Eastern Asia: Timer Market 2024

Timer Market Size in Eastern Asia

The East Asian timer market soared to $X in 2022, increasing by 20% against the previous year. In general, consumption, however, recorded a deep setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Timer Production in Eastern Asia

In value terms, timer production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 451% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Timer Exports

Exports in Eastern Asia

In 2022, timer exports in Eastern Asia declined slightly to X units, shrinking by -3.9% on the previous year's figure. In general, exports showed a drastic downturn. The pace of growth was the most pronounced in 2021 when exports increased by 24%. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, timer exports amounted to $X in 2022. Over the period under review, exports recorded a pronounced contraction. The most prominent rate of growth was recorded in 2021 with an increase of 25% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China prevails in exports structure, amounting to X units, which was near 92% of total exports in 2022. It was distantly followed by Hong Kong SAR (X units), achieving a 6.9% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to timer exports from China stood at -10.1%. Hong Kong SAR (-4.5%) illustrated a downward trend over the same period. While the share of Hong Kong SAR (+3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (-2.2 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest timer supplier in Eastern Asia, comprising 81% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 6.5% share of total exports.

In China, timer exports plunged by an average annual rate of -3.0% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, picking up by 15% against the previous year. Export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, timer export price increased by +92.3% against 2018 indices. The growth pace was the most rapid in 2019 when the export price increased by 34% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while China totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.8%).

Timer Imports

Imports in Eastern Asia

Timer imports contracted markedly to X units in 2022, shrinking by -25.8% compared with 2021 figures. Over the period under review, imports, however, posted a noticeable expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 51%. The volume of import peaked at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, timer imports declined notably to $X in 2022. Overall, imports continue to indicate a noticeable slump. The most prominent rate of growth was recorded in 2013 when imports increased by 14% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Hong Kong SAR (X units) and Japan (X units) represented the key importers of timers in Eastern Asia, together making up 78% of total imports. It was distantly followed by Taiwan (Chinese) (X units) and China (X units), together generating a 21% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by China (with a CAGR of +18.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported timers in Eastern Asia, comprising 60% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 14% share of total imports. It was followed by Hong Kong SAR, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Japan was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-5.3% per year) and Hong Kong SAR (-12.0% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, with an increase of 3.6% against the previous year. In general, the import price, however, showed a deep slump. The most prominent rate of growth was recorded in 2019 when the import price increased by 30%. Over the period under review, import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, 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 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-7.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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