Asia-Pacific: Direction Finding Compass Market 2024

Direction Finding Compass Market Size in Asia-Pacific

In 2023, the Asia-Pacific direction finding compass market increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, recorded a abrupt decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Direction Finding Compass Production in Asia-Pacific

In value terms, direction finding compass production contracted slightly to $X in 2023 estimated in export price. Overall, production continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Direction Finding Compass Exports

Exports in Asia-Pacific

In 2023, shipments abroad of direction finding compasses decreased by X% to X units, falling for the sixth consecutive year after two years of growth. In general, exports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, direction finding compass exports amounted to $X in 2023. Total exports indicated a temperate increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2018 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked in 2023 and is likely to continue growth in the near future.

Exports by Country

India represented the key exporter of direction finding compasses in Asia-Pacific, with the volume of exports finishing at X units, which was approx. X% of total exports in 2023. Hong Kong SAR (X units) took a X% share (based on physical terms) of total exports, which put it in second place, followed by China (X%) and Singapore (X%). Thailand (X units), Japan (X units) and Taiwan (Chinese) (X units) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Thailand (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Singapore ($X) were the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Taiwan (Chinese), Hong Kong SAR, Thailand and India lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Thailand, with a CAGR of X%, 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

The export price in Asia-Pacific stood at $X per unit in 2023, with an increase of X% against the previous year. Overall, the export price saw a strong expansion. The most prominent rate of growth was recorded in 2015 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs in 2023 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Japan ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced more modest paces of growth.

Direction Finding Compass Imports

Imports in Asia-Pacific

In 2023, purchases abroad of direction finding compasses increased by X% to X units, rising for the second consecutive year after three years of decline. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when imports increased by X%. The volume of import peaked at X units in 2013; however, from 2014 to 2023, imports failed to regain momentum.

In value terms, direction finding compass imports amounted to $X in 2023. Overall, imports, however, showed a pronounced curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2023, the growth of imports failed to regain momentum.

Imports by Country

In 2023, Singapore (X units) represented the major importer of direction finding compasses, generating X% of total imports. It was distantly followed by Indonesia (X units), India (X units), Thailand (X units), Bangladesh (X units) and Malaysia (X units), together mixing up a X% share of total imports. Vietnam (X units), Australia (X units), Taiwan (Chinese) (X units), the Philippines (X units), South Korea (X units), Japan (X units) and China (X units) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to direction finding compass imports into Singapore stood at X%. At the same time, the Philippines (X%), Bangladesh (X%), Taiwan (Chinese) (X%), India (X%), Indonesia (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2023. Malaysia and South Korea experienced a relatively flat trend pattern. By contrast, Thailand (X%), Australia (X%), Japan (X%) and China (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Singapore, India, Indonesia, Bangladesh, the Philippines and Taiwan (Chinese) increased by X, X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Singapore ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2023, together accounting for X% of total imports. Australia, Indonesia, Japan, Taiwan (Chinese), Vietnam, India, Malaysia, Thailand, Bangladesh and the Philippines lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Bangladesh, with a CAGR of X%, recorded 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 import price in Asia-Pacific stood at $X per unit in 2023, with a decrease of X% against the previous year. Overall, the import price continues to indicate a noticeable contraction. The pace of growth appeared the most rapid in 2017 when the import price increased by X%. The level of import peaked at $X per unit in 2021; however, from 2022 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was China ($X per unit), while Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform