Japan: Machinery Electrical Parts Market 2024

Machinery Electrical Parts Market Size in Japan

The Japanese machinery electrical parts market reduced to $X in 2022, with a decrease of -5% against the previous year. In general, consumption, however, posted a resilient expansion. Machinery electrical parts consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Machinery Electrical Parts Production in Japan

In value terms, machinery electrical parts production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2014 when the production volume increased by 114%. Machinery electrical parts production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Machinery Electrical Parts Exports

Exports from Japan

In 2022, the amount of electrical parts of machinery or apparatus exported from Japan contracted to X tons, waning by -5.3% against the previous year's figure. Overall, exports recorded a abrupt slump. The pace of growth appeared the most rapid in 2016 when exports increased by 16%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, machinery electrical parts exports declined modestly to $X in 2022. In general, exports recorded a mild setback. The growth pace was the most rapid in 2021 when exports increased by 6.5%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons), Germany (X tons) and Hong Kong SAR (X tons) were the main destinations of machinery electrical parts exports from Japan, together comprising 56% of total exports. The United States, South Korea, Thailand, Singapore, Malaysia and Taiwan (Chinese) lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of +7.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for machinery electrical parts exported from Japan were China ($X), Hong Kong SAR ($X) and Germany ($X), together comprising 57% of total exports. Taiwan (Chinese), the United States, South Korea, Singapore, Thailand and Malaysia lagged somewhat behind, together comprising a further 35%.

In terms of the main countries of destination, Taiwan (Chinese), with a CAGR of +7.0%, recorded the highest growth rate of 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 average machinery electrical parts export price stood at $X per kg in 2022, growing by 2.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.2%. The pace of growth appeared the most rapid in 2014 when the average export price increased by 22%. Over the period under review, the average export prices hit record highs at $X per kg in 2020; afterwards, it flattened through to 2022.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per kg), while the average price for exports to Malaysia ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Machinery Electrical Parts Imports

Imports into Japan

In 2022, approx. X tons of electrical parts of machinery or apparatus were imported into Japan; with a decrease of -19.3% against the previous year's figure. Overall, total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +32.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 64% against the previous year. As a result, imports attained the peak of X tons, and then declined rapidly in the following year.

In value terms, machinery electrical parts imports fell to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 24% against the previous year. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest machinery electrical parts supplier to Japan, with a 59% share of total imports. Moreover, machinery electrical parts imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold. The third position in this ranking was held by Thailand (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+11.7% per year) and Thailand (-0.6% per year).

In value terms, China ($X), Thailand ($X) and Malaysia ($X) appeared to be the largest machinery electrical parts suppliers to Japan, together comprising 87% of total imports. Vietnam and Indonesia lagged somewhat behind, together comprising a further 5.6%.

Among the main suppliers, Indonesia, with a CAGR of +22.9%, 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

In 2022, the average machinery electrical parts import price amounted to $X per ton, increasing by 13% against the previous year. Overall, the import price, however, continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2018 when the average import price increased by 19% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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