Malaysia: Measuring Instrument Market 2022

Measuring Instrument Market Size in Malaysia

In 2021, the Malaysian measuring instrument market decreased by -7.4% to $X for the first time since 2016, thus ending a four-year rising trend. In general, consumption showed a remarkable increase. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Measuring Instrument Production in Malaysia

In value terms, measuring instrument production dropped significantly to $X in 2021 estimated in export price. In general, production, however, posted a prominent increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 62% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then reduced markedly in the following year.

Measuring Instrument Exports

Exports from Malaysia

In 2021, overseas shipments of instruments and apparatus for measuring or checking the flow or level of liquids decreased by -30.6% to X units for the first time since 2018, thus ending a two-year rising trend. In general, total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +36.1% against 2016 indices. The growth pace was the most rapid in 2013 when exports increased by 62%. Over the period under review, the exports reached the maximum at X units in 2020, and then declined notably in the following year.

In value terms, measuring instrument exports shrank sharply to $X in 2021. Over the period under review, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 107% against the previous year. As a result, the exports reached the peak of $X, and then reduced sharply in the following year.

Exports by Country

The United States (X units) was the main destination for measuring instrument exports from Malaysia, accounting for a 74% share of total exports. Moreover, measuring instrument exports to the United States exceeded the volume sent to the second major destination, Thailand (X units), sevenfold. The third position in this ranking was taken by Singapore (X units), with a 5.5% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +10.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+59.8% per year) and Singapore (+13.3% per year).

In value terms, the United States ($X), Singapore ($X) and Angola ($X) appeared to be the largest markets for measuring instrument exported from Malaysia worldwide, together accounting for 84% of total exports.

Angola, with a CAGR of +142.6%, recorded the highest rates of growth with regard to the value of exports, in terms of 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, surging by 1.9% 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 +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, measuring instrument export price increased by +86.5% against 2017 indices. The pace of growth appeared the most rapid in 2020 when the average export price increased by 38%. Over the period under review, the average export prices reached the peak figure in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per unit), while the average price for exports to Japan ($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 Singapore (+20.3%), while the prices for the other major destinations experienced more modest paces of growth.

Measuring Instrument Imports

Imports into Malaysia

After three years of decline, purchases abroad of instruments and apparatus for measuring or checking the flow or level of liquids increased by 7.8% to X units in 2021. In general, imports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2013 with an increase of 17% against the previous year. Over the period under review, imports attained the peak figure at X units in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, measuring instrument imports dropped markedly to $X in 2021. Overall, imports, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2019 when imports increased by 37% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

China (X units), Japan (X units) and South Korea (X units) were the main suppliers of measuring instrument imports to Malaysia, together comprising 53% of total imports. The UK, Germany, France, the United States, Norway, Taiwan (Chinese), India, Singapore, Italy and Thailand lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +8.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and India ($X) constituted the largest measuring instrument suppliers to Malaysia, with a combined 41% share of total imports.

In terms of the main suppliers, India, with a CAGR of +6.9%, saw the highest growth rate of 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

The average measuring instrument import price stood at $X per unit in 2021, reducing by -22.8% against the previous year. Over the period under review, import price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.5% 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 2019 an increase of 44%. Over the period under review, average import prices attained the maximum at $X per unit in 2020, and then fell notably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was India ($X per unit), while the price for Taiwan (Chinese) ($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 (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :