Report U.S. - Multimeters - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update: Sep 1, 2023

U.S. - Multimeters - Market Analysis, Forecast, Size, Trends and Insights

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U.S.: Multimeter Market 2023

Multimeter Market Size in the U.S.

For the third consecutive year, the U.S. multimeter market recorded growth in sales value, which increased by 22% to $X in 2022. Overall, consumption, however, enjoyed a remarkable increase. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in years to come.

Multimeter Production in the U.S.

In value terms, multimeter production reached $X in 2022. In general, production, however, enjoyed buoyant growth. The growth pace was the most rapid in 2017 with an increase of 88%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Multimeter Exports

Exports from the U.S.

Multimeter exports from the United States contracted markedly to X units in 2022, shrinking by -21.8% on the year before. Over the period under review, exports showed a deep contraction. The most prominent rate of growth was recorded in 2019 with an increase of 41% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, multimeter exports rose remarkably to $X in 2022. The total export value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when exports increased by 16% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Canada (X units), the Netherlands (X units) and Mexico (X units) were the main destinations of multimeter exports from the United States, with a combined 55% share of total exports. Australia, Brazil, Germany, India, the UK, China, Chile, Argentina, Singapore and South Korea lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +3.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for multimeter exported from the United States were Canada ($X), the Netherlands ($X) and China ($X), with a combined 50% share of total exports.

In terms of the main countries of destination, China, with a CAGR of +11.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average multimeter export price amounted to $X per unit, picking up by 39% against the previous year. Overall, the export price showed buoyant growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 107% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Argentina ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+34.8%), while the prices for the other major destinations experienced more modest paces of growth.

Multimeter Imports

Imports into the U.S.

In 2022, overseas purchases of multimeters decreased by -10.4% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, recorded a resilient expansion. The pace of growth was the most pronounced in 2016 with an increase of 57%. Imports peaked at X units in 2021, and then dropped in the following year.

In value terms, multimeter imports reached $X in 2022. Overall, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 +50.5% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 50%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest multimeter supplier to the United States, with a 68% share of total imports. Moreover, multimeter imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), sixfold. The third position in this ranking was held by South Korea (X units), with a 7.6% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+18.8% per year) and South Korea (+4.6% per year).

In value terms, China ($X) constituted the largest supplier of multimeters to the United States, comprising 46% of total imports. The second position in the ranking was held by Malaysia ($X), with a 16% share of total imports. It was followed by Taiwan (Chinese), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+16.2% per year) and Taiwan (Chinese) (+4.8% per year).

Import Prices by Country

In 2022, the average multimeter import price amounted to $X per unit, rising by 12% against the previous year. In general, the import price, however, showed a noticeable shrinkage. The pace of growth was the most pronounced in 2017 when the average import price increased by 18%. Over the period under review, average import prices reached the maximum at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Base Year Historical Period Forecast Period Units
2022 2012-2022 2023-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for multimeters in the world?
+
China constituted the country with the largest volume of multimeter consumption, accounting for 27% of total volume. Moreover, multimeter consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. The third position in this ranking was held by India, with a 9.5% share.
What are the leading suppliers of multimeters to the U.S.?
+
In value terms, China constituted the largest supplier of multimeters to the United States, comprising 46% of total imports. The second position in the ranking was held by Malaysia, with a 16% share of total imports. It was followed by Taiwan Chinese), with an 11% share.
What are the leading importers of multimeters from the U.S.?
+
In value terms, Canada, the Netherlands and China appeared to be the largest markets for multimeter exported from the United States worldwide, together accounting for 50% of total exports.
What is the average export price for multimeters in the U.S.?
+
The average multimeter export price stood at $174 per unit in 2022, surging by 39% against the previous year.
What is the average import price for multimeters in the U.S.?
+
In 2022, the average multimeter import price amounted to $33 per unit, surging by 12% against the previous year.

This report provides an in-depth analysis of the multimeter market in the U.S.. 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 26514310 - Multimeters
Country coverage:
• United States

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in the U.S.
• 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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2012-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2022
Figure 5:
Trade Balance, In Physical Terms, 2012-2022
Figure 6:
Trade Balance, In Value Terms, 2012-2022
Figure 7:
Per Capita Consumption, 2012-2022
Figure 8:
Market Volume Forecast to 2030
Figure 9:
Market Value Forecast to 2030
Figure 10:
Products: Market Size And Growth, By Type
Figure 11:
Products: Average Per Capita Consumption, By Type
Figure 12:
Products: Exports And Growth, By Type
Figure 13:
Products: Export Prices And Growth, By Type
Figure 14:
Production Volume And Growth
Figure 15:
Exports And Growth
Figure 16:
Export Prices And Growth
Figure 17:
Market Size And Growth
Figure 18:
Per Capita Consumption
Figure 19:
Imports And Growth
Figure 20:
Import Prices
Figure 21:
Production, In Physical Terms, 2012–2022
Figure 22:
Production, In Value Terms, 2012–2022
Figure 23:
Imports, In Physical Terms, 2012–2022
Figure 24:
Imports, In Value Terms, 2012–2022
Figure 25:
Imports, In Physical Terms, By Country, 2022
Figure 26:
Imports, In Physical Terms, By Country, 2012–2022
Figure 27:
Imports, In Value Terms, By Country, 2012–2022
Figure 28:
Import Prices, By Country Of Origin, 2012–2022
Figure 29:
Exports, In Physical Terms, 2012–2022
Figure 30:
Exports, In Value Terms, 2012–2022
Figure 31:
Exports, In Physical Terms, By Country, 2022
Figure 32:
Exports, In Physical Terms, By Country, 2012–2022
Figure 33:
Exports, In Value Terms, By Country, 2012–2022
Figure 34:
Export Prices, By Country Of Destination, 2012–2022
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