Australia: Electric Heating Equipment Market 2024

Electric Heating Equipment Market Size in Australia

The Australian electric heating equipment market skyrocketed to $X in 2022, surging by 17% 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). Overall, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 +117.6% against 2015 indices. Over the period under review, the market reached the peak level in 2022 and is likely to continue growth in years to come.

Electric Heating Equipment Exports

Exports from Australia

For the fifth year in a row, Australia recorded decline in shipments abroad of electric space heating apparatus and soil heating apparatus, which decreased by -14.3% to X units in 2022. Overall, exports recorded a abrupt decline. The pace of growth was the most pronounced in 2017 when exports increased by 151%. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, electric heating equipment exports fell to $X in 2022. In general, exports continue to indicate a abrupt decrease. The growth pace was the most rapid in 2017 with an increase of 85% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units), New Zealand (X units) and India (X units) were the main destinations of electric heating equipment exports from Australia, with a combined 90% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +31.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electric heating equipment exported from Australia were New Zealand ($X), the United States ($X) and India ($X), with a combined 76% share of total exports.

India, with a CAGR of +22.7%, saw 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 mixed trend patterns.

Export Prices by Country

In 2022, the average electric heating equipment export price amounted to $X per unit, increasing by 2% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 56% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Maldives ($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 China (+13.5%), while the prices for the other major destinations experienced mixed trend patterns.

Electric Heating Equipment Imports

Imports into Australia

In 2022, overseas purchases of electric space heating apparatus and soil heating apparatus increased by 2.8% to X units, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 23%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, electric heating equipment imports skyrocketed to $X in 2022. In general, total imports indicated a strong increase 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, imports increased by +127.2% against 2015 indices. The growth pace was the most rapid in 2016 with an increase of 27%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) was the main supplier of electric heating equipment to Australia, with a 92% share of total imports. Moreover, electric heating equipment imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+10.5% per year) and France (+1.6% per year).

In value terms, China ($X) constituted the largest supplier of electric space heating apparatus and soil heating apparatus to Australia, comprising 63% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 24% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+12.1% per year) and France (+3.7% per year).

Import Prices by Country

In 2022, the average electric heating equipment import price amounted to $X per unit, jumping by 16% against the previous year. Over the last decade, it increased at an average annual rate of +4.7%. The pace of growth appeared the most rapid in 2020 when the average import price increased by 23%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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