Overview of the Global Market for Instruments for Measuring Electrical Quantities

Market Size for Instruments for Measuring Electrical Quantities

In 2021, the global market for instruments for measuring electrical quantities increased by 15% to $X, rising for the second year in a row after six years of decline. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the global market attained the peak level in 2021 and is likely to continue growth in the immediate term.

Production of Instruments for Measuring Electrical Quantities

In value terms, instruments for measuring electrical quantities production shrank to $X in 2021 estimated in export price. Overall, production continues to indicate a pronounced reduction. The growth pace was the most rapid in 2020 when the production volume increased by 13% against the previous year. Global production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Exports of Instruments for Measuring Electrical Quantities

Exports

In 2021, overseas shipments of instruments for measuring electrical quantities increased by 11% to X units for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +4.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 23% against the previous year. The global exports peaked at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, instruments for measuring electrical quantities exports soared to $X in 2021. The total export value increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the major exporter of instruments for measuring electrical quantities in the world, with the volume of exports finishing at X units, which was near 41% of total exports in 2021. Germany (X units) ranks second in terms of the total exports with a 13% share, followed by the UK (7%) and Romania (6.5%). The United States (X units), Hong Kong SAR (X units), the Netherlands (X units), Hungary (X units), France (X units), Japan (X units) and Italy (X units) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to instruments for measuring electrical quantities exports from China stood at +19.2%. At the same time, Hungary (+32.3%), the Netherlands (+12.1%), Romania (+8.3%), Hong Kong SAR (+7.3%), the UK (+4.8%) and Germany (+4.4%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing exporter exported in the world, with a CAGR of +32.3% from 2012-2021. By contrast, Japan (-1.1%), Italy (-1.8%), France (-8.5%) and the United States (-10.0%) illustrated a downward trend over the same period. While the share of China (+28 p.p.), Hungary (+2 p.p.) and Romania (+1.7 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of France (-5.3 p.p.) and the United States (-11.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest instruments for measuring electrical quantities supplying countries worldwide were Germany ($X), China ($X) and the United States ($X), together comprising 50% of global exports. The UK, Romania, Hong Kong SAR, the Netherlands, Japan, France, Hungary and Italy lagged somewhat behind, together comprising a further 23%.

Among the main exporting countries, Hungary, with a CAGR of +33.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for instruments for measuring electrical quantities stood at $X per unit in 2021, picking up by 4.5% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 12%. Over the period under review, the average export prices hit record highs 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 amongst the major exporting countries. In 2021, the country with the highest price was the United States ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+13.1%), while the other global leaders experienced more modest paces of growth.

Imports of Instruments for Measuring Electrical Quantities

Imports

In 2021, global instruments for measuring electrical quantities imports soared to X units, surging by 51% against the year before. Over the period under review, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +8.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +99.9% against 2012 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, instruments for measuring electrical quantities imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations 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 2021, the United States (X units), distantly followed by Nigeria (X units) and Germany (X units) were the key importers of instruments for measuring electrical quantities, together comprising 44% of total imports. Indonesia (X units), Spain (X units), Hong Kong SAR (X units), France (X units), China (X units), Italy (X units), the Netherlands (X units), the Czech Republic (X units), Japan (X units) and Turkey (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to instruments for measuring electrical quantities imports into the United States stood at +17.0%. At the same time, Nigeria (+67.8%), China (+21.1%), Hong Kong SAR (+12.6%), Turkey (+10.6%), the Czech Republic (+8.0%), Indonesia (+7.2%), Germany (+6.7%), Italy (+6.5%) and the Netherlands (+4.7%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in the world, with a CAGR of +67.8% from 2012-2021. By contrast, France (-2.0%), Spain (-2.8%) and Japan (-3.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United States, Nigeria and China increased by +12, +12 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest instruments for measuring electrical quantities importing markets worldwide were the United States ($X), Germany ($X) and China ($X), with a combined 34% share of global imports. Hong Kong SAR, the Netherlands, France, Japan, Spain, Italy, the Czech Republic, Turkey, Nigeria and Indonesia lagged somewhat behind, together accounting for a further 22%.

Nigeria, with a CAGR of +28.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for instruments for measuring electrical quantities stood at $X per unit in 2021, dropping by -14.2% against the previous year. Overall, the import price recorded a noticeable contraction. The most prominent rate of growth was recorded in 2014 an increase of 6.3%. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was China ($X per unit), while Nigeria ($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 Netherlands (+3.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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