ASEAN: Microwave Oven Market 2024

Microwave Oven Market Size in ASEAN

In 2022, the ASEAN microwave oven market decreased by -11.8% to $X, falling for the fourth consecutive year after four years of growth. The total consumption indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.3% 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 -19.0% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Microwave Oven Production in ASEAN

In value terms, microwave oven production reached $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.0% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 38% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Microwave Oven Exports

Exports in ASEAN

In 2022, after two years of growth, there was decline in shipments abroad of microwave ovens, when their volume decreased by -4.4% to X units. Overall, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 17% against the previous year. The volume of export peaked at X units in 2021, and then fell slightly in the following year.

In value terms, microwave oven exports fell to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 26%. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

In 2022, Malaysia (X units) represented the largest exporter of microwave ovens, mixing up 78% of total exports. It was distantly followed by Thailand (X units), making up a 21% share of total exports.

Malaysia was also the fastest-growing in terms of the microwave ovens exports, with a CAGR of +3.1% from 2012 to 2022. Thailand (-4.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Malaysia increased by +16 percentage points.

In value terms, Malaysia ($X) remains the largest microwave oven supplier in ASEAN, comprising 67% of total exports. The second position in the ranking was held by Thailand ($X), with a 32% share of total exports.

In Malaysia, microwave oven exports increased at an average annual rate of +2.6% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, which is down by -1.8% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 19%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+2.1%).

Microwave Oven Imports

Imports in ASEAN

In 2022, imports of microwave ovens in ASEAN rose rapidly to X units, increasing by 5.7% on the year before. Over the period under review, imports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2021 when imports increased by 10% against the previous year. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, microwave oven imports expanded significantly to $X in 2022. The total import value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 14%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

In 2022, Thailand (X units), distantly followed by the Philippines (X units), Malaysia (X units), Vietnam (X units), Singapore (X units) and Indonesia (X units) represented the main importers of microwave ovens, together making up 99% 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 the Philippines (with a CAGR of +9.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) constitutes the largest market for imported microwave ovens in ASEAN, comprising 38% of total imports. The second position in the ranking was taken by the Philippines ($X), with a 17% share of total imports. It was followed by Vietnam, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in Thailand stood at +3.9%. In the other countries, the average annual rates were as follows: the Philippines (+15.3% per year) and Vietnam (-0.1% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per unit, increasing by 2.1% against the previous year. In general, the import price recorded a strong increase. The most prominent rate of growth was recorded in 2014 an increase of 58% against the previous year. The level of import peaked at $X per unit in 2018; however, from 2019 to 2022, 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 Indonesia ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+23.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform