Asia-Pacific: Electric Radiator Market 2024

Electric Radiator Market Size in Asia-Pacific

After two years of growth, the Asia-Pacific electric radiator market decreased by -29% to $X in 2021. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Electric Radiator Production in Asia-Pacific

In value terms, electric radiator production dropped modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 23%. Over the period under review, production reached the maximum level at $X in 2020, and then declined in the following year.

Electric Radiator Exports

Exports in Asia-Pacific

In 2021, overseas shipments of electric radiators and convection heaters were finally on the rise to reach X units after two years of decline. In general, exports recorded buoyant growth. The pace of growth appeared the most rapid in 2018 with an increase of 137% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, electric radiator exports soared to $X in 2021. Total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.3% 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 +34.2% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, accounting for X units, which was near 91% of total exports in 2021. The following exporters - Malaysia (X units), Singapore (X units) and South Korea (X units) - each finished at a 5.4% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to electric radiator exports from China stood at +5.3%. At the same time, Singapore (+36.2%), South Korea (+10.4%) and Malaysia (+8.6%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +36.2% from 2012-2021. While the share of China (-2.8 p.p.) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest electric radiator supplier in Asia-Pacific, comprising 90% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 6.2% share of total exports. It was followed by South Korea, with a 1.4% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +7.2%. In the other countries, the average annual rates were as follows: Malaysia (+15.3% per year) and South Korea (+10.2% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2021, surging by 5.5% against the previous year. Overall, the export price showed a modest expansion. The pace of growth appeared the most rapid in 2016 when the export price increased by 87%. The level of export peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while Singapore ($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 mixed trends in the export price figures.

Electric Radiator Imports

Imports in Asia-Pacific

In 2021, the amount of electric radiators and convection heaters imported in Asia-Pacific surged to X units, rising by 17% on the previous year's figure. Total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.7% 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 +9.6% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 34% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, electric radiator imports skyrocketed to $X in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -6.7% against 2019 indices. The pace of growth was the most pronounced in 2018 when imports increased by 28%. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Thailand represented the main importer of electric radiators and convection heaters in Asia-Pacific, with the volume of imports reaching X units, which was approx. 40% of total imports in 2021. Japan (X units) took an 18% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (10%), Australia (7.8%) and Vietnam (7.3%). India (X units) and Taiwan (Chinese) (X units) followed a long way behind the leaders.

Imports into Thailand increased at an average annual rate of +11.5% from 2012 to 2021. At the same time, Vietnam (+36.9%), South Korea (+12.2%), India (+8.8%), Taiwan (Chinese) (+7.3%) and Australia (+2.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +36.9% from 2012-2021. By contrast, Japan (-2.4%) illustrated a downward trend over the same period. Thailand (+15 p.p.), Vietnam (+6.6 p.p.) and South Korea (+4.2 p.p.) significantly strengthened its position in terms of the total imports, while Australia and Japan saw its share reduced by -2.6% and -19.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported electric radiators and convection heaters in Asia-Pacific, comprising 44% of total imports. The second position in the ranking was held by Australia ($X), with an 11% share of total imports. It was followed by South Korea, with an 8.9% share.

In Japan, electric radiator imports expanded at an average annual rate of +3.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Australia (+6.0% per year) and South Korea (+14.8% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2021, standing approx. at the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced 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 failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+5.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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