ASEAN: Vapour Generating Boiler Market 2025

Vapour Generating Boiler Market Size in ASEAN

The ASEAN vapour generating boiler market expanded rapidly to $X in 2021, rising by 10% against the previous year. The total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +53.8% against 2017 indices. The level of consumption peaked in 2021 and is likely to see steady growth in years to come.

Vapour Generating Boiler Production in ASEAN

In value terms, vapour generating boiler production reduced markedly to $X in 2021 estimated in export price. Over the period under review, production, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2020 with an increase of 69%. As a result, production reached the peak level of $X, and then dropped rapidly in the following year.

Vapour Generating Boiler Exports

Exports in ASEAN

In 2021, exports of vapour generating boilers in ASEAN declined significantly to X tons, waning by -26.5% against the year before. Over the period under review, exports showed a abrupt decline. The growth pace was the most rapid in 2015 with an increase of 80%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, vapour generating boiler exports skyrocketed to $X in 2021. In general, exports saw a noticeable slump. The pace of growth appeared the most rapid in 2015 when exports increased by 124% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Thailand represented the major exporting country with an export of around X tons, which amounted to 38% of total exports. It was distantly followed by Malaysia (X tons), Vietnam (X tons), the Philippines (X tons), Indonesia (X tons) and Singapore (X tons), together constituting a 61% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +0.2%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Thailand ($X) remains the largest vapour generating boiler supplier in ASEAN, comprising 61% of total exports. The second position in the ranking was held by Malaysia ($X), with a 13% share of total exports. It was followed by the Philippines, with an 8.6% share.

From 2012 to 2021, the average annual growth rate of value in Thailand stood at +5.3%. In the other countries, the average annual rates were as follows: Malaysia (-17.3% per year) and the Philippines (+11.3% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, rising by 78% against the previous year. Over the period under review, the export price showed resilient growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Thailand ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+11.1%), while the other leaders experienced more modest paces of growth.

Vapour Generating Boiler Imports

Imports in ASEAN

In 2021, supplies from abroad of vapour generating boilers was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 51% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, vapour generating boiler imports surged to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by 54% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Indonesia (X tons) represented the largest importer of vapour generating boilers, achieving 52% of total imports. Malaysia (X tons) held a 16% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (9.6%), Thailand (8%), Cambodia (7%) and Vietnam (5.6%). Singapore (X tons) followed a long way behind the leaders.

Imports into Indonesia decreased at an average annual rate of -1.6% from 2012 to 2021. At the same time, Cambodia (+26.9%), Malaysia (+18.5%) and the Philippines (+2.7%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +26.9% from 2012-2021. By contrast, Singapore (-6.8%), Thailand (-8.0%) and Vietnam (-8.9%) illustrated a downward trend over the same period. While the share of Malaysia (+13 p.p.), Cambodia (+6.2 p.p.) and the Philippines (+2.4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Indonesia (-5.4 p.p.), Vietnam (-6.7 p.p.) and Thailand (-8.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X), Thailand ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 69% of total imports. These countries were followed by Malaysia, the Philippines, Cambodia and Singapore, which together accounted for a further 29%.

Cambodia, with a CAGR of +28.2%, saw the highest growth rate of the value of imports, among 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 ton in 2021, falling by -16.1% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the import price increased by 36%. As a result, import price attained the peak level of $X per ton, and then reduced markedly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Thailand ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform