Japan Portable Multimeter Market was valued at USD 0.1 Billion in 2022 and is projected to reach USD 0.2 Billion by 2030, growing at a CAGR of 9.0% from 2024 to 2030.
Japan's Portable Multimeter Market: Industry Requirements and Trends
The portable multimeter market in Japan has experienced notable dynamics in recent years, reflecting the country's technological advancements and industrial demands. In 2022, Japan imported approximately 611,000 multimeter units, marking a 3% increase from the previous year. This growth underscores the steady demand for these essential measuring instruments across various sectors. However, the import value stood at $14 million, indicating a slight decline from the peak of $16 million in 2019, suggesting a shift towards more cost-effective solutions or competitive pricing strategies.
Several key suppliers dominate Japan's multimeter import landscape:
China: 398,900 units
Thailand: 128,100 units
Taiwan (Chinese): 58,400 units
On the export front, Japan shipped 186,000 multimeter units in 2022, a 10.1% decrease from the previous year, reflecting challenges in maintaining its export momentum. Nevertheless, the export value saw a 7.5% increase, reaching $10 million, indicating a focus on higher-value products or premium markets.
Japan's top export destinations for multimeters include:
China: 28,700 units
Singapore: 26,700 units
Thailand: 21,300 units
South Korea: 21,300 units
Several renowned brands cater to Japan's multimeter market, each contributing to the industry's diversity and innovation:
Sanwa: Established in 1941, Sanwa offers a range of measuring instruments known for their quality and reliability.
Yokogawa: With a history dating back to 1915, Yokogawa specializes in industrial automation and test measurement solutions.
Kyoritsu: Founded in 1940, Kyoritsu focuses on modern electrical measuring technology, emphasizing environmental sustainability.
Hioki: Since 1935, Hioki has been at the forefront of electrical measuring instruments, providing solutions for research, development, and maintenance.
Compliance with Japan's stringent safety regulations is paramount for multimeter manufacturers. The Act on Product Safety of Electrical Appliances and Materials mandates that electrical devices, including multimeters, obtain the PSE (Product Safety Electrical Appliance & Material) certification. This certification ensures that products meet safety standards, a crucial requirement for market entry and consumer trust.
In my experience working with Japanese industries, the emphasis on precision and reliability in measuring instruments cannot be overstated. Industries such as electronics manufacturing, automotive, and telecommunications demand multimeters that offer high accuracy, durability, and compliance with safety standards. Features like data logging, connectivity, and user-friendly interfaces are increasingly sought after to enhance operational efficiency.
Japan's portable multimeter market is a dynamic landscape shaped by technological innovation, stringent safety standards, and evolving industrial requirements. As industries continue to advance, the demand for precise and reliable measuring instruments remains a critical factor in ensuring quality and efficiency across various sectors.
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Kane International
Kyoritsu
Martindale Electric
METREL
Mors Smitt BV
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Japan Portable Multimeter Market
Digital Multimeters (DMMs)
Analog Multimeters
Clamp Meters
Benchtop Multimeters
Smart Multimeters
Basic Multimeters
Advanced Multimeters
Auto-Ranging Multimeters
Multimeters with Data Logging Capabilities
Wireless/Smart Technology Multimeters
LCD Display
LED Display
OLED Display
Backlit Display
Touchscreen Display
Voltage Measurement
Current Measurement
Resistance Measurement
Capacitance Measurement
Frequency Measurement
Industrial Applications
Automotive Applications
Residential Applications
Telecommunications
Education and Research Institutions
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the Japan Portable Multimeter Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Japan Portable Multimeter Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Japan Portable Multimeter Market, By Type
6. Japan Portable Multimeter Market, By Application
7. Japan Portable Multimeter Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. Japan Portable Multimeter Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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