U.S.: Test And Measurement Market 2024

Test And Measurement Market Size in the U.S.

In 2021, the U.S. test and measurement market increased by 25% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. Test and measurement consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Test And Measurement Exports

Exports from the U.S.

Test and measurement exports from the United States dropped significantly to X units in 2021, declining by -24.6% compared with the year before. Over the period under review, exports recorded a noticeable downturn. The most prominent rate of growth was recorded in 2014 with an increase of 15%. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, test and measurement exports surged to $X in 2021. The total export value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The exports peaked at $X in 2018; afterwards, it flattened through to 2021.

Exports by Country

Germany (X units), Mexico (X units) and China (X units) were the main destinations of test and measurement exports from the United States, together accounting for 57% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +5.5%), while the other leaders experienced mixed trend patterns.

In value terms, Mexico ($X), Canada ($X) and China ($X) constituted the largest markets for test and measurement exported from the United States worldwide, together comprising 39% of total exports.

China, with a CAGR of +10.4%, saw the highest growth rate of the value of exports, in terms of 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 2021, the average test and measurement export price amounted to $X per unit, growing by 54% against the previous year. In general, export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, test and measurement export price increased by +98.3% against 2015 indices. 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 2021, amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to Germany ($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 Japan (+14.4%), while the prices for the other major destinations experienced more modest paces of growth.

Test And Measurement Imports

Imports into the U.S.

In 2021, after two years of decline, there was significant growth in supplies from abroad of instruments and apparatus for measuring or checking pressure of liquids or gasses, when their volume increased by 26% to X units. The total import volume increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, test and measurement imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Mexico (X units), China (X units) and Japan (X units) were the main suppliers of test and measurement imports to the United States, with a combined 67% share of total imports. Germany, Malaysia, Taiwan (Chinese), Bulgaria, the UK and South Korea lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2021, the biggest increases were recorded for Bulgaria (with a CAGR of +70.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest test and measurement suppliers to the United States were Mexico ($X), China ($X) and Germany ($X), with a combined 55% share of total imports. Japan, the UK, Taiwan (Chinese), Malaysia, Bulgaria and South Korea lagged somewhat behind, together comprising a further 28%.

Bulgaria, with a CAGR of +66.8%, recorded the highest rates of growth with regard to 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

In 2021, the average test and measurement import price amounted to $X per unit, shrinking by -4.5% against the previous year. In general, the import price saw a perceptible decline. The most prominent rate of growth was recorded in 2014 when the average import price increased by 2.2% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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