Measuring Instrument Market in the United States
Market Overview
The U.S. measuring instrument market was finally on the rise to reach $
in , after two years of decline. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $ in 2018; however, from 2019 to , consumption remained at a lower figure.
In value terms, measuring instrument production stood at $ in . Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by % against the previous year. As a result, production reached the peak level of $. From 2019 to , production growth remained at a somewhat lower figure.
in , after two years of decline. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $ in 2018; however, from 2019 to , consumption remained at a lower figure.In value terms, measuring instrument production stood at $
in . Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by % against the previous year. As a result, production reached the peak level of $. From 2019 to , production growth remained at a somewhat lower figure.Consumption
In , consumption of instruments and related products for measuring, displaying, and controlling industrial process variables was finally on the rise to reach units after two years of decline. Overall, consumption, however, showed a mild setback. The most prominent rate of growth was recorded in 2016 with an increase of %. Measuring instrument consumption peaked at units in 2018; however, from 2019 to , consumption remained at a lower figure.
The revenue of the measuring instrument market in the United States amounted to $ in , rising by % 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). In general, consumption, however, showed a relatively flat trend pattern. Measuring instrument consumption peaked at $ in 2018; however, from 2019 to , consumption failed to regain momentum.
, consumption of instruments and related products for measuring, displaying, and controlling industrial process variables was finally on the rise to reach units after two years of decline. Overall, consumption, however, showed a mild setback. The most prominent rate of growth was recorded in 2016 with an increase of %. Measuring instrument consumption peaked at units in 2018; however, from 2019 to , consumption remained at a lower figure.The revenue of the measuring instrument market in the United States amounted to $
in , rising by % 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). In general, consumption, however, showed a relatively flat trend pattern. Measuring instrument consumption peaked at $ in 2018; however, from 2019 to , consumption failed to regain momentum.Market Forecast
Depressed by shrinking demand for measuring instrument in the United States, the market is expected to continue its downward consumption trend over the next decade. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to units by the end of .
% for the period from to , which is projected to depress the market volume to units by the end of .Market Structure
Measuring instrument market in the United States consists almost entirely of imported products.
Trade Balance
The United States remains a net importer of measuring instrument; in physical and value terms, imports consistently exceeded exports from 2013 to . In , there was a significant trade deficit of units, which was equal to $-. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of units, which was equal to $-. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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