ASEAN: Electric Heating Resistor Market 2025

Electric Heating Resistor Market Size in ASEAN

After three years of decline, the ASEAN electric heating resistor market increased by 20% to $X in 2021. The market value increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2017; afterwards, it flattened through to 2021.

Electric Heating Resistor Production in ASEAN

In value terms, electric heating resistor production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 17% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Electric Heating Resistor Exports

Exports in ASEAN

In 2021, approx. X units of electric heating resistors were exported in ASEAN; with an increase of 17% against the previous year's figure. Overall, exports recorded a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 71% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in years to come.

In value terms, electric heating resistor exports soared to $X in 2021. Over the period under review, exports showed strong growth. The pace of growth appeared the most rapid in 2019 when exports increased by 32%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

Exports by Country

Vietnam prevails in exports structure, accounting for X units, which was approx. 88% of total exports in 2021. Singapore (X units) held a 5.7% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (5.1%).

Vietnam was also the fastest-growing in terms of the electric heating resistors exports, with a CAGR of +12.8% from 2012 to 2021. At the same time, Singapore (+10.9%) displayed positive paces of growth. Thailand experienced a relatively flat trend pattern. While the share of Vietnam (+9.3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Thailand (-8.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest electric heating resistor supplier in ASEAN, comprising 86% of total exports. The second position in the ranking was taken by Singapore ($X), with a 7.5% share of total exports.

In Vietnam, electric heating resistor exports expanded at an average annual rate of +18.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Singapore (+15.0% per year) and Thailand (+2.0% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2021, growing by 2.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.5%. The most prominent rate of growth was recorded in 2013 an increase of 41%. The level of export peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+5.4%), while the other leaders experienced more modest paces of growth.

Electric Heating Resistor Imports

Imports in ASEAN

In 2021, supplies from abroad of electric heating resistors increased by 35% to X units, rising for the sixth year in a row after two years of decline. Over the period under review, imports recorded a prominent increase. The pace of growth appeared the most rapid in 2013 with an increase of 45%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, electric heating resistor imports expanded sharply to $X in 2021. Overall, imports recorded a prominent increase. The pace of growth was the most pronounced in 2016 when imports increased by 33%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Thailand represented the key importing country with an import of about X units, which resulted at 41% of total imports. It was distantly followed by Vietnam (X units), Indonesia (X units), Singapore (X units) and Malaysia (X units), together mixing up a 55% share of total imports. The Philippines (X units) took a little share of total imports.

Imports into Thailand increased at an average annual rate of +18.4% from 2012 to 2021. At the same time, Vietnam (+28.2%), Malaysia (+14.1%), Indonesia (+6.7%) and Singapore (+4.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +28.2% from 2012-2021. By contrast, the Philippines (-4.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Thailand, Vietnam and Malaysia increased by +17, +13 and +1.6 percentage points, respectively.

In value terms, the largest electric heating resistor importing markets in ASEAN were Thailand ($X), Singapore ($X) and Vietnam ($X), with a combined 68% share of total imports. These countries were followed by Malaysia, Indonesia and the Philippines, which together accounted for a further 32%.

The Philippines, with a CAGR of +35.9%, recorded the highest growth rate of the value of imports, in terms of the main importing countries 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 2021, which is down by -19.2% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the import price increased by 43% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+42.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform