Malaysia: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in Malaysia

In 2021, the Malaysian market for instruments for measuring electrical quantities increased by 6.1% to $X, rising for the third year in a row after four years of decline. In general, consumption recorded significant growth. Instruments for measuring electrical quantities consumption peaked in 2021 and is expected to retain growth in years to come.

Production of Instruments for Measuring Electrical Quantities in Malaysia

In value terms, instruments for measuring electrical quantities production reduced rapidly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +73.2% against 2018 indices. The growth pace was the most rapid in 2020 when the production volume increased by 46% against the previous year. As a result, production reached the peak level of $X, and then shrank rapidly in the following year.

Exports of Instruments for Measuring Electrical Quantities

Exports from Malaysia

In 2021, overseas shipments of instruments for measuring electrical quantities decreased by -2.6% to X units, falling for the third consecutive year after two years of growth. Overall, exports recorded a deep downturn. The growth pace was the most rapid in 2018 with an increase of 60% 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, instruments for measuring electrical quantities exports skyrocketed to $X in 2021. Over the period under review, exports saw a deep contraction. The pace of growth appeared the most rapid in 2018 with an increase of 66% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Israel (X units), Japan (X units) and the United States (X units) were the main destinations of instruments for measuring electrical quantities exports from Malaysia, with a combined 38% share of total exports. These countries were followed by Taiwan (Chinese), South Korea, Poland, Germany, Hong Kong SAR, France, Turkey, Finland, Belarus and China, which together accounted for a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +13.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Japan ($X) appeared to be the largest markets for instruments for measuring electrical quantities exported from Malaysia worldwide, with a combined 37% share of total exports. Taiwan (Chinese), South Korea, Hong Kong SAR, Israel, Germany, Poland, Turkey, France, Belarus and Finland lagged somewhat behind, together comprising a further 16%.

Among the main countries of destination, Poland, with a CAGR of +20.6%, recorded the highest rates of growth with regard to 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 export price for instruments for measuring electrical quantities amounted to $X per unit, growing by 36% against the previous year. Overall, the export price recorded a prominent increase. The most prominent rate of growth was recorded in 2019 an increase of 79%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per unit), while the average price for exports to Israel ($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 Hong Kong SAR (+22.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Instruments for Measuring Electrical Quantities

Imports into Malaysia

After two years of decline, purchases abroad of instruments for measuring electrical quantities increased by 178% to X units in 2021. Overall, imports enjoyed prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, instruments for measuring electrical quantities imports soared to $X in 2021. Over the period under review, imports saw a mild expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 31%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of instruments for measuring electrical quantities to Malaysia, with a 33% share of total imports. Moreover, instruments for measuring electrical quantities imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), sevenfold. The third position in this ranking was held by South Korea (X units), with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +27.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-1.8% per year) and South Korea (+55.4% per year).

In value terms, China ($X) constituted the largest supplier of instruments for measuring electrical quantities to Malaysia, comprising 24% of total imports. The second position in the ranking was held by the United States ($X), with a 12% share of total imports. It was followed by Singapore, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-11.2% per year) and Singapore (-0.4% per year).

Import Prices by Country

In 2021, the average import price for instruments for measuring electrical quantities amounted to $X per unit, shrinking by -54.5% against the previous year. Overall, the import price recorded a deep downturn. The pace of growth appeared the most rapid in 2017 when the average import price increased by 20%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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