Australia: Electric Radiator Market 2024

Electric Radiator Market Size in Australia

The Australian electric radiator market soared to $X in 2021, rising by 16% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +85.0% against 2015 indices. Over the period under review, the market reached the peak level in 2021 and is likely to see steady growth in the near future.

Electric Radiator Exports

Exports from Australia

In 2021, overseas shipments of electric radiators and convection heaters decreased by -42.6% to X units, falling for the third consecutive year after two years of growth. Over the period under review, exports continue to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 when exports increased by 92%. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, electric radiator exports fell modestly to $X in 2021. Overall, exports continue to indicate a abrupt decline. The growth pace was the most rapid in 2017 with an increase of 57%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

New Zealand (X units), the United States (X units) and Hong Kong SAR (X units) were the main destinations of electric radiator exports from Australia, together accounting for 90% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hong Kong SAR (with a CAGR of +74.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electric radiator exported from Australia were the United States ($X), New Zealand ($X) and Hong Kong SAR ($X), together comprising 63% of total exports.

Among the main countries of destination, Hong Kong SAR, with a CAGR of +39.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average electric radiator export price stood at $X per unit in 2021, surging by 67% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Papua New Guinea ($X per unit), while the average price for exports to New Zealand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+18.2%), while the prices for the other major destinations experienced mixed trend patterns.

Electric Radiator Imports

Imports into Australia

In 2021, supplies from abroad of electric radiators and convection heaters was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when imports increased by 23% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, electric radiator imports skyrocketed to $X in 2021. Over the period under review, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +90.3% against 2015 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 28% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, China (X units) was the main supplier of electric radiator to Australia, with a 91% share of total imports. It was followed by Hong Kong SAR (X units), with a 2.8% share of total imports. The third position in this ranking was held by Malaysia (X units), with a 2.2% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+51.0% per year) and Malaysia (+6.1% per year).

In value terms, China ($X) constituted the largest supplier of electric radiators and convection heaters to Australia, comprising 70% of total imports. The second position in the ranking was held by Malaysia ($X), with a 15% share of total imports. It was followed by France, with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+6.2% per year) and France (+2.2% per year).

Import Prices by Country

The average electric radiator import price stood at $X per unit in 2021, reducing by -6.1% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.6%. The most prominent rate of growth was recorded in 2020 an increase of 23% against the previous year. As a result, import price attained the peak level of $X per unit, and then declined in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Malaysia ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :