Asia: Cash Register Market 2023

Cash Register Market Size in Asia

In 2021, the Asian cash register market decreased by -5.8% to $X, falling for the second consecutive year after three years of growth. Over the period under review, consumption, however, saw a notable expansion. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Cash Register Production in Asia

In value terms, cash register production rose modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.1% 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 2015 when the production volume increased by 10% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Cash Register Exports

Exports in Asia

In 2021, approx. X units of cash registers were exported in Asia; rising by 36% on 2020. Total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, cash register exports skyrocketed to $X in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, resulting at X units, which was near 82% of total exports in 2021. It was distantly followed by Taiwan (Chinese) (X units), constituting a 6.5% share of total exports. Malaysia (X units), Singapore (X units) and South Korea (X units) took a relatively small share of total exports.

China was also the fastest-growing in terms of the cash registers exports, with a CAGR of +12.0% from 2012 to 2021. At the same time, Taiwan (Chinese) (+8.1%) displayed positive paces of growth. By contrast, Malaysia (-3.3%), South Korea (-11.1%) and Singapore (-14.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +32 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest cash register supplier in Asia, comprising 73% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 12% share of total exports. It was followed by South Korea, with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +12.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+10.5% per year) and South Korea (+0.1% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per unit, growing by 4.7% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the export price increased by 15% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+12.7%), while the other leaders experienced more modest paces of growth.

Cash Register Imports

Imports in Asia

Cash register imports expanded markedly to X units in 2021, surging by 11% compared with the previous year. Total imports indicated a tangible increase from 2012 to 2021: its volume increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -10.6% against 2019 indices. The growth pace was the most rapid in 2017 when imports increased by 56% against the previous year. Over the period under review, imports attained the peak figure at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, cash register imports rose notably to $X in 2021. The total import value increased at an average annual rate of +2.7% 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 2017 when imports increased by 20% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

India (X units) and Hong Kong SAR (X units) were the key importers of cash registers in 2021, resulting at near 25% and 19% of total imports, respectively. Japan (X units) ranks next in terms of the total imports with a 7.5% share, followed by Malaysia (7.1%), Turkey (7.1%), the United Arab Emirates (5.6%) and South Korea (4.8%). Iran (X units), Singapore (X units), Iraq (X units), Indonesia (X units), Thailand (X units) and Kazakhstan (X units) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Iraq (with a CAGR of +62.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Hong Kong SAR ($X) and Japan ($X) constituted the countries with the highest levels of imports in 2021, with a combined 42% share of total imports. The United Arab Emirates, Turkey, South Korea, Malaysia, Indonesia, Thailand, Singapore, Iran, Kazakhstan and Iraq lagged somewhat behind, together comprising a further 35%.

Iraq, with a CAGR of +34.8%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per unit in 2021, flattening at the previous year. In general, the import price, however, continues to indicate a mild contraction. The pace of growth was the most pronounced in 2016 when the import price increased by 18%. As a result, import price reached the peak level of $X per unit. From 2017 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 Thailand ($X per unit), while Iraq ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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