Geometrical Quantities Electronic Measurer Market

The global market for electronic instruments and machines used for measuring geometrical quantities is projected to experience positive growth between 2022 and 2030. Market performance is forecast to expand at a CAGR of +3.9% in terms of volume and +4.6% in terms of value. Consumption is on the rise, with Hong Kong SAR leading in both consumption and production. China is the largest importer, while China and Germany lead in exports. The data indicates a thriving market, with key countries showing significant growth rates and trends over the past decade.

Market Forecast

Driven by increasing demand for electronic instruments and machines for measuring geometrical quantities worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.9% for the period from 2022 to 2030, which is projected to bring the market volume to 1.9B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.6% for the period from 2022 to 2030, which is projected to bring the market value to $358.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Electronic Instruments And Machines For Measuring Geometrical Quantities

After three years of growth, consumption of electronic instruments and machines for measuring geometrical quantities decreased by -1% to 1.4B units in 2022. In general, consumption, however, recorded a strong expansion. Global consumption peaked at 1.4B units in 2021, and then fell slightly in the following year.

The global geometrical quantities electronic measurer market size surged to $250.4B in 2022, picking up by 17% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a prominent expansion. Over the period under review, the global market hit record highs in 2022 and is expected to retain growth in years to come.

Consumption By Country

Hong Kong SAR (465M units) constituted the country with the largest volume of geometrical quantities electronic measurer consumption, accounting for 34% of total volume. Moreover, geometrical quantities electronic measurer consumption in Hong Kong SAR exceeded the figures recorded by the second-largest consumer, China (146M units), threefold. The third position in this ranking was taken by India (111M units), with an 8% share.

In Hong Kong SAR, geometrical quantities electronic measurer consumption increased at an average annual rate of +12.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+16.2% per year) and India (+25.8% per year).

In value terms, the United States ($107B) led the market, alone. The second position in the ranking was taken by India ($10.6B). It was followed by Italy.

In the United States, the geometrical quantities electronic measurer market increased at an average annual rate of +22.2% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: India (+19.1% per year) and Italy (+19.4% per year).

In 2022, the highest levels of geometrical quantities electronic measurer per capita consumption was registered in Hong Kong SAR (61 units per person), followed by Singapore (15 units per person), Italy (0.6 units per person) and South Korea (0.5 units per person), while the world average per capita consumption of geometrical quantities electronic measurer was estimated at 0.2 units per person.

In Hong Kong SAR, geometrical quantities electronic measurer per capita consumption increased at an average annual rate of +11.9% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Singapore (+0.2% per year) and Italy (+20.8% per year).

Production

World Production of Electronic Instruments And Machines For Measuring Geometrical Quantities

In 2022, the amount of electronic instruments and machines for measuring geometrical quantities produced worldwide reached 944M units, growing by 4.6% against the previous year's figure. Over the period under review, production continues to indicate a strong expansion. The growth pace was the most rapid in 2017 when the production volume increased by 83%. Global production peaked at 979M units in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

In value terms, geometrical quantities electronic measurer production expanded notably to $219.6B in 2022 estimated in export price. Overall, production showed a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 57%. Over the period under review, global production reached the peak level at $232.7B in 2020; however, from 2021 to 2022, production remained at a lower figure.

Production By Country

Hong Kong SAR (567M units) constituted the country with the largest volume of geometrical quantities electronic measurer production, accounting for 60% of total volume. Moreover, geometrical quantities electronic measurer production in Hong Kong SAR exceeded the figures recorded by the second-largest producer, Singapore (164M units), threefold. The third position in this ranking was taken by the United States (50M units), with a 5.3% share.

In Hong Kong SAR, geometrical quantities electronic measurer production increased at an average annual rate of +18.9% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Singapore (+6.7% per year) and the United States (+14.1% per year).

