Asia-Pacific: Measuring Instrument Market 2022

Measuring Instrument Market Size in Asia-Pacific

The Asia-Pacific measuring instrument market totaled $X in 2021, with an increase of 3% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the market value increased by 5%. 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-Pacific

In value terms, measuring instrument production reduced modestly to $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the production volume increased by 14% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Measuring Instrument Exports

Exports in Asia-Pacific

In 2021, the amount of instruments and apparatus for measuring or checking the flow or level of liquids exported in Asia-Pacific expanded notably to X units, surging by 5.9% compared with 2020. Overall, exports saw a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 47%. The volume of export peaked in 2021 and is likely to continue growth in the near future.

In value terms, measuring instrument exports surged to $X in 2021. Total exports indicated a resilient increase from 2012 to 2021: its value 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 pace of growth was the most pronounced in 2018 when exports increased by 26% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

China dominates exports structure, reaching X units, which was near 61% of total exports in 2021. Hong Kong SAR (X units) held a 7.8% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (7%), India (6%), Japan (5.3%) and Thailand (5.2%). The Philippines (X units) followed a long way behind the leaders.

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, the Philippines (+37.4%), Hong Kong SAR (+23.5%), India (+19.2%), Thailand (+10.7%) and South Korea (+1.3%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +37.4% from 2012-2021. By contrast, Japan (-2.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China, Hong Kong SAR, India and the Philippines increased by +5.9, +5.2, +3.3 and +2.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and India ($X) constituted the countries with the highest levels of exports in 2021, together comprising 67% of total exports. Thailand, South Korea, Hong Kong SAR and the Philippines lagged somewhat behind, together accounting for a further 14%.

Among the main exporting countries, Thailand, with a CAGR of +27.3%, saw 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-Pacific stood at $X per unit in 2021, surging by 13% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced reduction. The level of export peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per unit), while Hong Kong SAR ($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 mixed trends in the export price figures.

Measuring Instrument Imports

Imports in Asia-Pacific

In 2021, approx. X units of instruments and apparatus for measuring or checking the flow or level of liquids were imported in Asia-Pacific; rising by 25% compared with 2020 figures. Total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +7.5% 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 +80.3% against 2016 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 33%. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, measuring instrument imports skyrocketed to $X in 2021. The total import 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 somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units) and Hong Kong SAR (X units) represented the major importers of instruments and apparatus for measuring or checking the flow or level of liquids in 2021, reaching approx. 28% and 25% of total imports, respectively. South Korea (X units) ranks next in terms of the total imports with a 10% share, followed by India (7.4%), Indonesia (6.6%), Thailand (5.4%) and Japan (4.9%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main 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 ($X) constitutes the largest market for imported instruments and apparatus for measuring or checking the flow or level of liquids in Asia-Pacific, comprising 35% of total imports. The second position in the ranking was held by South Korea ($X), with an 11% share of total imports. It was followed by Japan, with a 10% share.

In China, measuring instrument imports increased at an average annual rate of +2.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+3.7% per year) and Japan (+5.4% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2021, leveling off at the previous year. Over the period under review, the import price, however, continues to indicate a noticeable descent. The growth pace was the most rapid in 2015 when the import price increased by 1.9%. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: 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 Indonesia (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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