Asia: Gas Supply Meter Market 2024

Gas Supply Meter Market Size in Asia

The Asian gas supply meter market rose modestly to $X in 2021, growing by 4.6% against the previous year. Over the period under review, consumption continues to indicate a prominent expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Gas Supply Meter Production in Asia

In value terms, gas supply meter production reached $X in 2021 estimated in export price. In general, production, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2016 with an increase of 52% against the previous year. The level of production peaked at $X in 2019; afterwards, it flattened through to 2021.

Gas Supply Meter Exports

Exports in Asia

After five years of growth, overseas shipments of gas supply or production meters decreased by -8% to X units in 2021. In general, exports, however, showed a resilient increase. The pace of growth was the most pronounced in 2018 when exports increased by 51%. Over the period under review, the exports reached the maximum at X units in 2020, and then dropped in the following year.

In value terms, gas supply meter exports surged to $X in 2021. Overall, exports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 71%. The level of export peaked in 2021 and is likely to see gradual growth in the near future.

Exports by Country

China dominates exports structure, resulting at X units, which was approx. 60% of total exports in 2021. Malaysia (X units) took a 9.3% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (7.5%), Thailand (5.8%), Vietnam (5.5%), South Korea (5.4%) and Japan (5.3%).

From 2012 to 2021, average annual rates of growth with regard to gas supply meter exports from China stood at +12.1%. At the same time, Vietnam (+128.4%), Thailand (+102.1%), Malaysia (+34.7%), Turkey (+25.0%), Japan (+15.1%) and South Korea (+6.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +128.4% from 2012-2021. From 2012 to 2021, the share of Malaysia, Thailand, Vietnam and Turkey increased by +7.2, +5.8, +5.5 and +4.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Malaysia ($X) and Japan ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 74% of total exports. These countries were followed by Vietnam, Turkey, South Korea and Thailand, which together accounted for a further 23%.

Among the main exporting countries, Vietnam, with a CAGR of +78.4%, recorded the highest growth rate of 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 export price in Asia stood at $X per unit in 2021, with an increase of 33% against the previous year. Export price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, gas supply meter export price decreased by -27.5% against 2017 indices. The most prominent rate of growth was recorded in 2013 an increase of 43% against the previous year. The level of export peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.1%), while the other leaders experienced more modest paces of growth.

Gas Supply Meter Imports

Imports in Asia

In 2021, after two years of decline, there was significant growth in overseas purchases of gas supply or production meters, when their volume increased by 34% to X units. Total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 48%. The volume of import peaked in 2021 and is likely to continue growth in years to come.

In value terms, gas supply meter imports soared to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Pakistan (X units), distantly followed by Azerbaijan (X units), Taiwan (Chinese) (X units), Kazakhstan (X units), India (X units), Indonesia (X units) and Singapore (X units) were the key importers of gas supply or production meters, together achieving 78% of total imports. Bangladesh (X units), Georgia (X units), Turkey (X units), Hong Kong SAR (X units) and the United Arab Emirates (X units) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Pakistan (with a CAGR of +84.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Azerbaijan ($X), Taiwan (Chinese) ($X) and Singapore ($X) constituted the countries with the highest levels of imports in 2021, together comprising 30% of total imports. These countries were followed by Pakistan, Bangladesh, Turkey, Kazakhstan, India, Indonesia, the United Arab Emirates, Georgia and Hong Kong SAR, which together accounted for a further 48%.

Among the main importing countries, Bangladesh, with a CAGR of +65.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per unit in 2021, with a decrease of -5.4% against the previous year. In general, the import price continues to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2017 when the import price increased by 16% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Turkey ($X per unit), while Pakistan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+19.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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