U.S.: Measuring Instrument Market 2022

Measuring Instrument Market Size in the U.S.

In 2021, the U.S. measuring instrument market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Measuring Instrument Production in the U.S.

In value terms, measuring instrument production fell to $X in 2021. The total output value increased at an average annual rate of +2.8% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by 3.3% against the previous year. Measuring instrument production peaked at $X in 2020, and then reduced modestly in the following year.

Measuring Instrument Exports

Exports from the U.S.

In 2021, exports of instruments and apparatus for measuring or checking the flow or level of liquids from the United States expanded significantly to X units, surging by 13% compared with the previous year. Overall, total exports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when exports increased by 30%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, measuring instrument exports expanded sharply to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X units), Canada (X units) and Mexico (X units) were the main destinations of measuring instrument exports from the United States, with a combined 35% share of total exports.

From 2012 to 2021, the biggest increases were in Germany (with a CAGR of +18.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for measuring instrument exported from the United States were Canada ($X), China ($X) and Mexico ($X), together comprising 38% of total exports. Germany, the UK, the Netherlands, Brazil, France, Singapore, Japan, Australia, Italy and Malaysia lagged somewhat behind, together accounting for a further 34%.

France, with a CAGR of +8.3%, 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

The average measuring instrument export price stood at $X per unit in 2021, with a decrease of -2.7% against the previous year. Overall, the export price showed a perceptible decrease. The most prominent rate of growth was recorded in 2014 an increase of 47% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: 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 the Netherlands (+4.5%), while the prices for the other major destinations experienced mixed trend patterns.

Measuring Instrument Imports

Imports into the U.S.

In 2021, purchases abroad of instruments and apparatus for measuring or checking the flow or level of liquids was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports continue to indicate buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, measuring instrument imports soared to $X in 2021. The total import value increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Mexico (X units) constituted the largest measuring instrument supplier to the United States, accounting for a 56% share of total imports. Moreover, measuring instrument imports from Mexico exceeded the figures recorded by the second-largest supplier, China (X units), threefold. Canada (X units) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Mexico totaled +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+10.3% per year) and Canada (+1.1% per year).

In value terms, Mexico ($X) constituted the largest supplier of measuring instrument to the United States, comprising 30% of total imports. The second position in the ranking was held by Germany ($X), with a 12% share of total imports. It was followed by China, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from Mexico stood at +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.4% per year) and China (+7.5% per year).

Import Prices by Country

The average measuring instrument import price stood at $X per unit in 2021, reducing by -11.7% against the previous year. Over the period under review, the import price saw a noticeable slump. The most prominent rate of growth was recorded in 2014 an increase of 27% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average 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 Germany ($X per unit), while the price for Mexico ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+12.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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