Asia: Test And Measurement Market 2024

Test And Measurement Market Size in Asia

In 2021, after three years of growth, there was significant decline in the Asian test and measurement market, when its value decreased by -6.7% to $X. The total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +16.8% against 2016 indices. Over the period under review, the market reached the peak level at $X in 2020, and then declined in the following year.

Test And Measurement Production in Asia

In value terms, test and measurement production declined to $X in 2021 estimated in export price. The total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 41%. The level of production peaked at $X in 2020, and then declined modestly in the following year.

Test And Measurement Exports

Exports in Asia

In 2021, the amount of instruments and apparatus for measuring or checking pressure of liquids or gasses exported in Asia surged to X units, picking up by 21% compared with 2020 figures. Over the period under review, exports posted a prominent increase. The growth pace was the most rapid in 2018 with an increase of 420% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the near future.

In value terms, test and measurement exports soared to $X in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +90.8% against 2012 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, finishing at X units, which was near 75% of total exports in 2021. Japan (X units) held a 7.8% share (based on physical terms) of total exports, which put it in second place, followed by Hong Kong SAR (4.7%). The following exporters - Taiwan (Chinese) (X units), South Korea (X units), Malaysia (X units) and Singapore (X units) - together made up 10% of total exports.

Exports from China increased at an average annual rate of +9.7% from 2012 to 2021. At the same time, South Korea (+47.3%), Hong Kong SAR (+33.7%), Singapore (+15.8%), Japan (+10.5%) and Taiwan (Chinese) (+9.1%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia, with a CAGR of +47.3% from 2012-2021. By contrast, Malaysia (-6.9%) illustrated a downward trend over the same period. While the share of Hong Kong SAR (+3.9 p.p.) and South Korea (+2.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Malaysia (-6.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest test and measurement supplier in Asia, comprising 45% of total exports. The second position in the ranking was taken by Singapore ($X), with a 12% share of total exports. It was followed by Japan, with a 10% share.

From 2012 to 2021, the average annual growth rate of value in China stood at +11.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (+5.8% per year) and Japan (-0.7% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per unit, leveling off at the previous year. Overall, the export price, however, continues to indicate a perceptible setback. The pace of growth was the most pronounced in 2016 when the export price increased by 496% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+5.2%), while the other leaders experienced more modest paces of growth.

Test And Measurement Imports

Imports in Asia

In 2021, approx. X units of instruments and apparatus for measuring or checking pressure of liquids or gasses were imported in Asia; picking up by 6.4% on the previous year's figure. Over the period under review, imports saw a significant increase. The growth pace was the most rapid in 2014 when imports increased by 95%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, test and measurement imports soared to $X in 2021. Total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +8.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +106.5% against 2012 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China represented the largest importer of instruments and apparatus for measuring or checking pressure of liquids or gasses in Asia, with the volume of imports recording X units, which was approx. 61% of total imports in 2021. South Korea (X units) held the second position in the ranking, distantly followed by Turkey (X units). All these countries together held near 19% share of total imports. Japan (X units), Taiwan (Chinese) (X units), Thailand (X units) and Singapore (X units) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to test and measurement imports into China stood at +24.1%. At the same time, South Korea (+25.4%), Singapore (+16.6%), Japan (+14.5%), Turkey (+13.0%), Taiwan (Chinese) (+11.5%) and Thailand (+7.1%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia, with a CAGR of +25.4% from 2012-2021. From 2012 to 2021, the share of China and South Korea increased by +15 and +4.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported instruments and apparatus for measuring or checking pressure of liquids or gasses in Asia, comprising 44% of total imports. The second position in the ranking was held by South Korea ($X), with a 13% share of total imports. It was followed by Singapore, with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +11.5%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+5.6% per year) and Singapore (+11.3% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, increasing by 11% against the previous year. Over the period under review, the import price, however, recorded a deep downturn. The growth pace was the most rapid in 2016 when the import price increased by 57% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (-0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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