Australia and Oceania: Non-Electric Industrial Furnace Market 2024

Non-Electric Industrial Furnace Market Size in Australia and Oceania

The non-electric industrial furnace market in Australia and Oceania dropped to $X in 2022, which is down by -7.5% against the previous year. The total consumption indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +5.2% against 2020 indices. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Non-Electric Industrial Furnace Production in Australia and Oceania

In value terms, non-electric industrial furnace production declined to $X in 2022 estimated in export price. In general, production, however, recorded a perceptible expansion. The most prominent rate of growth was recorded in 2016 with an increase of 68% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Non-Electric Industrial Furnace Exports

Exports in Australia and Oceania

In 2022, shipments abroad of non-electric industrial or laboratory furnaces and ovens increased by 99% to X units, rising for the second year in a row after three years of decline. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by 268% against the previous year. The volume of export peaked at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-electric industrial furnace exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate measured growth. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Australia (X units) and New Zealand (X units) represented the key exporter of non-electric industrial or laboratory furnaces and ovens in Australia and Oceania, making up 99.9% of total export.

From 2012 to 2022, the biggest increases were recorded for New Zealand (with a CAGR of +25.5%).

In value terms, the largest non-electric industrial furnace supplying countries in Australia and Oceania were New Zealand ($X) and Australia ($X).

In terms of the main exporting countries, New Zealand, with a CAGR of +27.9%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in Australia and Oceania stood at $X per unit in 2022, rising by 64% against the previous year. In general, the export price continues to indicate a measured increase. The most prominent rate of growth was recorded in 2013 an increase of 93%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per unit), while Australia stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+3.4%).

Non-Electric Industrial Furnace Imports

Imports in Australia and Oceania

In 2022, the amount of non-electric industrial or laboratory furnaces and ovens imported in Australia and Oceania expanded remarkably to X units, increasing by 12% on 2021. Over the period under review, imports, however, showed a abrupt descent. The pace of growth appeared the most rapid in 2015 with an increase of 179%. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, non-electric industrial furnace imports surged to $X in 2022. In general, imports, however, continue to indicate a deep setback. The pace of growth appeared the most rapid in 2015 when imports increased by 173%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Australia represented the largest importing country with an import of around X units, which recorded 59% of total imports. New Zealand (X units) held the second position in the ranking, distantly followed by Papua New Guinea (X units). All these countries together took approx. 29% share of total imports. The following importers - New Caledonia (X units) and Fiji (X units) - together made up 7.2% of total imports.

From 2012 to 2022, average annual rates of growth with regard to non-electric industrial furnace imports into Australia stood at -7.7%. At the same time, New Caledonia (+28.2%) displayed positive paces of growth. Moreover, New Caledonia emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +28.2% from 2012-2022. By contrast, Fiji (-2.1%), New Zealand (-2.7%) and Papua New Guinea (-6.0%) illustrated a downward trend over the same period. New Zealand (+5.6 p.p.) and New Caledonia (+3.6 p.p.) significantly strengthened its position in terms of the total imports, while Australia saw its share reduced by -12.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported non-electric industrial or laboratory furnaces and ovens in Australia and Oceania, comprising 64% of total imports. The second position in the ranking was taken by New Zealand ($X), with an 18% share of total imports. It was followed by Papua New Guinea, with a 9% share.

In Australia, non-electric industrial furnace imports shrank by an average annual rate of -7.9% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: New Zealand (+1.0% per year) and Papua New Guinea (-6.2% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per unit in 2022, with an increase of 2.8% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the import price increased by 39%. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per unit), while New Caledonia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+3.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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