per year).

In value terms, the largest markets for geometrical quantities electronic measurer exported from the United States were Mexico ($X), Canada ($X) and Germany ($X), together accounting for 43% of total exports. China, Japan, the UK, South Korea, the United Arab Emirates, France, Taiwan (Chinese), Brazil, Singapore and Australia lagged somewhat behind, together accounting for a further 36%.

The United Arab Emirates, with a CAGR of +9.8%, saw the highest rates of growth with regard to 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 geometrical quantities electronic measurer export price amounted to $X per unit, surging by 14% against the previous year. Over the last decade, it increased at an average annual rate of +3.2%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Mexico ($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 France (+17.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electronic Instruments And Machines For Measuring Geometrical Quantities

Imports into the U.S.

In 2022, the amount of electronic instruments and machines for measuring geometrical quantities imported into the United States rose sharply to X units, picking up by 13% compared with the year before. Over the period under review, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 31% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, geometrical quantities electronic measurer imports expanded rapidly to $X in 2022. The total import value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 23% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Mexico (X units), China (X units) and Canada (X units) were the main suppliers of geometrical quantities electronic measurer imports to the United States, together comprising 71% of total imports. Japan, South Korea, Germany, Vietnam, Switzerland and the UK lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +61.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Japan ($X) and Mexico ($X) constituted the largest geometrical quantities electronic measurer suppliers to the United States, with a combined 36% share of total imports. China, Canada, the UK, Switzerland, South Korea and Vietnam lagged somewhat behind, together comprising a further 33%.

Among the main suppliers, Vietnam, with a CAGR of +35.9%, 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

The average geometrical quantities electronic measurer import price stood at $X per unit in 2022, with a decrease of -6.4% against the previous year. In general, the import price faced a abrupt setback. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 the UK ($X per unit), while the price for Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+9.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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