Imports

World Imports of Electronic Instruments And Machines For Measuring Geometrical Quantities

In 2022, purchases abroad of electronic instruments and machines for measuring geometrical quantities decreased by -18.6% to 1.7B units, falling for the second year in a row after three years of growth. Overall, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of 117%. Over the period under review, global imports reached the peak figure at 2.2B units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, geometrical quantities electronic measurer imports reached $30.3B in 2022. The total import value increased at an average annual rate of +4.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 19% against the previous year. Global imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports By Country

In 2022, China (738M units) represented the largest importer of electronic instruments and machines for measuring geometrical quantities, creating 44% of total imports. It was distantly followed by Hong Kong SAR (161M units), India (113M units) and Mexico (77M units), together committing a 21% share of total imports. Singapore (69M units), the United States (60M units), Germany (40M units), Brazil (33M units) and Italy (27M units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to geometrical quantities electronic measurer imports into China stood at +17.7%. At the same time, India (+44.9%), Singapore (+35.9%), the United States (+33.4%), Italy (+25.1%), Germany (+12.3%), Hong Kong SAR (+12.2%), Mexico (+9.7%) and Brazil (+4.8%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of +44.9% from 2012-2022. While the share of China (+9.7 p.p.), India (+6.1 p.p.), Singapore (+3.4 p.p.) and the United States (+2.8 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Hong Kong SAR (-2.5 p.p.), Mexico (-2.7 p.p.) and Brazil (-2.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest geometrical quantities electronic measurer importing markets worldwide were China ($6.1B), the United States ($3.1B) and Singapore ($2.2B), together comprising 37% of global imports.

Singapore, with a CAGR of +28.0%, recorded the highest rates of growth with regard to the value of imports, among 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

In 2022, the average geometrical quantities electronic measurer import price amounted to $18 per unit, with an increase of 24% against the previous year. In general, the import price, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2017 when the average import price increased by 44% against the previous year. Global import price peaked at $46 per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($51 per unit), while Hong Kong SAR ($2.4 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (-4.0%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Electronic Instruments And Machines For Measuring Geometrical Quantities

In 2022, shipments abroad of electronic instruments and machines for measuring geometrical quantities decreased by -21% to 1.2B units, falling for the second consecutive year after three years of growth. In general, exports, however, showed resilient growth. The pace of growth was the most pronounced in 2018 when exports increased by 206%. The global exports peaked at 1.9B units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, geometrical quantities electronic measurer exports contracted modestly to $24.8B in 2022. The total export value increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 21% against the previous year. As a result, the exports attained the peak of $25.8B, and then shrank slightly in the following year.

Exports By Country

China was the major exporter of electronic instruments and machines for measuring geometrical quantities in the world, with the volume of exports reaching 592M units, which was near 48% of total exports in 2022. Hong Kong SAR (264M units) held the second position in the ranking, distantly followed by Singapore (148M units), Germany (70M units) and Mexico (58M units). All these countries together took approx. 44% share of total exports.

Exports from China increased at an average annual rate of +9.9% from 2012 to 2022. At the same time, Hong Kong SAR (+37.9%), Mexico (+34.9%), Germany (+30.7%) and Singapore (+27.5%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing exporter exported in the world, with a CAGR of +37.9% from 2012-2022. While the share of Hong Kong SAR (+18 p.p.), Singapore (+7.7 p.p.), Germany (+4.1 p.p.) and Mexico (+3.7 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of China (-30.1 p.p.) displayed negative dynamics.

In value terms, the largest geometrical quantities electronic measurer supplying countries worldwide were Germany ($4.4B), China ($3.6B) and Singapore ($632M), together comprising 35% of global exports.

Among the main exporting countries, China, with a CAGR of +9.9%, 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 geometrical quantities electronic measurer export price stood at $20 per unit in 2022, with an increase of 22% against the previous year. Overall, the export price, however, faced a abrupt descent. The growth pace was the most rapid in 2015 an increase of 84%. As a result, the export price reached the peak level of $77 per unit. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($63 per unit), while Hong Kong SAR ($2.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.1%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform