Instruments and meters are instruments or equipment used to detect, measure, observe, and calculate various physical quantities, material components, physical parameters, etc. Vacuum leak detectors, pressure gauges, length gauges, microscopes, multipliers, etc. are all instruments and meters.

After ten years of development, a few products in China's instrument and meter industry have approached or reached the current international level, and many products have independent intellectual property rights. The variety series of industrial automation instruments and control systems is relatively complete, greatly improving the supporting capacity for national key large-scale projects.

Statistical Analysis of the Development of Chinese Instrument and Meter Manufacturing Enterprises

In 2017, the number of instruments and meters manufacturing enterprises above designated size in China reached 4358, with 497 enterprises experiencing losses, with an average loss of 7.344 million yuan.

Development of Chinese instrument manufacturing enterprises from 2012 to 2017. Data source: organized by the Prospective Industry Research Institute.

Statistical Analysis of the Operation of China's Instrument and Meter Manufacturing Industry

According to the "Development Prospects and Investment Forecast Analysis Report of the Electrical Instrument and Meter Industry" released by the Prospective Industry Research Institute, the total annual output value of China's instrument and meter manufacturing industry in 2017 was 999.50 billion yuan, with a year-on-year increase of 2.60%; The total assets are 927.1 billion yuan, with an annual sales revenue of 955.84 billion yuan, a year-on-year increase of 2.17% in sales revenue; The total annual profit was 86.91 billion yuan, with a year-on-year increase of 9.97%.

Business performance of China's instrument manufacturing industry from 2012 to 2017. Data source: organized by the Prospective Industry Research Institute.

Analysis and Prediction of Sales Revenue in China's Instrument and Meter Manufacturing Industry

Based on the current development of China's industrial machinery industry, it is expected that the instrument and meter manufacturing industry will show a stable upward trend. It is predicted that the sales revenue of China's instrument and meter manufacturing industry will reach 1073.1 billion yuan in 2020, and by 2024, the sales revenue of China's instrument and meter manufacturing industry will rise to 1288.26 billion yuan.

Forecast the sales revenue of China's instrument and meter manufacturing industry from 2018 to 2024. Data source: organized by the Prospective Industry Research Institute.

The import and export growth rate of the instrument and meter industry is huge

Due to various factors such as macroeconomic regulation, exchange rate fluctuations, and domestic industrial development, the import and export trade market of instrument products in China has experienced significant fluctuations. From the perspective of the import and export volume of instruments and meters in China in 2017, both the total import and export volume have maintained an upward trend. From January to December 2017, the cumulative import volume of the instrument and meter industry in 31 provinces and cities across the country reached 66.52 billion US dollars, an increase of 47.97%; During the same period, the cumulative total export value of the instrument and meter industry in 31 provinces and cities across the country was 43.871 billion US dollars, an increase of 27.15%.

The significant increase in import and export of China's instrument and meter industry reflects the strength of its development and proves that the improvement of instrument and meter production technology has led to a rapid increase in China's export scale. On the other hand, the increase in instrument and meter import volume in China indicates that while maintaining high-speed and stable economic development, the development of the industrial machinery industry is a strong support and starting point. The increasingly widespread application of instruments and meters indicates that the depth of China's mechanical automation process is becoming higher and higher, and the process of transitioning from traditional mechanical processes to intelligent and high-end mechanical processes is becoming increasingly mature.