Japan: Measuring Instrument Market 2022

Measuring Instrument Market Size in Japan

In 2021, after four years of decline, there was growth in the Japanese measuring instrument market, when its value increased by 2.1% to $X. In general, consumption, however, saw a perceptible decrease. The most prominent rate of growth was recorded in 2016 when the market value increased by 7.2%. Measuring instrument consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Measuring Instrument Production in Japan

In value terms, measuring instrument production totaled $X in 2021 estimated in export price. In general, production, however, continues to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of 7.4% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Measuring Instrument Exports

Exports from Japan

In 2021, overseas shipments of instruments and apparatus for measuring or checking the flow or level of liquids increased by 14% to X units for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, continue to indicate a noticeable curtailment. The growth pace was the most rapid in 2017 with an increase of 18% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, measuring instrument exports skyrocketed to $X in 2021. Overall, total exports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +36.3% against 2019 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 32%. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in the near future.

Exports by Country

China (X units), the United States (X units) and South Korea (X units) were the main destinations of measuring instrument exports from Japan, with a combined 46% share of total exports. These countries were followed by Taiwan (Chinese), the Czech Republic, Thailand, the Netherlands, South Africa, New Zealand, the Philippines, Indonesia, Singapore and India, which together accounted for a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +22.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for measuring instrument exported from Japan were China ($X), the United States ($X) and South Korea ($X), together comprising 62% of total exports. These countries were followed by Taiwan (Chinese), the Netherlands, Singapore, the Czech Republic, Thailand, the Philippines, Indonesia, India, South Africa and New Zealand, which together accounted for a further 23%.

The Netherlands, with a CAGR of +21.7%, recorded the highest rates of growth with regard to the value of exports, among 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

In 2021, the average measuring instrument export price amounted to $X per unit, increasing by 11% against the previous year. Over the period under review, export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, measuring instrument export price increased by +77.9% against 2015 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 17%. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was South Korea ($X per unit), while the average price for exports to New Zealand ($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 (+9.7%), while the prices for the other major destinations experienced more modest paces of growth.

Measuring Instrument Imports

Imports into Japan

After two years of decline, overseas purchases of instruments and apparatus for measuring or checking the flow or level of liquids increased by 17% to X units in 2021. Overall, total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 22%. Imports peaked at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, measuring instrument imports surged to $X in 2021. In general, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some 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

In 2021, China (X units) constituted the largest measuring instrument supplier to Japan, with a 50% share of total imports. Moreover, measuring instrument imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), threefold. Taiwan (Chinese) (X units) ranked third in terms of total imports with a 9% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+26.0% per year) and Taiwan (Chinese) (+2.9% per year).

In value terms, China ($X) constituted the largest supplier of measuring instrument to Japan, comprising 39% of total imports. The second position in the ranking was held by the United States ($X), with a 15% share of total imports. It was followed by Thailand, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+1.3% per year) and Thailand (+39.7% per year).

Import Prices by Country

The average measuring instrument import price stood at $X per unit in 2021, picking up by 42% against the previous year. Over the last nine years, it increased at an average annual rate of +1.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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