Asia-Pacific: Boiler Parts Market 2025

Boiler Parts Market Size in Asia-Pacific

In 2021, the Asia-Pacific boiler parts market decreased by -3.8% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 9% against the previous year. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Boiler Parts Production in Asia-Pacific

In value terms, boiler parts production declined to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 11%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Boiler Parts Exports

Exports in Asia-Pacific

In 2021, the amount of parts of boilers for central heating exported in Asia-Pacific soared to X tons, with an increase of 26% on the previous year. Total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +37.1% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, boiler parts exports skyrocketed to $X in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +9.1% 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 +39.1% 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 represented the largest exporting country with an export of about X tons, which reached 77% of total exports. Indonesia (X tons) took the second position in the ranking, followed by South Korea (X tons). All these countries together held approx. 19% share of total exports. India (X tons) took a relatively small share of total exports.

China was also the fastest-growing in terms of the parts of boilers for central heating exports, with a CAGR of +9.4% from 2012 to 2021. At the same time, South Korea (+3.0%) displayed positive paces of growth. By contrast, Indonesia (-2.6%) and India (-3.1%) illustrated a downward trend over the same period. While the share of China (+21 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of India (-1.9 p.p.), South Korea (-2 p.p.) and Indonesia (-12.6 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest boiler parts supplier in Asia-Pacific, comprising 76% of total exports. The second position in the ranking was held by South Korea ($X), with a 12% share of total exports. It was followed by Indonesia, with a 6.9% share.

In China, boiler parts exports expanded at an average annual rate of +11.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (+5.4% per year) and Indonesia (+2.9% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, rising by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.2%. The growth pace was the most rapid in 2013 an increase of 13% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was South Korea ($X per ton), while India ($X per ton) was amongst the lowest.

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

Boiler Parts Imports

Imports in Asia-Pacific

In 2021, overseas purchases of parts of boilers for central heating increased by 25% to X tons, rising for the second consecutive year after two years of decline. Overall, imports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2017 when imports increased by 53% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, boiler parts imports soared to $X in 2021. In general, imports, however, showed a deep slump. The most prominent rate of growth was recorded in 2015 with an increase of 38%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

South Korea was the largest importer of parts of boilers for central heating in Asia-Pacific, with the volume of imports recording X tons, which was near 45% of total imports in 2021. Thailand (X tons) ranks second in terms of the total imports with a 20% share, followed by China (14%) and Indonesia (8.1%). The Philippines (X tons) and Australia (X tons) followed a long way behind the leaders.

South Korea was also the fastest-growing in terms of the parts of boilers for central heating imports, with a CAGR of +17.0% from 2012 to 2021. At the same time, the Philippines (+11.5%) displayed positive paces of growth. By contrast, Australia (-5.3%), China (-7.4%), Thailand (-8.4%) and Indonesia (-14.6%) illustrated a downward trend over the same period. South Korea (+39 p.p.) and the Philippines (+2.5 p.p.) significantly strengthened its position in terms of the total imports, while Thailand and Indonesia saw its share reduced by -3% and -9.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) constitutes the largest market for imported parts of boilers for central heating in Asia-Pacific, comprising 57% of total imports. The second position in the ranking was taken by China ($X), with a 12% share of total imports. It was followed by Thailand, with a 5.6% share.

In South Korea, boiler parts imports expanded at an average annual rate of +21.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: China (-3.6% per year) and Thailand (-11.4% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, with an increase of 2.2% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 26%. The level of import peaked in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Australia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+9.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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