Global Multimeter Market 2024

Multimeter Market Size

The global multimeter market totaled $X in 2022, growing by 12% against the previous year. Over the period under review, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +90.6% against 2014 indices. Global consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Multimeter Production

In value terms, multimeter production rose sharply to $X in 2022 estimated in export price. In general, the total production indicated a perceptible increase from 2012 to 2022: its value 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. Based on 2022 figures, production decreased by -6.9% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 38%. As a result, production reached the peak level of $X. From 2021 to 2022, global production growth remained at a lower figure.

Multimeter Exports

Exports

After eight years of growth, shipments abroad of multimeters decreased by -1.5% to X units in 2022. In general, exports, however, showed a buoyant increase. The pace of growth was the most pronounced in 2014 with an increase of 35% against the previous year. The global exports peaked at X units in 2021, and then declined in the following year.

In value terms, multimeter exports dropped modestly to $X in 2022. Over the period under review, total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +79.5% against 2013 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 21% against the previous year. Over the period under review, the global exports reached the peak figure at $X in 2021, and then fell in the following year.

Exports by Country

China represented the main exporter of multimeters in the world, with the volume of exports accounting for X units, which was near 35% of total exports in 2022. Romania (X units) ranks second in terms of the total exports with an 18% share, followed by Germany (10%) and Hungary (9.2%). The following exporters - Taiwan (Chinese) (X units), South Korea (X units), the Netherlands (X units), Italy (X units), the United States (X units) and Austria (X units) - together made up 13% of total exports.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +62.6%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest multimeter supplying countries worldwide were China ($X), Germany ($X) and the United States ($X), with a combined 44% share of global exports. Romania, Hungary, Italy, Taiwan (Chinese), the Netherlands, Austria and South Korea lagged somewhat behind, together comprising a further 32%.

In terms of the main exporting countries, Austria, with a CAGR of +39.2%, 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

In 2022, the average multimeter export price amounted to $X per unit, leveling off at the previous year. Over the period under review, the export price continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2013 an increase of 0.7%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per unit), while Romania ($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 (+9.6%), while the other global leaders experienced more modest paces of growth.

Multimeter Imports

Imports

In 2022, the amount of multimeters imported worldwide declined to X units, with a decrease of -4.1% on the previous year's figure. In general, total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +95.6% against 2012 indices. The most prominent rate of growth was recorded in 2021 with an increase of 31% against the previous year. As a result, imports reached the peak of X units, and then reduced modestly in the following year.

In value terms, multimeter imports fell to $X in 2022. Overall, total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +20.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 32% against the previous year. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

The purchases of the twelve major importers of multimeters, namely the United States, Germany, Nigeria, Russia, Poland, Indonesia, Romania, France, Brazil, the Netherlands, the UK and Spain, represented more than half of total import. The Czech Republic (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Nigeria (with a CAGR of +49.5%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and the Netherlands ($X) were the countries with the highest levels of imports in 2022, together comprising 31% of global imports. Romania, Nigeria, the UK, France, Russia, Poland, the Czech Republic, Spain, Brazil and Indonesia lagged somewhat behind, together comprising a further 25%.

In terms of the main importing countries, Romania, with a CAGR of +30.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average multimeter import price amounted to $X per unit, with a decrease of -5.4% against the previous year. Overall, the import price recorded a pronounced descent. The most prominent rate of growth was recorded in 2018 an increase of 9.1% against the previous year. Global import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Netherlands ($X per unit), while Indonesia ($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 Czech Republic (+7.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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