Asia-Pacific: Multimeter Market 2025

Multimeter Market Size in Asia-Pacific

The Asia-Pacific multimeter market was estimated at $X in 2022, with an increase of 14% against the previous year. The total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -12.7% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Multimeter Production in Asia-Pacific

In value terms, multimeter production rose significantly to $X in 2022 estimated in export price. Overall, production continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 48% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Multimeter Exports

Exports in Asia-Pacific

In 2022, shipments abroad of multimeters decreased by -4% to X units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 74%. The volume of export peaked at X units in 2021, and then contracted modestly in the following year.

In value terms, multimeter exports fell to $X in 2022. The total export value increased at an average annual rate of +4.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 31%. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

China prevails in exports structure, accounting for X units, which was approx. 78% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X units) and South Korea (X units), together achieving a 13% share of total exports. Hong Kong SAR (X units) and Singapore (X units) took a little share of total exports.

China was also the fastest-growing in terms of the multimeters exports, with a CAGR of +22.7% from 2012 to 2022. At the same time, Singapore (+14.8%) and South Korea (+5.0%) displayed positive paces of growth. By contrast, Taiwan (Chinese) (-2.1%) and Hong Kong SAR (-2.2%) illustrated a downward trend over the same period. China (+46 p.p.) significantly strengthened its position in terms of the total exports, while South Korea, Hong Kong SAR and Taiwan (Chinese) saw its share reduced by -4.5%, -8.2% and -22.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest multimeter supplier in Asia-Pacific, comprising 56% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 10% share of total exports. It was followed by Singapore, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +7.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (-0.7% per year) and Singapore (+21.7% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, with a decrease of -2.8% against the previous year. In general, the export price continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2013 when the export price increased by 15%. Over the period under review, the export prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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 2022, the most notable rate of growth in terms of prices was attained by Singapore (+6.0%), while the other leaders experienced more modest paces of growth.

Multimeter Imports

Imports in Asia-Pacific

In 2022, multimeter imports in Asia-Pacific dropped to X units, with a decrease of -10% on the previous year. Total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.5% against 2012 indices. The most prominent rate of growth was recorded in 2016 with an increase of 18% against the previous year. The volume of import peaked at X units in 2021, and then contracted in the following year.

In value terms, multimeter imports contracted significantly to $X in 2022. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 19% against the previous year. As a result, imports reached the peak of $X, and then dropped remarkably in the following year.

Imports by Country

Indonesia was the key importer of multimeters in Asia-Pacific, with the volume of imports amounting to X units, which was near 26% of total imports in 2022. It was distantly followed by Japan (X units), India (X units), Australia (X units), Hong Kong SAR (X units), Singapore (X units), Malaysia (X units), South Korea (X units) and Vietnam (X units), together constituting a 59% share of total imports.

Imports into Indonesia increased at an average annual rate of +15.3% from 2012 to 2022. At the same time, Vietnam (+27.7%), India (+18.7%), Singapore (+13.1%), Malaysia (+10.9%) and South Korea (+5.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +27.7% from 2012-2022. Australia experienced a relatively flat trend pattern. By contrast, Japan (-1.3%) and Hong Kong SAR (-1.4%) illustrated a downward trend over the same period. Indonesia (+15 p.p.), India (+6.7 p.p.), Vietnam (+4.2 p.p.), Singapore (+2.9 p.p.) and Malaysia (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while Australia, Hong Kong SAR and Japan saw its share reduced by -6.2%, -8.2% and -9.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest multimeter importing markets in Asia-Pacific were Singapore ($X), Hong Kong SAR ($X) and Japan ($X), together comprising 38% of total imports. India, Australia, South Korea, Vietnam, Malaysia and Indonesia lagged somewhat behind, together comprising a further 42%.

Vietnam, with a CAGR of +21.4%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per unit, falling by -9.4% against the previous year. In general, the import price showed a noticeable curtailment. The most prominent rate of growth was recorded in 2020 an increase of 17%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+4.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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