ASEAN: Personal Weighing Machine Market 2024

Personal Weighing Machine Market Size in ASEAN

The ASEAN personal weighing machine market shrank to $X in 2022, reducing by -3.2% against the previous year. In general, consumption showed a slight slump. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Personal Weighing Machine Production in ASEAN

In value terms, personal weighing machine production reached $X in 2022 estimated in export price. In general, production, however, recorded a perceptible slump. The pace of growth appeared the most rapid in 2017 with an increase of 21% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Personal Weighing Machine Exports

Exports in ASEAN

Personal weighing machine exports reached X units in 2022, growing by 3.4% against 2021 figures. Overall, exports continue to indicate a perceptible increase. The most prominent rate of growth was recorded in 2014 with an increase of 101%. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, personal weighing machine exports skyrocketed to $X in 2022. Total exports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.9% 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 +34.9% against 2020 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 38% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Singapore prevails in exports structure, resulting at X units, which was near 88% of total exports in 2022. It was distantly followed by Vietnam (X units), committing a 5.4% share of total exports. The following exporters - Malaysia (X units) and Indonesia (X units) - each recorded a 4% share of total exports.

Singapore was also the fastest-growing in terms of the personal weighing machines exports, with a CAGR of +5.7% from 2012 to 2022. Indonesia (-1.2%), Vietnam (-5.8%) and Malaysia (-8.0%) illustrated a downward trend over the same period. Singapore (+16 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia and Vietnam saw its share reduced by -5.3% and -8.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest personal weighing machine supplier in ASEAN, comprising 91% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 2.3% share of total exports. It was followed by Malaysia, with a 1.7% share.

In Singapore, personal weighing machine exports increased at an average annual rate of +5.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (-10.9% per year) and Malaysia (-1.1% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, with an increase of 16% against the previous year. Over the period under review, the export price, however, recorded a slight descent. The growth pace was the most rapid in 2015 an increase of 116% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+7.5%), while the other leaders experienced a decline in the export price figures.

Personal Weighing Machine Imports

Imports in ASEAN

In 2022, personal weighing machine imports in ASEAN dropped dramatically to X units, waning by -19.4% against 2021 figures. Over the period under review, imports, however, posted a pronounced expansion. The most prominent rate of growth was recorded in 2017 with an increase of 43%. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, personal weighing machine imports reduced sharply to $X in 2022. In general, imports, however, enjoyed moderate growth. The growth pace was the most rapid in 2017 with an increase of 156%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Malaysia (X units) and Singapore (X units) were the main importers of personal weighing machines in 2022, finishing at near 26% and 24% of total imports, respectively. The Philippines (X units) held the next position in the ranking, followed by Thailand (X units), Vietnam (X units), Indonesia (X units) and Myanmar (X units). All these countries together held near 49% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +33.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported personal weighing machines in ASEAN, comprising 32% of total imports. The second position in the ranking was held by Indonesia ($X), with a 16% share of total imports. It was followed by Malaysia, with a 15% share.

From 2012 to 2022, the average annual growth rate of value in Singapore stood at +4.8%. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (+2.1% per year) and Malaysia (+5.6% per year).

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2022, rising by 1.8% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 80%. As a result, import price attained the peak level of $X per unit. From 2018 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform