Asia: Market for Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam 2024

Market Size for Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam in Asia

The Asian market for central heating boilers, for producing hot water or low pressure steam was finally on the rise to reach $X in 2022, after three years of decline. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam in Asia

In value terms, production of central heating boilers, for producing hot water or low pressure steam reduced slightly to $X in 2022 estimated in export price. Overall, production showed notable growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 57%. Over the period under review, production of hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam

Exports in Asia

In 2022, overseas shipments of central heating boilers, for producing hot water or low pressure steam increased by 11% to X units, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 20%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, exports of central heating boilers, for producing hot water or low pressure steam shrank to $X in 2022. Total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +20.1% against 2018 indices. The growth pace was the most rapid in 2021 with an increase of 24%. As a result, the exports reached the peak of $X, leveling off in the following year.

Exports by Country

Turkey was the largest exporting country with an export of around X units, which resulted at 57% of total exports. China (X units) took a 24% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (14%).

From 2012 to 2022, average annual rates of growth with regard to central heating boilers, for producing hot water or low pressure steam exports from Turkey stood at +2.4%. At the same time, China (+8.0%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Asia, with a CAGR of +8.0% from 2012-2022. South Korea experienced a relatively flat trend pattern. China (+8.8 p.p.) significantly strengthened its position in terms of the total exports, while South Korea and Turkey saw its share reduced by -4.3% and -5.5% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest central heating boilers, for producing hot water or low pressure steam supplier in Asia, comprising 62% of total exports. The second position in the ranking was taken by South Korea ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Turkey stood at +5.2%. In the other countries, the average annual rates were as follows: South Korea (+3.7% per year) and China (+5.1% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, dropping by -10.1% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2014 when the export price increased by 9.9%. The level of export peaked at $X per unit in 2021, and then reduced in the following year.

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 South Korea ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+3.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam

Imports in Asia

In 2022, approx. X units of central heating boilers, for producing hot water or low pressure steam were imported in Asia; approximately mirroring the previous year. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 11%. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of central heating boilers, for producing hot water or low pressure steam fell to $X in 2022. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 21%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

In 2022, China (X units) represented the main importer of central heating boilers, for producing hot water or low pressure steam, constituting 32% of total imports. It was distantly followed by Kazakhstan (X units), Turkey (X units), Uzbekistan (X units) and Azerbaijan (X units), together comprising a 40% share of total imports. Indonesia (X units), Georgia (X units), Armenia (X units) and Turkmenistan (X units) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Uzbekistan (with a CAGR of +26.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported central heating boilers, for producing hot water or low pressure steam in Asia, comprising 39% of total imports. The second position in the ranking was taken by Turkey ($X), with a 16% share of total imports. It was followed by Kazakhstan, with an 8.9% share.

In China, imports of central heating boilers, for producing hot water or low pressure steam expanded at an average annual rate of +5.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Turkey (-7.7% per year) and Kazakhstan (-0.2% per year).

Import Prices by Country

The import price in Asia stood at $X per unit in 2022, declining by -5.5% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 8.6%. The level of import peaked at $X per unit in 2021, and then reduced in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (+8.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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