Asia-Pacific: Market for Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters 2024

Market Size for Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters in Asia-Pacific

For the third consecutive year, the Asia-Pacific electric oven and cooker market recorded growth in sales value, which increased by 1.3% to $X in 2022. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the near future.

Production of Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters in Asia-Pacific

In value terms, electric oven and cooker production expanded to $X in 2022 estimated in export price. The total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.8% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 74% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters

Exports in Asia-Pacific

After five years of growth, overseas shipments of electric ovens, cookers, cooking plates, boiling rings, grillers and roasters decreased by -18.9% to X units in 2022. Total exports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 16% against the previous year. As a result, the exports reached the peak of X units, and then fell rapidly in the following year.

In value terms, electric oven and cooker exports reduced to $X in 2022. Overall, exports, however, saw a prominent increase. The growth pace was the most rapid in 2021 with an increase of 31% against the previous year. As a result, the exports attained the peak of $X, and then contracted in the following year.

Exports by Country

The biggest shipments were from China (X units), together resulting at 97% of total export.

China was also the fastest-growing in terms of the electric ovens, cookers, cooking plates, boiling rings, grillers and roasters exports, with a CAGR of +4.6% from 2012 to 2022. China (+2.3 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest electric oven and cooker supplier in Asia-Pacific.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +9.0%.

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, rising by 7.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.6%. The most prominent rate of growth was recorded in 2021 when the export price increased by 12%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +4.2% per year.

Imports of Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters

Imports in Asia-Pacific

After two years of growth, supplies from abroad of electric ovens, cookers, cooking plates, boiling rings, grillers and roasters decreased by -33.3% to X units in 2022. Over the period under review, imports, however, continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2018 with an increase of 43%. The volume of import peaked at X units in 2021, and then reduced sharply in the following year.

In value terms, electric oven and cooker imports fell to $X in 2022. Total imports indicated a buoyant 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, imports increased by +79.1% against 2012 indices. The pace of growth appeared the most rapid in 2021 with an increase of 24%. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

Thailand prevails in imports structure, accounting for X units, which was near 63% of total imports in 2022. The Philippines (X units) took an 8.3% share (based on physical terms) of total imports, which put it in second place, followed by Australia (4.8%). Hong Kong SAR (X units), South Korea (X units), Vietnam (X units), Singapore (X units), Malaysia (X units) and Japan (X units) followed a long way behind the leaders.

Thailand was also the fastest-growing in terms of the electric ovens, cookers, cooking plates, boiling rings, grillers and roasters imports, with a CAGR of +28.3% from 2012 to 2022. At the same time, Vietnam (+12.9%), South Korea (+12.2%), Malaysia (+10.9%), the Philippines (+8.7%), Australia (+5.9%), Japan (+1.3%) and Singapore (+1.2%) displayed positive paces of growth. By contrast, Hong Kong SAR (-11.7%) illustrated a downward trend over the same period. While the share of Thailand (+49 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Japan (-2.3 p.p.), Australia (-2.6 p.p.), Singapore (-3.5 p.p.) and Hong Kong SAR (-32.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest electric oven and cooker importing markets in Asia-Pacific were Australia ($X), South Korea ($X) and Vietnam ($X), with a combined 42% share of total imports. Japan, Hong Kong SAR, Thailand, Malaysia, Singapore and the Philippines lagged somewhat behind, together accounting for a further 26%.

Among the main importing countries, the Philippines, with a CAGR of +14.1%, saw the highest rates of growth with regard to the value of imports, 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-Pacific stood at $X per unit in 2022, increasing by 28% against the previous year. Over the period under review, the import price, however, recorded a perceptible contraction. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+9.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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