United Kingdom: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in the UK

In 2021, the UK market for instruments for measuring electrical quantities increased by 6.6% to $X, rising for the second consecutive year after three years of decline. Overall, the total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +128.0% against 2019 indices. Instruments for measuring electrical quantities consumption peaked in 2021 and is likely to see gradual growth in years to come.

Production of Instruments for Measuring Electrical Quantities in the UK

In value terms, instruments for measuring electrical quantities production declined to $X in 2021 estimated in export price. In general, production, however, saw a perceptible decline. The most prominent rate of growth was recorded in 2020 with an increase of 22% against the previous year. Instruments for measuring electrical quantities production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Instruments for Measuring Electrical Quantities

Exports from the UK

In 2021, shipments abroad of instruments for measuring electrical quantities was finally on the rise to reach X units after two years of decline. The total export volume increased at an average annual rate of +4.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, instruments for measuring electrical quantities exports skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a mild contraction. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Ireland (X units), the United States (X units) and the Netherlands (X units) were the main destinations of instruments for measuring electrical quantities exports from the UK, with a combined 44% share of total exports. These countries were followed by Germany, France, Singapore, Sweden, Norway, Spain, China, Australia, Italy and the United Arab Emirates, which together accounted for a further 41%.

From 2012 to 2021, the biggest increases were recorded for Norway (with a CAGR of +22.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and the Netherlands ($X) constituted the largest markets for instruments for measuring electrical quantities exported from the UK worldwide, with a combined 40% share of total exports. China, France, Ireland, Australia, Singapore, Norway, Spain, the United Arab Emirates, Italy and Sweden lagged somewhat behind, together accounting for a further 32%.

In terms of the main countries of destination, Ireland, with a CAGR of +13.9%, saw 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, waning by -13.9% against the previous year. Over the period under review, the export price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2020 an increase of 11%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Germany ($X per unit), while the average price for exports to Ireland ($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 (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Instruments for Measuring Electrical Quantities

Imports into the UK

After two years of decline, purchases abroad of instruments for measuring electrical quantities increased by 9.5% to X units in 2021. In general, total imports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -36.1% against 2018 indices. The pace of growth was the most pronounced in 2015 when imports increased by 44%. Over the period under review, imports attained the peak figure at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, instruments for measuring electrical quantities imports surged to $X in 2021. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when imports increased by 23% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of instruments for measuring electrical quantities to the UK, accounting for a 32% share of total imports. Moreover, instruments for measuring electrical quantities imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. The United States (X units) ranked third in terms of total imports with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.5% per year) and the United States (-4.6% per year).

In value terms, the largest instruments for measuring electrical quantities suppliers to the UK were Germany ($X), the United States ($X) and China ($X), together comprising 51% of total imports. The Netherlands, France, Taiwan (Chinese), India, Romania, Spain, Hungary, Belgium, Hong Kong SAR and Sweden lagged somewhat behind, together accounting for a further 33%.

Among the main suppliers, Romania, with a CAGR of +161.8%, 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

In 2021, the average import price for instruments for measuring electrical quantities amounted to $X per unit, picking up by 5.5% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.0%. The pace of growth appeared the most rapid in 2020 an increase of 28% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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