World - Instruments Using Optical Radiations - Market Analysis, Forecast, Size, Trends And Insights
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View PricingOptical Radiation Instruments Market
The article discusses the global market trends for instruments using optical radiations, forecasting a growth in both consumption and value terms. Consumption saw a decrease in 2022 after two years of growth, but is expected to rebound. China leads in both consumption and production of optical radiation instruments, with significant growth rates. Imports and exports of these instruments also show notable growth patterns. Price variations and growth rates are analyzed for different countries involved in the market.
Market Forecast
Driven by increasing demand for instruments using optical radiations 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 +4.4% for the period from 2022 to 2030, which is projected to bring the market volume to 68M units by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +7.2% for the period from 2022 to 2030, which is projected to bring the market value to $182.8B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Instruments Using Optical Radiations
After two years of growth, consumption of instruments using optical radiations decreased by -30.5% to 48M units in 2022. Over the period under review, consumption, however, saw prominent growth. Over the period under review, global consumption attained the peak volume at 69M units in 2021, and then shrank rapidly in the following year.
The global optical radiation instruments market revenue fell significantly to $104.5B in 2022, which is down by -30.7% 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). Overall, consumption, however, showed buoyant growth. Global consumption peaked at $150.9B in 2021, and then fell rapidly in the following year.
Consumption By Country
The country with the largest volume of optical radiation instruments consumption was China (31M units), accounting for 65% of total volume. Moreover, optical radiation instruments consumption in China exceeded the figures recorded by the second-largest consumer, the United States (2.3M units), more than tenfold. The third position in this ranking was taken by India (2M units), with a 4.2% share.
From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to +38.8%. The remaining consuming countries recorded the following average annual rates of consumption growth: the United States (+6.9% per year) and India (+14.7% per year).
In value terms, China ($67.8B) led the market, alone. The second position in the ranking was taken by Japan ($10.6B). It was followed by Russia.
In China, the optical radiation instruments market increased at an average annual rate of +37.8% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: Japan (+11.4% per year) and Russia (+10.0% per year).
The countries with the highest levels of optical radiation instruments per capita consumption in 2022 were Canada (49 units per 1000 persons), Taiwan (Chinese) (33 units per 1000 persons) and China (22 units per 1000 persons).
From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by China (with a CAGR of +38.8%), while consumption for the other global leaders experienced more modest paces of growth.
Production
World Production of Instruments Using Optical Radiations
In 2022, global production of instruments using optical radiations amounted to 13M units, increasing by 6% on 2021 figures. Over the period under review, production continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2021 when the production volume increased by 42%. Global production peaked in 2022 and is expected to retain growth in years to come.
In value terms, optical radiation instruments production contracted modestly to $28.6B in 2022 estimated in export price. Overall, production posted a strong increase. The growth pace was the most rapid in 2017 with an increase of 31%. Over the period under review, global production hit record highs at $30.7B in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.
Production By Country
Mexico (4.7M units) constituted the country with the largest volume of optical radiation instruments production, accounting for 35% of total volume. Moreover, optical radiation instruments production in Mexico exceeded the figures recorded by the second-largest producer, India (1.6M units), threefold. The third position in this ranking was taken by Russia (971K units), with a 7.2% share.
From 2012 to 2022, the average annual growth rate of volume in Mexico stood at +37.7%. In the other countries, the average annual rates were as follows: India (+12.2% per year) and Russia (+10.4% per year).
Imports
World Imports of Instruments Using Optical Radiations
After two years of growth, purchases abroad of instruments using optical radiations decreased by -25.9% to 55M units in 2022. Over the period under review, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 194% against the previous year. Global imports peaked at 74M units in 2021, and then dropped rapidly in the following year.
In value terms, optical radiation instruments imports reached $11.9B in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.7% 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 +91.2% against 2012 indices. The most prominent rate of growth was recorded in 2018 with an increase of 15%. Global imports peaked in 2022 and are expected to retain growth in years to come.
Imports By Country
China prevails in imports structure, recording 44M units, which was near 79% of total imports in 2022. It was distantly followed by the United States (3.4M units), making up a 6.1% share of total imports. Canada (2M units) and Brazil (0.9M units) took a relatively small share of total imports.
China was also the fastest-growing in terms of the instruments using optical radiations imports, with a CAGR of +45.0% from 2012 to 2022. At the same time, Canada (+26.2%), Brazil (+1.9%) and the United States (+1.6%) displayed positive paces of growth. From 2012 to 2022, the share of China increased by +65 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the largest optical radiation instruments importing markets worldwide were China ($2.3B), the United States ($1.7B) and Canada ($326M), with a combined 36% share of global imports.
China, with a CAGR of +9.5%, 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
In 2022, the average optical radiation instruments import price amounted to $216 per unit, growing by 37% against the previous year. Overall, the import price, however, recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2019 when the average import price increased by 54%. Global import price peaked at $839 per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($490 per unit), while China ($52 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 (+4.1%), while the other global leaders experienced a decline in the import price figures.
Exports
World Exports of Instruments Using Optical Radiations
For the third year in a row, the global market recorded growth in shipments abroad of instruments using optical radiations, which increased by 14% to 21M units in 2022. Overall, exports recorded a buoyant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 311%. The global exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, optical radiation instruments exports expanded to $11.7B in 2022. Over the period under review, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.3% 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 +70.2% against 2014 indices. The most prominent rate of growth was recorded in 2021 with an increase of 14% against the previous year. Over the period under review, the global exports reached the peak figure in 2022 and are expected to retain growth in the near future.
Exports By Country
China was the main exporting country with an export of about 13M units, which recorded 62% of total exports. It was distantly followed by Mexico (4.3M units) and the United States (1.1M units), together making up a 26% share of total exports. The following exporters - Germany (559K units) and Thailand (343K units) - together made up 4.3% of total exports.
Exports from China increased at an average annual rate of +18.3% from 2012 to 2022. At the same time, Thailand (+76.6%), Mexico (+40.5%) and Germany (+11.0%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of +76.6% from 2012-2022. By contrast, the United States (-4.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mexico, China and Thailand increased by +18, +17 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the United States ($3B), Germany ($1.8B) and China ($566M) were the countries with the highest levels of exports in 2022, together accounting for 45% of global exports.
China, with a CAGR of +24.1%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Export Prices By Country
The average optical radiation instruments export price stood at $566 per unit in 2022, shrinking by -10.3% against the previous year. Overall, the export price continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2015 when the average export price increased by 127%. The global export price peaked at $3,806 per unit in 2016; however, from 2017 to 2022, the 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 Germany ($3,153 per unit), while Mexico ($2.7 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 (+8.2%), while the other global leaders experienced mixed trends in the export price figures.
This report provides an in-depth analysis of the global optical radiation instruments market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 26515350 - Instruments and apparatus using optical radiations, n.e.c.
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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