ASEAN: Electric Heating Equipment Market 2024

Electric Heating Equipment Market Size in ASEAN

The ASEAN electric heating equipment market totaled $X in 2022, leveling off at the previous year. The total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Electric Heating Equipment Production in ASEAN

In value terms, electric heating equipment production amounted to $X in 2022 estimated in export price. In general, production enjoyed a perceptible increase. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

Electric Heating Equipment Exports

Exports in ASEAN

In 2022, overseas shipments of electric space heating apparatus and soil heating apparatus increased by X% to X units, rising for the second year in a row after three years of decline. In general, exports saw a strong expansion. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, electric heating equipment exports amounted to $X in 2022. Over the period under review, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2017 when exports increased by X%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Malaysia (X units), Thailand (X units) and Singapore (X units) represented roughly X% of total exports in 2022. It was distantly followed by Vietnam (X units), mixing up a X% share of total exports. The following exporters - Cambodia (X units) and the Philippines (X units) - each finished at a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) remains the largest electric heating equipment supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

In Malaysia, electric heating equipment exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, surging by X% against the previous year. In general, the export price, however, continues to indicate a pronounced decline. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The level of export peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (X%), while the other leaders experienced mixed trends in the export price figures.

Electric Heating Equipment Imports

Imports in ASEAN

In 2022, purchases abroad of electric space heating apparatus and soil heating apparatus decreased by X% to X units for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports, however, posted a resilient increase. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of X units, and then reduced sharply in the following year.

In value terms, electric heating equipment imports reduced slightly to $X in 2022. Total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2019 indices. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Thailand (X units) represented the major importer of electric space heating apparatus and soil heating apparatus, constituting X% of total imports. Malaysia (X units) held the second position in the ranking, distantly followed by Vietnam (X units). All these countries together took approx. X% share of total imports. Singapore (X units) held a relatively small share of total imports.

Imports into Thailand increased at an average annual rate of X% from 2012 to 2022. At the same time, Malaysia (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. Singapore experienced a relatively flat trend pattern. While the share of Malaysia (X p.p.) and Vietnam (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Singapore (X p.p.) and Thailand (X p.p.) displayed negative dynamics.

In value terms, the largest electric heating equipment importing markets in ASEAN were Thailand ($X), Vietnam ($X) and Singapore ($X), together comprising X% of total imports.

Among the main importing countries, Vietnam, with a CAGR of X%, saw 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 ASEAN stood at $X per unit in 2022, picking up by X% against the previous year. In general, the import price, however, recorded a noticeable slump. The growth pace was the most rapid in 2015 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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