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World - Test Benches - Market Analysis, Forecast, Size, Trends And Insights
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The global test bench market is projected to experience growth in consumption, production, imports, and exports from 2022 to 2030. Consumption decreased in 2022 but is expected to rise over the forecast period. Production and imports also showed fluctuations but displayed overall growth trends. The United States and China are key players in the market, with notable export and import activities. Detailed insights on consumption, production, imports, and exports provided for various countries and regions.
Market Forecast
Driven by increasing demand for test benches worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.2% for the period from 2022 to 2030, which is projected to bring the market volume to 1.2M units by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +3.3% for the period from 2022 to 2030, which is projected to bring the market value to $8.8B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Test Benches
In 2022, consumption of test benches decreased by -5.5% to 1.1M units, falling for the second consecutive year after five years of growth. In general, the total consumption indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -15.4% against 2020 indices. Global consumption peaked at 1.3M units in 2020; however, from 2021 to 2022, consumption remained at a lower figure.
The global test bench market size declined to $6.8B in 2022, with a decrease of -12.1% 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). Overall, consumption recorded a noticeable curtailment. Over the period under review, the global market hit record highs at $8.5B in 2020; however, from 2021 to 2022, consumption remained at a lower figure.
Consumption By Country
China (205K units) remains the largest test bench consuming country worldwide, comprising approx. 18% of total volume. Moreover, test bench consumption in China exceeded the figures recorded by the second-largest consumer, India (72K units), threefold. The third position in this ranking was held by the United States (54K units), with a 4.8% share.
From 2012 to 2022, the average annual growth rate of volume in China stood at +2.5%. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+0.1% per year) and the United States (-11.9% per year).
In value terms, China ($842M), Russia ($669M) and Germany ($585M) appeared to be the countries with the highest levels of market value in 2022, with a combined 31% share of the global market. The United States, India, Mexico, Japan, Brazil, France, Turkey, Bangladesh, the Philippines and Egypt lagged somewhat behind, together accounting for a further 25%.
The Philippines, with a CAGR of +40.9%, recorded the highest rates of growth with regard to market size among the main consuming countries 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 test bench per capita consumption in 2022 were France (535 units per million persons), Germany (362 units per million persons) and Japan (324 units per million persons).
From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +37.5%), while consumption for the other global leaders experienced more modest paces of growth.
Production
World Production of Test Benches
In 2022, after five years of growth, there was decline in production of test benches, when its volume decreased by -1.5% to 1.3M units. In general, the total production indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +2.3% 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 +48.2% against 2016 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by 20%. Over the period under review, global production attained the peak volume at 1.4M units in 2021, and then shrank modestly in the following year.
In value terms, test bench production amounted to $7.2B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 16%. Global production peaked at $7.4B in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.
Production By Country
The countries with the highest volumes of production in 2022 were the United States (234K units), China (226K units) and India (101K units), with a combined 42% share of global production. France, Germany, Japan, Russia, Bangladesh, Mexico, Turkey, the UK, South Africa and Brazil lagged somewhat behind, together comprising a further 27%.
From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Mexico (with a CAGR of +23.5%), while production for the other global leaders experienced more modest paces of growth.
Imports
World Imports of Test Benches
In 2022, purchases abroad of test benches decreased by -4.8% to 226K units, falling for the third year in a row after four years of growth. Overall, imports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 47% against the previous year. Global imports peaked at 365K units in 2019; however, from 2020 to 2022, imports failed to regain momentum.
In value terms, test bench imports declined notably to $1.2B in 2022. In general, imports saw a mild decrease. The most prominent rate of growth was recorded in 2017 with an increase of 12%. Global imports peaked at $1.7B in 2018; however, from 2019 to 2022, imports failed to regain momentum.
Imports By Country
In 2022, the United States (48K units), distantly followed by Brazil (30K units), the Philippines (25K units), Egypt (21K units) and Mexico (16K units) represented the major importers of test benches, together comprising 62% of total imports. Singapore (7.6K units), Tunisia (6.3K units), the UK (5.6K units), Germany (5.6K units) and Italy (4.7K units) followed a long way behind the leaders.
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Egypt (with a CAGR of +40.3%), while imports for the other global leaders experienced more modest paces of growth.
In value terms, the largest test bench importing markets worldwide were the United States ($85M), Germany ($56M) and Italy ($46M), with a combined 16% share of global imports. The UK, Brazil, Mexico, Singapore, Tunisia, the Philippines and Egypt lagged somewhat behind, together comprising a further 11%.
The Philippines, with a CAGR of +11.3%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.
Import Prices By Country
The average test bench import price stood at $5,239 per unit in 2022, reducing by -18.1% against the previous year. In general, the import price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2021 an increase of 38%. Global import price peaked at $14,353 per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($9,913 per unit), while the Philippines ($179 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+2.4%), while the other global leaders experienced a decline in the import price figures.
Exports
World Exports of Test Benches
Global test bench exports was estimated at 450K units in 2022, picking up by 7.8% on 2021. Over the period under review, total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.1% 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 +51.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 40% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in the immediate term.
In value terms, test bench exports reduced dramatically to $1.6B in 2022. Overall, exports, however, continue to indicate a mild curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by 14%. Over the period under review, the global exports hit record highs at $2.1B in 2018; however, from 2019 to 2022, the exports failed to regain momentum.
Exports By Country
The United States prevails in exports structure, finishing at 228K units, which was near 51% of total exports in 2022. India (30K units) held the second position in the ranking, followed by France (26K units), Germany (25K units) and China (24K units). All these countries together took near 23% share of total exports. Mexico (12K units), South Africa (10K units), the UK (9.9K units), Italy (9.3K units), the Czech Republic (7.6K units), Austria (7.4K units), Japan (7.1K units) and Brazil (6.9K units) took a little share of total exports.
Exports from the United States increased at an average annual rate of +26.7% from 2012 to 2022. At the same time, India (+66.1%), South Africa (+25.2%), Mexico (+23.5%), the Czech Republic (+7.3%) and Brazil (+3.8%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in the world, with a CAGR of +66.1% from 2012-2022. Italy experienced a relatively flat trend pattern. By contrast, Austria (-1.5%), France (-3.4%), China (-4.0%), Germany (-4.1%), the UK (-7.4%) and Japan (-13.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United States, India, Mexico and South Africa increased by +43, +6.6, +2.1 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Germany ($427M) remains the largest test bench supplier worldwide, comprising 27% of global exports. The second position in the ranking was held by Italy ($174M), with an 11% share of global exports. It was followed by Austria, with a 10% share.
From 2012 to 2022, the average annual growth rate of value in Germany amounted to -4.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Italy (-0.1% per year) and Austria (-0.2% per year).
Export Prices By Country
In 2022, the average test bench export price amounted to $3,460 per unit, waning by -28.2% against the previous year. Over the period under review, the export price saw a abrupt setback. The most prominent rate of growth was recorded in 2016 an increase of 8.4%. As a result, the export price reached the peak level of $6,939 per unit. From 2017 to 2022, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Austria ($21,589 per unit), while South Africa ($77 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.4%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global test bench market. 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 26516620 - Test benches
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- 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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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