Asia: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in Asia

In 2021, the Asian market for instruments for measuring electrical quantities increased by 6.3% to $X, rising for the fourth year in a row after three years of decline. The market value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2021 and is expected to retain growth in the immediate term.

Production of Instruments for Measuring Electrical Quantities in Asia

In value terms, instruments for measuring electrical quantities production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 12%. As a result, production reached the peak level of $X, and then declined in the following year.

Exports of Instruments for Measuring Electrical Quantities

Exports in Asia

Instruments for measuring electrical quantities exports was estimated at X units in 2021, growing by 10% against 2020. Total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +8.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +111.9% against 2013 indices. The pace of growth appeared the most rapid in 2014 with an increase of 43%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, instruments for measuring electrical quantities exports skyrocketed to $X in 2021. Total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +8.8% 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 +112.8% against 2012 indices. The most prominent rate of growth was recorded in 2014 with an increase of 25%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in years to come.

Exports by Country

China dominates exports structure, reaching X units, which was approx. 82% of total exports in 2021. It was distantly followed by Hong Kong SAR (X units), constituting a 5.5% share of total exports. Japan (X units) and South Korea (X units) held a minor share of total exports.

China was also the fastest-growing in terms of the instruments for measuring electrical quantities exports, with a CAGR of +19.2% from 2012 to 2021. At the same time, Hong Kong SAR (+7.3%) displayed positive paces of growth. By contrast, Japan (-1.1%) and South Korea (-6.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +47 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest instruments for measuring electrical quantities supplier in Asia, comprising 51% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 7.8% share of total exports. It was followed by Japan, with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +17.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (+3.6% per year) and Japan (+0.3% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per unit, increasing by 4.5% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the export price increased by 8.6% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2013; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+15.6%), while the other leaders experienced mixed trends in the export price figures.

Imports of Instruments for Measuring Electrical Quantities

Imports in Asia

In 2021, the amount of instruments for measuring electrical quantities imported in Asia skyrocketed to X units, jumping by 19% on the previous year. The total import volume increased at an average annual rate of +6.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, instruments for measuring electrical quantities imports surged to $X in 2021. The total import value increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the three major importers of instruments for measuring electrical quantities, namely Indonesia, Hong Kong SAR and China, represented more than third of total import. Japan (X units) held a 9% share (based on physical terms) of total imports, which put it in second place, followed by Turkey (8.9%) and India (4.8%). The following importers - South Korea (X units), Vietnam (X units), Singapore (X units), the United Arab Emirates (X units), Taiwan (Chinese) (X units), Thailand (X units) and Iraq (X units) - together made up 22% 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 India (with a CAGR of +22.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported instruments for measuring electrical quantities in Asia, comprising 26% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 10% share of total imports. It was followed by Japan, with a 7.7% share.

In China, instruments for measuring electrical quantities imports expanded at an average annual rate of +4.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Hong Kong SAR (+6.2% per year) and Japan (-0.9% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, increasing by 8.9% against the previous year. Over the period under review, the import price, however, saw a mild downturn. The most prominent rate of growth was recorded in 2018 when the import price increased by 9.4%. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+15.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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