U.S.: Binocular Market 2022

Binocular Market Size in the U.S.

The U.S. binocular market skyrocketed to $X in 2021, with an increase of 49% against the previous year. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Binocular Production in the U.S.

In value terms, binocular production fell remarkably to $X in 2021. In general, production continues to indicate a dramatic contraction. Over the period under review, production hit record highs at $X in 2020, and then shrank sharply in the following year.

Binocular Exports

Exports from the U.S.

In 2021, shipments abroad of binoculars was finally on the rise to reach X units after two years of decline. Overall, total exports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 32%. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, binocular exports expanded markedly to $X in 2021. Over the period under review, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 88% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Canada (X units) was the main destination for binocular exports from the United States, with a 41% share of total exports. Moreover, binocular exports to Canada exceeded the volume sent to the second major destination, South Africa (X units), sixfold. New Zealand (X units) ranked third in terms of total exports with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume to Canada stood at +4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+44.5% per year) and New Zealand (+16.8% per year).

In value terms, Saudi Arabia ($X) emerged as the key foreign market for binocular exports from the United States, comprising 36% of total exports. The second position in the ranking was held by Canada ($X), with a 12% share of total exports. It was followed by Australia, with a 9.9% share.

From 2012 to 2021, the average annual growth rate of value to Saudi Arabia stood at +50.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+5.3% per year) and Australia (+13.7% per year).

Export Prices by Country

The average binocular export price stood at $X per unit in 2021, falling by -7.6% against the previous year. Overall, export price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, binocular export price decreased by -36.1% against 2018 indices. The pace of growth was the most pronounced in 2013 an increase of 43% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to Chile ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+17.2%), while the prices for the other major destinations experienced more modest paces of growth.

Binocular Imports

Imports into the U.S.

In 2021, supplies from abroad of binoculars was finally on the rise to reach X units after two years of decline. Overall, imports, however, continue to indicate a noticeable setback. Imports peaked at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, binocular imports soared to $X in 2021. The total import value increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) was the main binocular supplier to the United States, accounting for a 94% share of total imports. It was followed by the Philippines (X units), with a 2.3% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -3.4%.

In value terms, China ($X) constituted the largest supplier of binocular to the United States, comprising 61% of total imports. The second position in the ranking was held by the Philippines ($X), with a 6.2% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +5.2%.

Import Prices by Country

The average binocular import price stood at $X per unit in 2021, picking up by 11% against the previous year. Over the period under review, import price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, binocular import price increased by +100.6% against 2013 indices. The pace of growth was the most pronounced in 2014 an increase of 15% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is likely to continue growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was the Philippines ($X per unit), while the price for China stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.9%).

Source: IndexBox Market Intelligence Platform

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