United Kingdom: Test Bench Market 2024

Test Bench Market Size in the UK

The UK test bench market soared to $X in 2022, with an increase of 45% against the previous year. Overall, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.9% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Test Bench Production in the UK

In value terms, test bench production dropped modestly to $X in 2022 estimated in export price. Overall, production, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2018 when the production volume increased by 17%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Test Bench Exports

Exports from the UK

Test bench exports from the UK fell markedly to X units in 2022, shrinking by -42.8% compared with the previous year's figure. In general, exports saw a pronounced setback. The pace of growth was the most pronounced in 2021 with an increase of 146%. As a result, the exports reached the peak of X units, and then declined markedly in the following year.

In value terms, test bench exports shrank remarkably to $X in 2022. Over the period under review, exports recorded a perceptible decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 303% against the previous year. As a result, the exports attained the peak of $X, and then declined rapidly in the following year.

Exports by Country

The United States (X units) was the main destination for test bench exports from the UK, accounting for a 52% share of total exports. Moreover, test bench exports to the United States exceeded the volume sent to the second major destination, Germany (X units), threefold. The third position in this ranking was held by Poland (X units), with a 4.6% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +6.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-0.7% per year) and Poland (+12.2% per year).

In value terms, the United States ($X) emerged as the key foreign market for test benches exports from the UK, comprising 40% of total exports. The second position in the ranking was taken by Germany ($X), with a 13% share of total exports. It was followed by Saudi Arabia, with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +2.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-0.5% per year) and Saudi Arabia (+26.2% per year).

Export Prices by Country

In 2022, the average test bench export price amounted to $X per unit, reducing by -27% against the previous year. In general, the export price continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2021 when the average export price increased by 64%. Over the period under review, the average export prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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 Saudi Arabia ($X per unit), while the average price for exports to Poland ($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 Russia (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Test Bench Imports

Imports into the UK

After two years of decline, supplies from abroad of test benches increased by 101% to X units in 2022. Over the period under review, total imports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, test bench imports soared to $X in 2022. In general, total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of test bench to the UK, with a 45% share of total imports. Moreover, test bench imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. The Netherlands (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+6.0% per year) and the Netherlands (-3.9% per year).

In value terms, Germany ($X) constituted the largest supplier of test benches to the UK, comprising 35% of total imports. The second position in the ranking was taken by the United States ($X), with a 14% share of total imports. It was followed by France, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+0.9% per year) and France (+9.2% per year).

Import Prices by Country

In 2022, the average test bench import price amounted to $X per unit, declining by -3% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 31%. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

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 United States ($X per unit), while the price for the Netherlands ($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 United States (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :