Asia: Super-Heated Water Boiler Market 2024

Super-Heated Water Boiler Market Size in Asia

In 2021, the Asian super-heated water boiler market decreased by -9.1% to $X, falling for the second consecutive year after three years of growth. The market value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Super-Heated Water Boiler Production in Asia

In value terms, super-heated water boiler production declined to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the production volume increased by 29%. Over the period under review, production attained the peak level at $X in 2020, and then contracted in the following year.

Super-Heated Water Boiler Exports

Exports in Asia

In 2021, after two years of growth, there was significant decline in overseas shipments of super-heated water boilers, when their volume decreased by -7.7% to X tons. In general, exports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 68%. Over the period under review, the exports reached the peak figure at X tons in 2020, and then shrank in the following year.

In value terms, super-heated water boiler exports totaled $X in 2021. Over the period under review, exports, however, posted buoyant growth. The growth pace was the most rapid in 2016 with an increase of 39% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

South Korea was the major exporting country with an export of around X tons, which accounted for 57% of total exports. Myanmar (X tons) held the second position in the ranking, followed by India (X tons), the Philippines (X tons) and Turkey (X tons). All these countries together held near 35% share of total exports. China (X tons) followed a long way behind the leaders.

Exports from South Korea increased at an average annual rate of +15.5% from 2012 to 2021. At the same time, the Philippines (+58.4%) and Myanmar (+44.0%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in Asia, with a CAGR of +58.4% from 2012-2021. China and Turkey experienced a relatively flat trend pattern. By contrast, India (-3.9%) illustrated a downward trend over the same period. South Korea (+28 p.p.), Myanmar (+15 p.p.) and the Philippines (+5.7 p.p.) significantly strengthened its position in terms of the total exports, while China, Turkey and India saw its share reduced by -3.5%, -5.8% and -14.2% from 2012 to 2021, respectively.

In value terms, South Korea ($X) remains the largest super-heated water boiler supplier in Asia, comprising 70% of total exports. The second position in the ranking was held by the Philippines ($X), with a 9.2% share of total exports. It was followed by India, with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in South Korea stood at +17.8%. In the other countries, the average annual rates were as follows: the Philippines (+66.2% per year) and India (-7.3% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, surging by 9.1% against the previous year. Export price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, super-heated water boiler export price increased by +23.5% against 2015 indices. The most prominent rate of growth was recorded in 2015 when the export price increased by 44%. Over the period under review, the export prices hit record highs in 2021 and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.0%), while the other leaders experienced more modest paces of growth.

Super-Heated Water Boiler Imports

Imports in Asia

In 2021, overseas purchases of super-heated water boilers decreased by -48.4% to X tons, falling for the second consecutive year after three years of growth. In general, imports, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2015 when imports increased by 174% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, super-heated water boiler imports shrank significantly to $X in 2021. Over the period under review, imports, however, showed a notable expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 109% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Indonesia was the main importing country with an import of around X tons, which resulted at 64% of total imports. It was distantly followed by Bangladesh (X tons), constituting a 12% share of total imports. Vietnam (X tons), Turkey (X tons), Malaysia (X tons), Thailand (X tons) and Uzbekistan (X tons) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to super-heated water boiler imports into Indonesia stood at +25.5%. At the same time, Bangladesh (+39.5%), Vietnam (+35.4%), Thailand (+28.8%), Turkey (+27.0%), Uzbekistan (+25.0%) and Malaysia (+22.6%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Asia, with a CAGR of +39.5% from 2012-2021. While the share of Indonesia (+43 p.p.), Bangladesh (+10 p.p.), Vietnam (+3.1 p.p.), Turkey (+1.9 p.p.) and Thailand (+1.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported super-heated water boilers in Asia, comprising 53% of total imports. The second position in the ranking was taken by Vietnam ($X), with an 11% share of total imports. It was followed by Bangladesh, with a 9.4% share.

In Indonesia, super-heated water boiler imports expanded at an average annual rate of +25.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Vietnam (+46.4% per year) and Bangladesh (+32.2% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, growing by 26% against the previous year. Overall, the import price, however, recorded a deep downturn. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+8.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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