China: Multimeter Market 2025

Multimeter Market Size in China

The Chinese multimeter market surged to $X in 2022, jumping by 22% against the previous year. Over the period under review, consumption recorded a prominent expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Multimeter Production in China

In value terms, multimeter production rose sharply to $X in 2022 estimated in export price. Over the period under review, production continues to indicate prominent growth. The growth pace was the most rapid in 2020 when the production volume increased by 72% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Multimeter Exports

Exports from China

In 2022, shipments abroad of multimeters increased by less than 0.1% to X units, rising for the fourth year in a row after two years of decline. In general, exports saw significant growth. The growth pace was the most rapid in 2020 with an increase of 204% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, multimeter exports declined to $X in 2022. Overall, total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +39.4% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 35% against the previous year. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

The United States (X units) was the main destination for multimeter exports from China, with a 18% share of total exports. Moreover, multimeter exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X units), twofold. The third position in this ranking was held by India (X units), with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +24.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+72.8% per year) and India (+28.4% per year).

In value terms, the United States ($X) remains the key foreign market for multimeters exports from China, comprising 21% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 6.6% share of total exports. It was followed by India, with a 6% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +8.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+44.1% per year) and India (+12.8% per year).

Export Prices by Country

In 2022, the average multimeter export price amounted to $X per unit, with a decrease of -1.8% against the previous year. In general, the export price continues to indicate a abrupt decline. The growth pace was the most rapid in 2013 when the average export price increased by 21% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (-0.3%), while the prices for the other major destinations experienced a decline.

Multimeter Imports

Imports into China

For the fourth consecutive year, China recorded decline in overseas purchases of multimeters, which decreased by -0.3% to X units in 2022. Overall, imports showed a deep downturn. The pace of growth appeared the most rapid in 2016 with an increase of 64%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, multimeter imports surged to $X in 2022. Over the period under review, imports continue to indicate a pronounced decline. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Japan (X units), Germany (X units) and the United States (X units) were the main suppliers of multimeter imports to China, with a combined 65% share of total imports. Malaysia, Hungary, Thailand, South Korea and the UK lagged somewhat behind, together comprising a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +17.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), the United States ($X) and Japan ($X) constituted the largest multimeter suppliers to China, together comprising 69% of total imports. Hungary, Germany, the UK, South Korea and Thailand lagged somewhat behind, together accounting for a further 9.9%.

Among the main suppliers, Hungary, with a CAGR of +18.2%, recorded the highest growth rate of 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 multimeter import price stood at $X per unit in 2022, with an increase of 27% against the previous year. Over the period under review, the import price recorded a resilient increase. The growth pace was the most rapid in 2021 an increase of 51%. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+28.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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