United Kingdom: Direction Finding Compass Market 2024

Direction Finding Compass Market Size in the UK

The UK direction finding compass market expanded sharply to $X in 2022, surging by X% against the previous year. In general, consumption continues to indicate buoyant growth. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Direction Finding Compass Production in the UK

In value terms, direction finding compass production reduced modestly to $X in 2022 estimated in export price. Overall, production, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

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Direction Finding Compass Exports

Exports from the UK

In 2022, approx. X units of direction finding compasses were exported from the UK; which is down by X% on 2021. In general, exports continue to indicate a precipitous curtailment. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, direction finding compass exports surged to $X in 2022. Overall, exports continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units), the Netherlands (X units) and Singapore (X units) were the main destinations of direction finding compass exports from the UK, together comprising X% of total exports. Finland, China, Canada, Spain, Belgium, Germany, South Korea, France, Brazil and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

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

In value terms, the United States ($X) remains the key foreign market for direction finding compasses exports from the UK, comprising X% of total exports. The second position in the ranking was held by South Korea ($X), with an X% share of total exports. It was followed by Germany, with an X% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Germany (X% per year).

Export Prices by Country

In 2022, the average direction finding compass export price amounted to $X per unit, picking up by X% against the previous year. Over the period under review, the export price showed significant growth. The growth pace was the most rapid in 2014 an increase of X%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to Finland ($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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Direction Finding Compass Imports

Imports into the UK

In 2022, purchases abroad of direction finding compasses was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, saw a abrupt descent. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, direction finding compass imports skyrocketed to $X in 2022. Over the period under review, imports, however, showed a noticeable decline. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of direction finding compass to the UK, accounting for a X% share of total imports. Moreover, direction finding compass imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold. The third position in this ranking was taken by France (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and France (X% per year).

In value terms, France ($X), the United States ($X) and China ($X) were the largest direction finding compass suppliers to the UK, with a combined X% share of total imports.

France, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average direction finding compass import price amounted to $X per unit, reducing by X% against the previous year. Overall, the import price, however, showed slight growth. The pace of growth was the most pronounced in 2016 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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