Asia: Market for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers 2024

Market Size for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers in Asia

The Asian market for iron or steel gas domestic cooking appliances and plate warmers reduced to $X in 2022, with a decrease of -10.6% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the market value increased by 9.1% against the previous year. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers in Asia

In value terms, production of iron or steel gas domestic cooking appliances and plate warmers reduced modestly to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 29%. Over the period under review, production of reached the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Exports in Asia

Exports of iron or steel gas domestic cooking appliances and plate warmers surged to X units in 2022, with an increase of 141% against 2021 figures. Over the period under review, exports recorded noticeable growth. The pace of growth was the most pronounced in 2016 with an increase of 168%. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, exports of iron or steel gas domestic cooking appliances and plate warmers contracted dramatically to $X in 2022. Total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.0% 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 +35.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 38% against the previous year. As a result, the exports reached the peak of $X, and then declined significantly in the following year.

Exports by Country

China dominates warmers structure, recording X units, which was approx. 84% of total exports in 2022. It was distantly followed by Turkey (X units), making up a 9.1% share of total exports. India (X units) took a minor share of total exports.

Exports from China increased at an average annual rate of +3.9% from 2012 to 2022. At the same time, India (+21.6%) and Turkey (+5.8%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +21.6% from 2012-2022. From 2012 to 2022, the share of India increased by +3 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest iron or steel gas domestic cooking appliances and plate warmers supplier in Asia, comprising 78% of total exports. The second position in the ranking was held by Turkey ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China amounted to +6.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+4.7% per year) and India (+22.6% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, with a decrease of -64.9% against the previous year. In general, the export price, however, posted a modest expansion. The growth pace was the most rapid in 2014 when the export price increased by 186% against the previous year. The level of export peaked at $X per unit in 2021, and then declined dramatically 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 Turkey ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.1%), while the other leaders experienced mixed trends in the export price figures.

Imports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Imports in Asia

In 2022, the amount of iron or steel gas domestic cooking appliances and plate warmers imported in Asia fell modestly to X units, with a decrease of -4.5% against 2021. The total import volume increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by 21% against the previous year. 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 iron or steel gas domestic cooking appliances and plate warmers contracted to $X in 2022. The total import value increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 24% against the previous year. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

Thailand (X units) and the Philippines (X units) were the key importers of iron or steel gas domestic cooking appliances and plate warmers in 2022, resulting at approx. 25% and 18% of total imports, respectively. Iraq (X units) held a 7.3% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (5.9%). Myanmar (X units), Israel (X units), Malaysia (X units), Hong Kong SAR (X units), India (X units), Singapore (X units), China (X units), Kuwait (X units) and Azerbaijan (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Myanmar (with a CAGR of +52.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Iraq ($X), the United Arab Emirates ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 28% of total imports. Israel, Thailand, the Philippines, Hong Kong SAR, India, China, Kuwait, Singapore, Azerbaijan and Myanmar lagged somewhat behind, together comprising a further 30%.

Azerbaijan, with a CAGR of +18.5%, saw the highest rates of growth with regard to the value of imports, in terms of 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 Asia stood at $X per unit in 2022, falling by -5.2% against the previous year. Import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for iron or steel gas domestic cooking appliances and plate warmers increased by +57.7% against 2017 indices. The pace of growth appeared the most rapid in 2021 an increase of 19%. As a result, import price reached the peak level of $X per unit, and then fell in the following year.

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 India (+19.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform