China: Measuring Instrument Market 2022

Measuring Instrument Market Size in China

In 2021, after two years of growth, there was decline in the Chinese measuring instrument market, when its value decreased by -2.5% to $X. The market value increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Measuring instrument consumption peaked at $X in 2020, and then declined slightly in the following year.

Measuring Instrument Production in China

In value terms, measuring instrument production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when the production volume increased by 37%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Measuring Instrument Exports

Exports from China

In 2021, shipments abroad of instruments and apparatus for measuring or checking the flow or level of liquids increased by 1.5% to X units, rising for the sixth year in a row after two years of decline. Overall, exports saw a resilient expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 61% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, measuring instrument exports skyrocketed to $X in 2021. In general, total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

South Korea (X units), the United States (X units) and Hong Kong SAR (X units) were the main destinations of measuring instrument exports from China, together comprising 30% of total exports. Russia, India, Thailand, Japan, the United Arab Emirates, Italy, the UK, Indonesia, Mexico and Turkey lagged somewhat behind, together comprising a further 41%.

From 2012 to 2021, the biggest increases were in Mexico (with a CAGR of +42.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for measuring instrument exported from China were the United States ($X), Thailand ($X) and India ($X), with a combined 26% share of total exports.

Thailand, with a CAGR of +21.7%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average measuring instrument export price stood at $X per unit in 2021, jumping by 30% against the previous year. Over the period under review, the export price, however, saw a pronounced slump. Over the period under review, the average export prices reached the maximum at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Thailand ($X per unit), while the average price for exports to Mexico ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+12.9%), while the prices for the other major destinations experienced more modest paces of growth.

Measuring Instrument Imports

Imports into China

After two years of decline, overseas purchases of instruments and apparatus for measuring or checking the flow or level of liquids increased by 55% to X units in 2021. Over the period under review, imports continue to indicate a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, measuring instrument imports soared to $X in 2021. The total import value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X units), Japan (X units) and Switzerland (X units) were the main suppliers of measuring instrument imports to China, with a combined 58% share of total imports. These countries were followed by the Czech Republic, Italy, Mexico, South Korea and the United States, which together accounted for a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +41.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and Japan ($X) appeared to be the largest measuring instrument suppliers to China, with a combined 54% share of total imports. These countries were followed by Switzerland, the Czech Republic, South Korea, Mexico and Italy, which together accounted for a further 11%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +32.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average measuring instrument import price stood at $X per unit in 2021, with a decrease of -18.9% against the previous year. Over the period under review, the import price continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2019 an increase of 21%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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