Japan: Thermostat Market 2025

Thermostat Market Size in Japan

The Japanese thermostat market expanded significantly to $X in 2021, increasing by 8.9% against the previous year. Overall, consumption, however, continues to indicate a abrupt contraction. Thermostat consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Thermostat Production in Japan

In value terms, thermostat production soared to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2016 when the production volume increased by 61% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Thermostat Exports

Exports from Japan

In 2021, shipments abroad of thermostats was finally on the rise to reach 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 relatively flat trend pattern. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, thermostat exports surged to $X in 2021. Overall, exports showed a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units), China (X units) and Thailand (X units) were the main destinations of thermostat exports from Japan, with a combined 52% share of total exports. These countries were followed by Hong Kong SAR, Vietnam, Mexico, Indonesia, Canada, the United Arab Emirates, Russia, South Korea and Taiwan (Chinese), which together accounted for a further 31%.

From 2012 to 2021, the biggest increases were recorded for Canada (with a CAGR of +38.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Thailand ($X) appeared to be the largest markets for thermostat exported from Japan worldwide, with a combined 52% share of total exports. Hong Kong SAR, Vietnam, Mexico, Indonesia, Canada, the United Arab Emirates, Russia, South Korea and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 31%.

Among the main countries of destination, Canada, with a CAGR of +39.9%, saw 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

In 2021, the average thermostat export price amounted to $X per unit, with an increase of 7.2% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 10%. The export price peaked in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Vietnam ($X per unit) and Mexico ($X per unit), while the average price for exports to South Korea ($X per unit) and the United Arab Emirates ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+0.7%), while the prices for the other major destinations experienced more modest paces of growth.

Thermostat Imports

Imports into Japan

In 2021, approx. X units of thermostats were imported into Japan; surging by 3.5% on 2020 figures. In general, imports, however, continue to indicate a deep reduction. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, thermostat imports expanded notably to $X in 2021. Overall, imports, however, showed a mild descent. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest thermostat supplier to Japan, with a 36% share of total imports. Moreover, thermostat imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), threefold. The third position in this ranking was taken by Germany (X units), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -14.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+7.9% per year) and Germany (-9.0% per year).

In value terms, China ($X) constituted the largest supplier of thermostats to Japan, comprising 36% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 14% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+15.7% per year) and Germany (-2.4% per year).

Import Prices by Country

The average thermostat import price stood at $X per unit in 2021, surging by 7.2% against the previous year. Overall, import price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, thermostat import price increased by +87.4% against 2012 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 7.2% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Vietnam ($X per unit) and the United States ($X per unit), while the price for Slovenia ($X per unit) and Hong Kong SAR ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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