U.S.: Optical Radiation Instruments Market 2024

Optical Radiation Instruments Market Size in the U.S.

The U.S. optical radiation instruments market reduced modestly to $X.8B in 2022, flattening at the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X.9B. From 2015 to 2022, the growth of the market remained at a lower figure.

Optical Radiation Instruments Production in the U.S.

In value terms, optical radiation instruments production shrank modestly to $X.3B in 2022. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. As a result, production reached the peak level of $X.8B. From 2015 to 2022, production growth remained at a lower figure.

Optical Radiation Instruments Exports

Exports from the U.S.

In 2022, shipments abroad of instruments using optical radiations increased by X% to X units, rising for the fifth year in a row after two years of decline. In general, exports, however, recorded a perceptible downturn. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, optical radiation instruments exports stood at $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Canada (X units) was the main destination for optical radiation instruments exports from the United States, with a X% share of total exports. Moreover, optical radiation instruments exports to Canada exceeded the volume sent to the second major destination, China (X units), fivefold. Brazil (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Canada stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Brazil (X% per year).

In value terms, the largest markets for optical radiation instruments exported from the United States were China ($X), Germany ($X) and the Netherlands ($X), with a combined X% share of total exports. Canada, Japan, Singapore, South Korea, the UK, Brazil, France, India, Mexico and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Singapore, with a CAGR of X%, 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

The average optical radiation instruments export price stood at $X per unit in 2022, falling by X% against the previous year. Overall, export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, optical radiation instruments export price decreased by X% against 2017 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

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 ($X per unit), while the average price for exports to Canada ($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 South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Optical Radiation Instruments Imports

Imports into the U.S.

After two years of growth, supplies from abroad of instruments using optical radiations decreased by X% to X units in 2022. Over the period under review, imports, however, posted measured growth. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, optical radiation instruments imports expanded to $X in 2022. Overall, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2012 indices. The pace of growth was the most pronounced in 2020 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest supplier of optical radiation instruments to the United States, accounting for a X% share of total imports. Moreover, optical radiation instruments imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. Germany (X units) ranked third in terms of total imports with a X% share.

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

In value terms, Japan ($X), Germany ($X) and the UK ($X) were the largest optical radiation instruments suppliers to the United States, with a combined X% share of total imports. Sweden, China, Canada, Estonia, Israel, Mexico, Malaysia, the Dominican Republic, Vietnam and Indonesia lagged somewhat behind, together accounting for a further X%.

The Dominican Republic, with a CAGR of X%, saw the highest growth rate of 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 optical radiation instruments import price amounted to $X per unit, surging by X% against the previous year. In general, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, optical radiation instruments import price increased by X% against 2017 indices. The pace of growth appeared the most rapid in 2019 when the average import price increased by X%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

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

Source: IndexBox Platform

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