Asia: Measuring Instrument Market 2022

Measuring Instrument Market Size in Asia

In 2021, the Asian measuring instrument market decreased by -0.3% to $X for the first time since 2015, thus ending a five-year rising trend. Overall, consumption, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 5.8%. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Measuring Instrument Production in Asia

In value terms, measuring instrument production reduced slightly to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 14% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Measuring Instrument Exports

Exports in Asia

In 2021, the amount of instruments and apparatus for measuring or checking the flow or level of liquids exported in Asia expanded markedly to X units, growing by 10% on the previous year's figure. In general, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 38%. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, measuring instrument exports skyrocketed to $X in 2021. Total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.7% 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 2018 with an increase of 23% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in years to come.

Exports by Country

China dominates exports structure, resulting at X units, which was near 56% of total exports in 2021. It was distantly followed by Hong Kong SAR (X units), South Korea (X units), the United Arab Emirates (X units), India (X units), Japan (X units) and Thailand (X units), together making up a 35% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to measuring instrument exports from China stood at +10.4%. At the same time, Hong Kong SAR (+23.5%), India (+19.2%), the United Arab Emirates (+16.1%), Thailand (+10.7%) and South Korea (+1.3%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing exporter exported in Asia, with a CAGR of +23.5% from 2012-2021. By contrast, Japan (-2.4%) illustrated a downward trend over the same period. Hong Kong SAR (+4.7 p.p.), China (+3.7 p.p.), India (+2.9 p.p.) and the United Arab Emirates (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while South Korea and Japan saw its share reduced by -6.6% and -9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest measuring instrument supplying countries in Asia were China ($X), Japan ($X) and India ($X), together accounting for 63% of total exports. These countries were followed by Thailand, the United Arab Emirates, South Korea and Hong Kong SAR, which together accounted for a further 17%.

In terms of the main exporting countries, Thailand, with a CAGR of +27.3%, recorded the highest rates of growth with regard to 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, increasing by 12% against the previous year. Overall, the export price, however, showed a perceptible setback. Over the period under review, the export prices reached the maximum at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Japan ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+15.0%), while the other leaders experienced more modest paces of growth.

Measuring Instrument Imports

Imports in Asia

In 2021, the amount of instruments and apparatus for measuring or checking the flow or level of liquids imported in Asia skyrocketed to X units, picking up by 23% against 2020. Total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.2% 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 2018 with an increase of 32% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in years to come.

In value terms, measuring instrument imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) and Hong Kong SAR (X units) represented the largest importers of instruments and apparatus for measuring or checking the flow or level of liquids in Asia, together generating 44% of total imports. South Korea (X units) ranks next in terms of the total imports with an 8.3% share, followed by Saudi Arabia (7.1%), India (6.1%) and Indonesia (5.4%). Thailand (X units), Turkey (X units), Japan (X units), Taiwan (Chinese) (X units), the United Arab Emirates (X units), Oman (X units) and Singapore (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Hong Kong SAR (with a CAGR of +24.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported instruments and apparatus for measuring or checking the flow or level of liquids in Asia, comprising 30% of total imports. The second position in the ranking was taken by South Korea ($X), with a 9.3% share of total imports. It was followed by Japan, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +2.5%. In the other countries, the average annual rates were as follows: South Korea (+3.7% per year) and Japan (+5.4% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, waning by -1.9% against the previous year. Overall, the import price showed a perceptible curtailment. The growth pace was the most rapid in 2015 when the import price increased by 2.5% against the previous year. The level of import peaked 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 Singapore ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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