Asia: Binocular Market 2022

Binocular Market Size in Asia

In 2021, the Asian binocular market decreased by -10.6% to $X, falling for the second consecutive year after two years of growth. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Binocular Production in Asia

In value terms, binocular production reduced modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 15% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then contracted in the following year.

Binocular Exports

Exports in Asia

Binocular exports surged to X units in 2021, jumping by 26% against the previous year. In general, exports, however, showed a deep reduction. The volume of export peaked at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

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

Exports by Country

China prevails in exports structure, resulting at X units, which was approx. 89% of total exports in 2021. It was distantly followed by Hong Kong SAR (X units), making up a 6% share of total exports. The following exporters - the Philippines (X units) and Japan (X units) - each reached a 3.7% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to binocular exports from China stood at -5.4%. At the same time, the Philippines (+20.5%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in Asia, with a CAGR of +20.5% from 2012-2021. By contrast, Japan (-2.9%) and Hong Kong SAR (-6.9%) illustrated a downward trend over the same period. The Philippines (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest binocular supplier in Asia, comprising 66% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 15% share of total exports. It was followed by Japan, with a 6.7% share.

In China, binocular exports increased at an average annual rate of +3.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (-5.2% per year) and Japan (-4.1% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per unit, rising by 23% against the previous year. Export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, binocular export price increased by +76.5% against 2012 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.3%), while the other leaders experienced more modest paces of growth.

Binocular Imports

Imports in Asia

In 2021, binocular imports in Asia rose notably to X units, with an increase of 6.8% compared with the previous year. Over the period under review, imports, however, saw a pronounced slump. The most prominent rate of growth was recorded in 2013 when imports increased by 29%. As a result, imports attained the peak of X units. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, binocular imports rose slightly to $X in 2021. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when imports increased by 49% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of binocular imports in 2021 were India (X units), Japan (X units), Hong Kong SAR (X units) and Indonesia (X units), together recording 75% of total import. South Korea (X units), the United Arab Emirates (X units), Saudi Arabia (X units), Iran (X units) and Kazakhstan (X units) held a minor share of total imports.

From 2012 to 2021, the biggest increases were in India (with a CAGR of +23.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported binoculars in Asia, comprising 37% of total imports. The second position in the ranking was held by Japan ($X), with an 18% share of total imports. It was followed by Indonesia, with a 13% share.

In Hong Kong SAR, binocular imports increased at an average annual rate of +12.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-2.2% per year) and Indonesia (+38.8% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, which is down by -2.4% against the previous year. Import price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, binocular import price decreased by -15.9% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the import price increased by 36% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Hong Kong SAR ($X per unit), while Iran ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+17.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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