Asia-Pacific: Market for Non-Electronic Hydro-, Hygro-, Psychrometers 2024

Market Size for Non-Electronic Hydro-, Hygro-, Psychrometers in Asia-Pacific

In 2021, the Asia-Pacific non-electronic hydro- and hygrometers market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Production of Non-Electronic Hydro-, Hygro-, Psychrometers in Asia-Pacific

In value terms, non-electronic hydro- and hygrometers production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when the production volume increased by 32% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Exports of Non-Electronic Hydro-, Hygro-, Psychrometers

Exports in Asia-Pacific

In 2021, overseas shipments of non-electronic hydro-, hygro-, psychrometers increased by 28% to X units, rising for the second year in a row after two years of decline. Overall, exports posted a prominent expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 184%. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, non-electronic hydro- and hygrometers exports surged to $X in 2021. Total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +9.5% 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 +16.9% against 2018 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 29%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

China was the main exporter of non-electronic hydro-, hygro-, psychrometers in Asia-Pacific, with the volume of exports reaching X units, which was near 49% of total exports in 2021. Thailand (X units) took a 32% share (based on physical terms) of total exports, which put it in second place, followed by Hong Kong SAR (8%). The following exporters - Taiwan (Chinese) (X units), Japan (X units) and South Korea (X units) - together made up 7.3% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Thailand (with a CAGR of +87.1%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest non-electronic hydro- and hygrometers supplier in Asia-Pacific, comprising 56% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 21% share of total exports. It was followed by Taiwan (Chinese), with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +11.3%. In the other countries, the average annual rates were as follows: Hong Kong SAR (+6.7% per year) and Taiwan (Chinese) (+8.0% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2021, remaining relatively unchanged against the previous year. Over the period under review, the export price showed a abrupt curtailment. The pace of growth appeared the most rapid in 2018 when the export price increased by 22%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+12.2%), while the other leaders experienced more modest paces of growth.

Imports of Non-Electronic Hydro-, Hygro-, Psychrometers

Imports in Asia-Pacific

In 2021, non-electronic hydro- and hygrometers imports in Asia-Pacific fell dramatically to X units, shrinking by -22.3% on the previous year. Over the period under review, imports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 820%. As a result, imports reached the peak of X units, and then fell dramatically in the following year.

In value terms, non-electronic hydro- and hygrometers imports surged to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 34%. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

Thailand dominates imports structure, resulting at X units, which was near 87% of total imports in 2021. The following importers - China (X units) and Japan (X units) - each finished at a 4.5% share of total imports.

Thailand was also the fastest-growing in terms of the non-electronic hydro-, hygro-, psychrometers imports, with a CAGR of +68.5% from 2012 to 2021. At the same time, Japan (+2.4%) displayed positive paces of growth. China experienced a relatively flat trend pattern. While the share of Thailand (+80 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Japan (-13.3 p.p.) and China (-17.2 p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported non-electronic hydro-, hygro-, psychrometers in Asia-Pacific, comprising 44% of total imports. The second position in the ranking was taken by Japan ($X), with an 8.9% share of total imports.

In China, non-electronic hydro- and hygrometers imports expanded at an average annual rate of +10.3% over the period from 2012-2021.

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2021, increasing by 70% against the previous year. Over the period under review, the import price, however, saw a deep setback. Over the period under review, import prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per unit), while Japan amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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