Australia: Market for Industrial, Laboratory or Bakery Ovens 2024

Market Size for Industrial, Laboratory or Bakery Ovens in Australia

In 2022, the Australian market for industrial, laboratory or bakery ovens increased by 11% to $X, rising for the second consecutive year after three years of decline. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.2% 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 +29.9% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2017; afterwards, it flattened through to 2022.

Production of Industrial, Laboratory or Bakery Ovens in Australia

In value terms, industrial, laboratory or bakery oven production reduced slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.6% against 2017 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 61%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Exports of Industrial, Laboratory or Bakery Ovens

Exports from Australia

In 2022, shipments abroad of industrial, laboratory or bakery ovens decreased by -66.1% to X units, falling for the second consecutive year after two years of growth. In general, exports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of 629% against the previous year. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, industrial, laboratory or bakery oven exports shrank to $X in 2022. Overall, exports, however, enjoyed noticeable growth. The pace of growth appeared the most rapid in 2020 with an increase of 61%. Over the period under review, the exports attained the maximum at $X in 2021, and then shrank in the following year.

Exports by Country

Belgium (X units) was the main destination for industrial, laboratory or bakery oven exports from Australia, accounting for a 45% share of total exports. Moreover, industrial, laboratory or bakery oven exports to Belgium exceeded the volume sent to the second major destination, China (X units), twofold. Russia (X units) ranked third in terms of total exports with an 18% share.

From 2012 to 2022, the average annual growth rate of volume to Belgium totaled +80.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+38.5% per year) and Russia (+47.6% per year).

In value terms, the largest markets for industrial, laboratory or bakery oven exported from Australia were China ($X), Belgium ($X) and Russia ($X), together comprising 75% of total exports.

Belgium, with a CAGR of +55.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for industrial, laboratory or bakery ovens amounted to $X per unit, picking up by 174% against the previous year. Over the period under review, the export price, however, showed a noticeable slump. Over the period under review, the average export prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to Belgium ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Solomon Islands (+1,805.6%), while the prices for the other major destinations experienced a decline.

Imports of Industrial, Laboratory or Bakery Ovens

Imports into Australia

In 2022, purchases abroad of industrial, laboratory or bakery ovens decreased by -7.6% to X units for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2016 when imports increased by 168% against the previous year. As a result, imports reached the peak of X units. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, industrial, laboratory or bakery oven imports soared to $X in 2022. Overall, imports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2016 with an increase of 191% against the previous year. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), Italy (X units) and Finland (X units) were the main suppliers of industrial, laboratory or bakery oven imports to Australia, together accounting for 69% of total imports. The Netherlands, Sweden, Germany, the United States and the UK lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +66.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Finland ($X), China ($X) and Sweden ($X) were the largest industrial, laboratory or bakery oven suppliers to Australia, with a combined 52% share of total imports.

Sweden, with a CAGR of +72.7%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for industrial, laboratory or bakery ovens amounted to $X per unit, growing by 27% against the previous year. In general, the import price, however, saw a perceptible contraction. The growth pace was the most rapid in 2020 an increase of 56%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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