Asia: Market for Non-Electronic Instruments For Measuring Or Checking Variables Of Liquids Or Gases 2024

Market Size for Non-Electronic Instruments For Measuring Or Checking Variables Of Liquids Or Gases in Asia

In 2021, the Asian market for non-electronic instruments for measuring or checking variables of liquids or gases decreased by -0.3% to $X, falling for the third year in a row after three years of growth. The market value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Production of Non-Electronic Instruments For Measuring Or Checking Variables Of Liquids Or Gases in Asia

In value terms, non-electronic liquid or gas measurer production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 19% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Non-Electronic Instruments For Measuring Or Checking Variables Of Liquids Or Gases

Exports in Asia

In 2021, approx. X units of non-electronic instruments for measuring or checking variables of liquids or gases were exported in Asia; jumping by 36% compared with the previous year's figure. Over the period under review, exports enjoyed a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, non-electronic liquid or gas measurer exports soared to $X in 2021. Total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +8.4% 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 +106.0% against 2012 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, reaching X units, which was approx. 59% of total exports in 2021. Japan (X units) ranks second in terms of the total exports with a 6.1% share, followed by Taiwan (Chinese) (6.1%), Vietnam (5.1%) and India (5.1%). The following exporters - Hong Kong SAR (X units), Thailand (X units) and South Korea (X units) - together made up 11% of total exports.

Exports from China increased at an average annual rate of +7.3% from 2012 to 2021. At the same time, Thailand (+50.0%), South Korea (+35.0%), Hong Kong SAR (+31.7%), Vietnam (+11.8%), Japan (+9.8%), Taiwan (Chinese) (+9.7%) and India (+5.6%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia, with a CAGR of +50.0% from 2012-2021. Thailand (+3.8 p.p.), Hong Kong SAR (+3.6 p.p.) and South Korea (+2.3 p.p.) significantly strengthened its position in terms of the total exports, while India and China saw its share reduced by -1.8% and -9.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest non-electronic liquid or gas measurer supplying countries in Asia were China ($X), Japan ($X) and Taiwan (Chinese) ($X), with a combined 64% share of total exports. These countries were followed by Vietnam, Hong Kong SAR, South Korea, India and Thailand, which together accounted for a further 22%.

Thailand, with a CAGR of +21.7%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries 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, falling by -7.9% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the export price increased by 47%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the export prices remained at a somewhat 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 ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+8.0%), while the other leaders experienced more modest paces of growth.

Imports of Non-Electronic Instruments For Measuring Or Checking Variables Of Liquids Or Gases

Imports in Asia

Non-electronic liquid or gas measurer imports amounted to X units in 2021, increasing by 15% on the previous year's figure. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +11.9% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 17% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, non-electronic liquid or gas measurer imports soared to $X in 2021. The total import value increased at an average annual rate of +5.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when imports increased by 18%. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, China (X units) represented the largest importer of non-electronic instruments for measuring or checking variables of liquids or gases, generating 36% of total imports. Indonesia (X units) held the second position in the ranking, followed by India (X units), South Korea (X units) and Thailand (X units). All these countries together took near 41% share of total imports. Taiwan (Chinese) (X units), Turkey (X units), Iran (X units), Vietnam (X units), the United Arab Emirates (X units) and Japan (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to non-electronic liquid or gas measurer imports into China stood at +11.5%. At the same time, Iran (+25.1%), South Korea (+21.4%), India (+17.8%), Vietnam (+13.9%), Japan (+4.7%), the United Arab Emirates (+4.6%), Taiwan (Chinese) (+4.5%) and Indonesia (+4.3%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing importer imported in Asia, with a CAGR of +25.1% from 2012-2021. By contrast, Turkey (-4.1%) and Thailand (-8.0%) illustrated a downward trend over the same period. China (+11 p.p.), South Korea (+7.6 p.p.), India (+7.2 p.p.) and Iran (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia, Turkey and Thailand saw its share reduced by -3.1%, -4.1% and -12.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported non-electronic instruments for measuring or checking variables of liquids or gases in Asia, comprising 36% of total imports. The second position in the ranking was taken by India ($X), with a 9.1% share of total imports. It was followed by Taiwan (Chinese), with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +6.9%. The remaining importing countries recorded the following average annual rates of imports growth: India (+14.5% per year) and Taiwan (Chinese) (+15.7% per year).

Import Prices by Country

The import price in Asia stood at $X per unit in 2021, almost unchanged from the previous year. Overall, the import price, however, saw a slight contraction. The most prominent rate of growth was recorded in 2019 when the import price increased by 3.9%. The level of import peaked at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per unit), while Iran ($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) (+10.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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