Asia: Personal Weighing Machine Market 2024

Personal Weighing Machine Market Size in Asia

The Asian personal weighing machine market skyrocketed to $X in 2022, surging by 23% against the previous year. The total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +121.4% against 2016 indices. The level of consumption peaked in 2022 and is likely to continue growth in the near future.

Personal Weighing Machine Production in Asia

In value terms, personal weighing machine production expanded rapidly to $X in 2022 estimated in export price. The total production indicated a pronounced 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, production decreased by -7.2% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by 42% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Personal Weighing Machine Exports

Exports in Asia

In 2022, overseas shipments of personal weighing machines decreased by -31.9% to X units for the first time since 2016, thus ending a five-year rising trend. In general, exports, however, posted a tangible increase. The growth pace was the most rapid in 2018 when exports increased by 59% against the previous year. Over the period under review, the exports reached the maximum at X units in 2021, and then reduced dramatically in the following year.

In value terms, personal weighing machine exports fell dramatically to $X in 2022. Overall, exports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 64%. Over the period under review, the exports reached the peak figure at $X in 2021, and then contracted sharply in the following year.

Exports by Country

The biggest shipments were from China (X units), together recording 99% of total export.

China was also the fastest-growing in terms of the personal weighing machines exports, with a CAGR of +5.0% from 2012 to 2022. While the share of China (+4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest personal weighing machine supplier in Asia.

From 2012 to 2022, the average annual growth rate of value in China totaled +7.7%.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, picking up by 2.6% against the previous year. Export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, personal weighing machine export price increased by +26.8% against 2019 indices. The growth pace was the most rapid in 2016 an increase of 43%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +2.5% per year.

Personal Weighing Machine Imports

Imports in Asia

In 2022, after five years of growth, there was significant decline in overseas purchases of personal weighing machines, when their volume decreased by -16.8% to X units. Overall, imports, however, continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 44% against the previous year. Over the period under review, imports reached the peak figure at X units in 2021, and then reduced notably in the following year.

In value terms, personal weighing machine imports contracted rapidly to $X in 2022. Total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 52%. The level of import peaked at $X in 2021, and then fell sharply in the following year.

Imports by Country

In 2022, India (X units), distantly followed by Japan (X units), the United Arab Emirates (X units), Turkey (X units), Iraq (X units) and South Korea (X units) represented the major importers of personal weighing machines, together mixing up 68% of total imports. The following importers - Iran (X units), Malaysia (X units), Singapore (X units), Taiwan (Chinese) (X units), Hong Kong SAR (X units), Bangladesh (X units) and the Philippines (X units) - together made up 19% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +23.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), the United Arab Emirates ($X) and India ($X) were the countries with the highest levels of imports in 2022, with a combined 41% share of total imports. South Korea, Iraq, Hong Kong SAR, Singapore, Taiwan (Chinese), Turkey, Iran, Malaysia, Bangladesh and the Philippines lagged somewhat behind, together accounting for a further 39%.

Iraq, with a CAGR of +27.3%, 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 amounted to $X per unit, with a decrease of -7.9% against the previous year. Overall, the import price showed a noticeable curtailment. The most prominent rate of growth was recorded in 2017 when the import price increased by 8.1% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+8.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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