Particle Accelerator Market

The article discusses the growing demand for particle accelerators globally, with market performance expected to rise at a CAGR of +4.6% from 2022 to 2030. Despite a decrease in consumption in 2022, overall consumption has seen growth. The United States, India, and Finland were the top consuming countries in 2022. The production of particle accelerators has also increased, with Finland being the largest producer. Imports and exports of particle accelerators have shown fluctuations, with the United States and India being key importers. Finland and Romania dominate the exports market. Prices for imports and exports have varied by country, with Belgium having the highest export price. Overall, the global particle accelerator market is expected to continue growing in the coming years.

Market Forecast

Driven by increasing demand for particle accelerators worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +4.6% for the period from 2022 to 2030, which is projected to bring the market volume to 2.8M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of -3.1% for the period from 2022 to 2030, which is projected to bring the market value to $3.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Particle Accelerators

After four years of growth, consumption of particle accelerators decreased by -28.3% to 2M units in 2022. Overall, consumption, however, saw tangible growth. Over the period under review, global consumption hit record highs at 2.7M units in 2021, and then shrank rapidly in the following year.

The global particle accelerator market size soared to $4.3B in 2022, with an increase of 102% 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 faced a dramatic curtailment. Global consumption peaked at $40.6B in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (504K units), India (377K units) and Finland (253K units), with a combined 58% share of global consumption.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +82.7%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest particle accelerator markets worldwide were Hong Kong SAR ($1.5B), India ($973M) and Finland ($530M), with a combined 70% share of the global market.

In terms of the main consuming countries, India, with a CAGR of +79.6%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of particle accelerator per capita consumption in 2022 were Finland (46 units per 1000 persons), Singapore (33 units per 1000 persons) and Hong Kong SAR (7.3 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by India (with a CAGR of +80.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Particle Accelerators

For the fourth consecutive year, the global market recorded growth in production of particle accelerators, which increased by 0.7% to 1.4M units in 2022. Over the period under review, the total production indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +40.4% against 2018 indices. The growth pace was the most rapid in 2015 when the production volume increased by 41% against the previous year. As a result, production attained the peak volume of 1.5M units. From 2016 to 2022, global production growth failed to regain momentum.

In value terms, particle accelerator production contracted to $21.4B in 2022 estimated in export price. Overall, production, however, faced a drastic downturn. The growth pace was the most rapid in 2015 when the production volume increased by 318%. As a result, production attained the peak level of $79.1B. From 2016 to 2022, global production growth remained at a lower figure.

Production By Country

Finland (745K units) remains the largest particle accelerator producing country worldwide, comprising approx. 52% of total volume. Moreover, particle accelerator production in Finland exceeded the figures recorded by the second-largest producer, Romania (367K units), twofold. The third position in this ranking was taken by Russia (199K units), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Finland was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: Romania (-0.9% per year) and Russia (+0.1% per year).

Imports

World Imports of Particle Accelerators

In 2022, the amount of particle accelerators imported worldwide contracted markedly to 1.5M units, reducing by -27.3% against the previous year's figure. Over the period under review, imports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 127%. Global imports peaked at 2.1M units in 2021, and then reduced remarkably in the following year.

In value terms, particle accelerator imports surged to $295M in 2022. Overall, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +67.2% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, the United States (506K units) and India (377K units) represented the key importers of particle acceleratorsin the world, together amounting to approx. 59% of total imports. Thailand (220K units) held a 15% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (13%). Hong Kong SAR (55K units), Malaysia (48K units) and the Philippines (43K units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +77.8%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($54M) constitutes the largest market for imported particle accelerators worldwide, comprising 18% of global imports. The second position in the ranking was held by Hong Kong SAR ($9.6M), with a 3.3% share of global imports. It was followed by Thailand, with a 2.4% share.

In the United States, particle accelerator imports expanded at an average annual rate of +17.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Hong Kong SAR (+17.5% per year) and Thailand (+2.2% per year).

Import Prices By Country

In 2022, the average particle accelerator import price amounted to $195 per unit, surging by 107% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2016 an increase of 148% against the previous year. Over the period under review, average import prices reached the maximum at $869 per unit in 2013; however, from 2014 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 Hong Kong SAR ($175 per unit), while Singapore ($3.7 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+15.9%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Particle Accelerators

In 2022, approx. 979K units of particle accelerators were exported worldwide; increasing by 28% compared with the year before. Over the period under review, exports posted a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 889% 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 immediate term.

In value terms, particle accelerator exports expanded markedly to $268M in 2022. In general, total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.6% 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 +26.0% against 2017 indices. The growth pace was the most rapid in 2017 when exports increased by 52%. The global exports peaked in 2022 and are likely to continue growth in years to come.

Exports By Country

Finland (492K units) and Romania (358K units) prevails in exports structure, together comprising 87% of total exports. It was distantly followed by Malaysia (60K units), making up a 6.1% share of total exports. Belgium (22K units) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Romania (with a CAGR of +195.8%), while the other global leaders experienced more modest paces of growth.

In value terms, Belgium ($67M) remains the largest particle accelerator supplier worldwide, comprising 25% of global exports. The second position in the ranking was held by Malaysia ($21M), with a 7.7% share of global exports. It was followed by Finland, with a 1.1% share.

In Belgium, particle accelerator exports increased at an average annual rate of +28.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+44.2% per year) and Finland (+29.0% per year).

Export Prices By Country

The average particle accelerator export price stood at $274 per unit in 2022, which is down by -17.7% against the previous year. Overall, the export price recorded a sharp downturn. The pace of growth appeared the most rapid in 2016 when the average export price increased by 329% against the previous year. The global export price peaked at $3,135 per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Belgium ($3,032 per unit), while Romania ($2.3 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (-9.1%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform