Asia-Pacific: Electrical Signalling Apparatus Market 2023

Electrical Signalling Apparatus Market Size in Asia-Pacific

For the fourth consecutive year, the Asia-Pacific electrical signalling apparatus market recorded decline in sales value, which decreased by -8.1% to $X in 2022. Overall, consumption recorded a perceptible slump. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Electrical Signalling Apparatus Production in Asia-Pacific

In value terms, electrical signalling apparatus production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when the production volume increased by 16% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Electrical Signalling Apparatus Exports

Exports in Asia-Pacific

For the fourth consecutive year, Asia-Pacific recorded growth in shipments abroad of electrical apparatus for sound or visual signalling, which increased by 22% to X units in 2022. In general, exports enjoyed a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of 131% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, electrical signalling apparatus exports rose significantly to $X in 2022. Overall, exports showed a resilient increase. The pace of growth was the most pronounced in 2021 with an increase of 48%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

China dominates exports structure, amounting to X units, which was near 79% of total exports in 2022. It was distantly followed by Vietnam (X units), creating a 7.7% share of total exports. The following exporters - Thailand (X units), Singapore (X units), Hong Kong SAR (X units) and Indonesia (X units) - each recorded an 8% share of total exports.

Exports from China increased at an average annual rate of +27.0% from 2012 to 2022. At the same time, Vietnam (+66.6%), Indonesia (+65.6%) and Singapore (+9.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +66.6% from 2012-2022. By contrast, Thailand (-2.0%) and Hong Kong SAR (-6.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Vietnam and Indonesia increased by +43, +7.5 and +1.6 percentage points, respectively.

In value terms, China ($X) remains the largest electrical signalling apparatus supplier in Asia-Pacific, comprising 63% of total exports. The second position in the ranking was held by Vietnam ($X), with an 18% share of total exports. It was followed by Hong Kong SAR, with a 4.4% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +18.0%. In the other countries, the average annual rates were as follows: Vietnam (+80.9% per year) and Hong Kong SAR (-3.5% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, which is down by -9.2% against the previous year. In general, the export price recorded a perceptible slump. The pace of growth was the most pronounced in 2018 an increase of 21%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+8.6%), while the other leaders experienced more modest paces of growth.

Electrical Signalling Apparatus Imports

Imports in Asia-Pacific

In 2022, supplies from abroad of electrical apparatus for sound or visual signalling increased by 0.7% to X units, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 14%. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, electrical signalling apparatus imports rose sharply to $X in 2022. Total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +25.5% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 29%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Thailand (X units) and Japan (X units) were the key importers of electrical apparatus for sound or visual signalling in 2022, finishing at approx. 22% and 20% of total imports, respectively. South Korea (X units) took a 7.8% share (based on physical terms) of total imports, which put it in second place, followed by Australia (6.9%), Indonesia (6.7%), Singapore (6.6%), China (5.2%), Vietnam (5.1%) and Hong Kong SAR (5.1%). India (X units) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +25.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest electrical signalling apparatus importing markets in Asia-Pacific were Thailand ($X), China ($X) and Japan ($X), together accounting for 42% of total imports. Singapore, Australia, South Korea, Hong Kong SAR, India, Vietnam and Indonesia lagged somewhat behind, together accounting for a further 49%.

In terms of the main importing countries, Vietnam, with a CAGR of +22.9%, recorded the highest rates of growth with regard to 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 import price in Asia-Pacific stood at $X per unit in 2022, rising by 5.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The pace of growth was the most pronounced in 2018 an increase of 13% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+9.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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