ASEAN: Metal Gas Appliances Market 2024

Metal Gas Appliances Market Size in ASEAN

In 2022, after two years of growth, there was decline in the ASEAN metal gas appliances market, when its value decreased by -5% to $X. The total consumption indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +69.7% against 2019 indices. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Metal Gas Appliances Production in ASEAN

In value terms, metal gas appliances production reduced slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the production volume increased by 17% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Metal Gas Appliances Exports

Exports in ASEAN

In 2022, overseas shipments of iron or steel gas domestic appliances were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, exports saw a buoyant expansion. The pace of growth was the most pronounced in 2013 with an increase of 48% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, metal gas appliances exports amounted to $X in 2022. Overall, exports saw a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of 70% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Thailand dominates exports structure, reaching X units, which was near 87% of total exports in 2022. Singapore (X units) ranks second in terms of the total exports with a 7.3% share, followed by Vietnam (5.3%).

From 2012 to 2022, average annual rates of growth with regard to metal gas appliances exports from Thailand stood at +11.5%. At the same time, Singapore (+16.6%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +16.6% from 2012-2022. Vietnam experienced a relatively flat trend pattern. While the share of Thailand (+12 p.p.) and Singapore (+3.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Vietnam (-9.2 p.p.) displayed negative dynamics.

In value terms, Thailand ($X) remains the largest metal gas appliances supplier in ASEAN, comprising 94% of total exports. The second position in the ranking was held by Vietnam ($X), with a 3.5% share of total exports.

In Thailand, metal gas appliances exports expanded at an average annual rate of +13.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (-0.1% per year) and Singapore (+32.9% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, flattening at the previous year. Export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal gas appliances export price increased by +55.0% against 2019 indices. The growth pace was the most rapid in 2020 an increase of 58% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a 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 Thailand ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+14.0%), while the other leaders experienced more modest paces of growth.

Metal Gas Appliances Imports

Imports in ASEAN

In 2022, supplies from abroad of iron or steel gas domestic appliances decreased by -33.5% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, imports showed a mild setback. The most prominent rate of growth was recorded in 2019 with an increase of 35% against the previous year. The volume of import peaked at X units in 2021, and then fell significantly in the following year.

In value terms, metal gas appliances imports reached $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 67% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Thailand (X units) and Singapore (X units) represented roughly 71% of total imports in 2022. The Philippines (X units) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (8.1%). The following importers - Myanmar (X units), Vietnam (X units) and Indonesia (X units) - together made up 8% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Myanmar (with a CAGR of +8.7%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Malaysia ($X) constitutes the largest market for imported iron or steel gas domestic appliances in ASEAN, comprising 52% of total imports. The second position in the ranking was held by Thailand ($X), with a 15% share of total imports. It was followed by Vietnam, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Malaysia amounted to +12.4%. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (-5.7% per year) and Vietnam (-7.4% per year).

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2022, jumping by 53% against the previous year. Import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 an increase of 59% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, 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 ($X per unit), while Myanmar ($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 (+20.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform