Eastern Asia: Measuring Instrument Market 2022

Measuring Instrument Market Size in Eastern Asia

In 2021, after two years of growth, there was decline in the East Asian measuring instrument market, when its value decreased by -0.9% to $X. Overall, consumption, however, continues to indicate a slight slump. The most prominent rate of growth was recorded in 2016 with an increase of 10% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Measuring Instrument Production in Eastern Asia

In value terms, measuring instrument production fell slightly to $X in 2021 estimated in export price. Over the period under review, production showed a mild decrease. The most prominent rate of growth was recorded in 2016 when the production volume increased by 19% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Measuring Instrument Exports

Exports in Eastern Asia

In 2021, overseas shipments of instruments and apparatus for measuring or checking the flow or level of liquids increased by 2.6% to X units, rising for the sixth year in a row after two years of decline. Overall, exports saw buoyant growth. The most prominent rate of growth was recorded in 2018 with an increase of 45%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, measuring instrument exports soared to $X in 2021. The total export value increased at an average annual rate of +4.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, resulting at X units, which was approx. 74% of total exports in 2021. Hong Kong SAR (X units) held the second position in the ranking, followed by South Korea (X units) and Japan (X units). All these countries together took approx. 24% share of total exports. Taiwan (Chinese) (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +10.4% from 2012 to 2021. At the same time, Hong Kong SAR (+23.5%), Taiwan (Chinese) (+7.2%) and South Korea (+1.3%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +23.5% from 2012-2021. By contrast, Japan (-2.4%) illustrated a downward trend over the same period. China (+11 p.p.) and Hong Kong SAR (+6.5 p.p.) significantly strengthened its position in terms of the total exports, while South Korea and Japan saw its share reduced by -7.1% and -10.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the countries with the highest levels of exports in 2021, together comprising 94% of total exports.

Among the main exporting countries, China, with a CAGR of +7.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2021, rising by 24% against the previous year. In general, the export price, however, recorded a perceptible decrease. Over the period under review, the export prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+5.8%), while the other leaders experienced a decline in the export price figures.

Measuring Instrument Imports

Imports in Eastern Asia

For the tenth consecutive year, Eastern Asia recorded growth in overseas purchases of instruments and apparatus for measuring or checking the flow or level of liquids, which increased by 30% to X units in 2021. In general, imports enjoyed prominent growth. The pace of growth was the most pronounced in 2018 when imports increased by 39% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, measuring instrument imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units) and Hong Kong SAR (X units) represented the major importers of instruments and apparatus for measuring or checking the flow or level of liquids in 2021, reaching near 39% and 34% of total imports, respectively. South Korea (X units) ranks next in terms of the total imports with a 14% share, followed by Japan (6.8%) and Taiwan (Chinese) (6%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Hong Kong SAR (with a CAGR of +24.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported instruments and apparatus for measuring or checking the flow or level of liquids in Eastern Asia, comprising 56% of total imports. The second position in the ranking was held by South Korea ($X), with a 17% share of total imports. It was followed by Japan, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +2.5%. In the other countries, the average annual rates were as follows: South Korea (+3.7% per year) and Japan (+5.4% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per unit, waning by -1.7% against the previous year. In general, the import price showed a abrupt decline. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Japan ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+1.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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