ASEAN: Electric Water Heater Market 2024

Electric Water Heater Market Size in ASEAN

The ASEAN electric water heater market contracted modestly to $X in 2022, leveling off at the previous year. Over the period under review, consumption, however, saw resilient growth. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Electric Water Heater Production in ASEAN

In value terms, electric water heater production fell slightly to $X in 2022 estimated in export price. Overall, production, however, posted buoyant growth. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Electric Water Heater Exports

Exports in ASEAN

In 2022, the amount of electric water heaters and immersion heaters exported in ASEAN shrank remarkably to X units, which is down by X% compared with 2021 figures. Over the period under review, exports, however, showed a noticeable increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X units in 2021, and then dropped remarkably in the following year.

In value terms, electric water heater exports expanded significantly to $X in 2022. Total exports indicated a strong increase 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, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

In 2022, Singapore (X units) and Malaysia (X units) were the major exporters of electric water heaters and immersion heaters in ASEAN, together generating X% of total exports. Vietnam (X units) held the next position in the ranking, distantly followed by Thailand (X units). All these countries together took near X% share of total exports.

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

In value terms, the largest electric water heater supplying countries in ASEAN were Malaysia ($X), Vietnam ($X) and Thailand ($X), with a combined X% share of total exports.

Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries 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 ASEAN stood at $X per unit in 2022, jumping by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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

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

Electric Water Heater Imports

Imports in ASEAN

In 2022, supplies from abroad of electric water heaters and immersion heaters decreased by X% to X units, falling for the second consecutive year after four years of growth. Overall, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of import peaked at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, electric water heater imports totaled $X in 2022. Total imports indicated resilient 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 increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, the Philippines (X units), distantly followed by Malaysia (X units), Thailand (X units), Singapore (X units), Indonesia (X units) and Vietnam (X units) were the largest importers of electric water heaters and immersion heaters, together achieving X% of total imports. Myanmar (X units) held a relatively small share of total imports.

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

In value terms, Indonesia ($X), Vietnam ($X) and Singapore ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Thailand, the Philippines, Malaysia and Myanmar lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, the Philippines, 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

In 2022, the import price in ASEAN amounted to $X per unit, surging by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 Vietnam ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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