Asia: Boiler Parts Market 2025

Boiler Parts Market Size in Asia

The Asian boiler parts market shrank slightly to $X in 2021, reducing by -3.4% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the market value increased by 7.5%. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Boiler Parts Production in Asia

In value terms, boiler parts production dropped slightly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 10%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Boiler Parts Exports

Exports in Asia

In 2021, approx. X tons of parts of boilers for central heating were exported in Asia; surging by 31% against the year before. Total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.6% 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 +55.6% 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 soared to $X in 2021. Total exports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +9.6% 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 +88.5% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X tons) represented the major exporter of parts of boilers for central heating, creating 57% of total exports. Turkey (X tons) ranks second in terms of the total exports with a 25% share, followed by Indonesia (8.7%) and South Korea (5.7%).

Exports from China increased at an average annual rate of +9.4% from 2012 to 2021. At the same time, Turkey (+10.3%) and South Korea (+3.0%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of +10.3% from 2012-2021. By contrast, Indonesia (-2.6%) illustrated a downward trend over the same period. While the share of China (+12 p.p.) and Turkey (+6.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Korea (-2.1 p.p.) and Indonesia (-10.9 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest boiler parts supplier in Asia, comprising 62% of total exports. The second position in the ranking was taken by Turkey ($X), with an 18% share of total exports. It was followed by South Korea, with a 9.4% share.

From 2012 to 2021, the average annual growth rate of value in China stood at +11.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+13.5% per year) and South Korea (+5.4% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, rising by 11% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2013 an increase of 17% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was South Korea ($X per ton), while Indonesia ($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

In 2021, purchases abroad of parts of boilers for central heating increased by 34% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports, however, saw a abrupt contraction. 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, continue to indicate a deep slump. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

South Korea (X tons) and Turkey (X tons) were the key importers of parts of boilers for central heating in 2021, reaching near 22% and 17% of total imports, respectively. Turkmenistan (X tons) held a 10% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (9.8%), Kazakhstan (8.6%), China (6.9%) and Iran (5%). Indonesia (X tons), Jordan (X tons), Lebanon (X tons) and Uzbekistan (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Uzbekistan (with a CAGR of +47.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Turkey ($X) and Iran ($X) were the countries with the highest levels of imports in 2021, with a combined 64% share of total imports. China, Kazakhstan, Thailand, Indonesia, Turkmenistan, Uzbekistan, Jordan and Lebanon lagged somewhat behind, together accounting for a further 22%.

Among the main importing countries, Uzbekistan, with a CAGR of +60.6%, recorded 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

In 2021, the import price in Asia amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the import price showed a mild slump. The pace of growth appeared the most rapid in 2016 when the import price increased by 19% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+9.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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