Market for Measuring And Controlling Device in the United States
Market Overview
In 
, after two years of growth, there was significant decline in the U.S. measuring and controlling device market, when its value decreased by -% to $. Over the period under review, consumption continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of % year-to-year. Measuring and controlling device consumption peaked at $ in 2019, and then fell in the following year.
In value terms, measuring and controlling device production expanded to $ in . The total output value increased at an average annual rate of +% over the period from 2013 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of % year-to-year. Over the period under review, production hit record highs at $ in 2018; however, from 2019 to , production failed to regain the momentum.
, after two years of growth, there was significant decline in the U.S. measuring and controlling device market, when its value decreased by -% to $. Over the period under review, consumption continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of % year-to-year. Measuring and controlling device consumption peaked at $ in 2019, and then fell in the following year.In value terms, measuring and controlling device production expanded to $
in . The total output value increased at an average annual rate of +% over the period from 2013 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of % year-to-year. Over the period under review, production hit record highs at $ in 2018; however, from 2019 to , production failed to regain the momentum.Consumption
For the fifth consecutive year, United States recorded growth in consumption of other measuring and controlling devices, which increased by % to units in . Over the period under review, the total consumption indicated a resilient expansion from 2013 to : its volume increased at an average annual rate of +% over the last seven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2014 indices. The most prominent rate of growth was recorded in 2014 with an increase of % against the previous year. Over the period under review, consumption reached the maximum volume in and is likely to continue growth in the immediate term.
The revenue of the measuring and controlling device market in United States declined to $ in , shrinking 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 recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the market value increased by % year-to-year. Over the period under review, the market hit record highs at $ in 2019, and then declined in the following year.
% to units in . Over the period under review, the total consumption indicated a resilient expansion from 2013 to : its volume increased at an average annual rate of +% over the last seven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2014 indices. The most prominent rate of growth was recorded in 2014 with an increase of % against the previous year. Over the period under review, consumption reached the maximum volume in and is likely to continue growth in the immediate term.The revenue of the measuring and controlling device market in United States declined to $
in , shrinking 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 recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the market value increased by % year-to-year. Over the period under review, the market hit record highs at $ in 2019, and then declined in the following year.Market Forecast
Driven by increasing demand for measuring and controlling device in United States, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to units by the end of .
% for the period from to , which is projected to bring the market volume to units by the end of .Market Structure
Measuring and controlling device market in United States remained dependent on supplies from foreign countries. In , the share of imports in total consumption was % in value terms and % in physical terms.
, the share of imports in total consumption was % in value terms and % in physical terms.Trade Balance
United States remains a net importer of measuring and controlling device; 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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