Asia: Electric Radiator Market 2024

Electric Radiator Market Size in Asia

In 2021, the Asian electric radiator market decreased by -15.9% to $X for the first time since 2018, thus ending a two-year rising trend. The total consumption indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Electric Radiator Production in Asia

In value terms, electric radiator production rose significantly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when the production volume increased by 29% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Electric Radiator Exports

Exports in Asia

In 2021, overseas shipments of electric radiators and convection heaters were finally on the rise to reach X units after two years of decline. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 50%. As a result, the exports attained the peak of X units. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, electric radiator exports surged to $X in 2021. Total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +34.6% against 2018 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, amounting to X units, which was approx. 81% of total exports in 2021. It was distantly followed by Kyrgyzstan (X units), mixing up a 9.1% share of total exports. The following exporters - Malaysia (X units) and Turkey (X units) - each recorded a 3.8% share of total exports.

Exports from China increased at an average annual rate of +5.3% from 2012 to 2021. At the same time, Kyrgyzstan (+225.2%) and Malaysia (+8.6%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing exporter exported in Asia, with a CAGR of +225.2% from 2012-2021. By contrast, Turkey (-3.7%) illustrated a downward trend over the same period. While the share of Kyrgyzstan (+9.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Turkey (-2.4 p.p.) and China (-8.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest electric radiator supplier in Asia, comprising 87% of total exports. The second position in the ranking was held by Malaysia ($X), with a 6% share of total exports. It was followed by Turkey, with a 3.2% share.

In China, electric radiator exports expanded at an average annual rate of +7.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Malaysia (+15.3% per year) and Turkey (+1.8% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per unit, surging by 4.9% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by 27%. As a result, the export price attained the peak level of $X per unit. From 2017 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while Kyrgyzstan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+6.2%), while the other leaders experienced more modest paces of growth.

Electric Radiator Imports

Imports in Asia

In 2021, the amount of electric radiators and convection heaters imported in Asia skyrocketed to X units, picking up by 21% against the previous year. Total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +19.8% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 26%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, electric radiator imports soared to $X in 2021. Total imports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 18% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

In 2021, Thailand (X units), distantly followed by Kazakhstan (X units), Japan (X units), South Korea (X units), Iraq (X units) and Vietnam (X units) were the largest importers of electric radiators and convection heaters, together comprising 78% of total imports. Saudi Arabia (X units), India (X units), Taiwan (Chinese) (X units), Israel (X units) and the United Arab Emirates (X units) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of +36.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported electric radiators and convection heaters in Asia, comprising 39% of total imports. The second position in the ranking was held by South Korea ($X), with a 7.9% share of total imports. It was followed by Taiwan (Chinese), with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value in Japan totaled +3.1%. In the other countries, the average annual rates were as follows: South Korea (+14.8% per year) and Taiwan (Chinese) (+10.7% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, with a decrease of -3.2% against the previous year. In general, the import price showed a noticeable contraction. The pace of growth appeared the most rapid in 2019 when the import price increased by 20% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+9.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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