Japan: Market for Non-Electronic Hydro-, Hygro-, Psychrometers 2024

Market Size for Non-Electronic Hydro-, Hygro-, Psychrometers in Japan

In 2021, after three years of growth, there was decline in the Japanese non-electronic hydro- and hygrometers market, when its value decreased by -2.3% to $X. In general, consumption continues to indicate a slight reduction. Non-electronic hydro- and hygrometers consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Non-Electronic Hydro-, Hygro-, Psychrometers in Japan

In value terms, non-electronic hydro- and hygrometers production totaled $X in 2021 estimated in export price. Over the period under review, production, however, recorded a abrupt decrease. The pace of growth appeared the most rapid in 2019 with an increase of 34% against the previous year. Non-electronic hydro- and hygrometers production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Exports of Non-Electronic Hydro-, Hygro-, Psychrometers

Exports from Japan

In 2021, shipments abroad of non-electronic hydro-, hygro-, psychrometers increased by 15% to X units for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, showed a abrupt contraction. The pace of growth appeared the most rapid in 2017 when exports increased by 15% against the previous year. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, non-electronic hydro- and hygrometers exports soared to $X in 2021. Over the period under review, exports, however, showed a slight decline. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Thailand (X units) was the main destination for non-electronic hydro- and hygrometers exports from Japan, accounting for a 31% share of total exports. Moreover, non-electronic hydro- and hygrometers exports to Thailand exceeded the volume sent to the second major destination, Indonesia (X units), twofold. China (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Thailand stood at +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+0.1% per year) and China (-17.1% per year).

In value terms, the largest markets for non-electronic hydro- and hygrometers exported from Japan were China ($X), Taiwan (Chinese) ($X) and the United States ($X), together comprising 38% of total exports. These countries were followed by Thailand, South Korea, Vietnam, Austria, Indonesia, the Netherlands, Hong Kong SAR and Germany, which together accounted for a further 46%.

Among the main countries of destination, Austria, with a CAGR of +21.9%, 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 non-electronic hydro- and hygrometers export price stood at $X per unit in 2021, with an increase of 3.6% against the previous year. Over the period under review, export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, non-electronic hydro- and hygrometers export price increased by +78.5% against 2018 indices. The most prominent rate of growth was recorded in 2019 an increase of 36% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Thailand ($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 China (+17.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Electronic Hydro-, Hygro-, Psychrometers

Imports into Japan

In 2021, overseas purchases of non-electronic hydro-, hygro-, psychrometers decreased by -10.6% to X units for the first time since 2015, thus ending a five-year rising trend. Over the period under review, total imports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +2.4% 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 2018 when imports increased by 43%. Imports peaked at X units in 2020, and then fell in the following year.

In value terms, non-electronic hydro- and hygrometers imports fell to $X in 2021. Overall, imports, however, enjoyed buoyant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 44%. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

In 2021, China (X units) was the main non-electronic hydro- and hygrometers supplier to Japan, with a 90% share of total imports. It was followed by South Korea (X units), with a 2.8% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +2.0%.

In value terms, China ($X) constituted the largest supplier of non-electronic hydro-, hygro-, psychrometers to Japan, comprising 47% of total imports. The second position in the ranking was taken by South Korea ($X), with a 2.6% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at +6.8%.

Import Prices by Country

The average non-electronic hydro- and hygrometers import price stood at $X per unit in 2021, rising by 4.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.6%. The most prominent rate of growth was recorded in 2020 an increase of 30% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for China totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+11.0%).

Source: IndexBox Platform

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