Australia: Electric Water Heater Market 2024

Electric Water Heater Market Size in Australia

The Australian electric water heater market expanded remarkably to $X in 2022, with an increase of 5.7% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Electric water heater consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Electric Water Heater Production in Australia

In value terms, electric water heater production expanded sharply to $X in 2022 estimated in export price. Overall, production, however, saw a mild downturn. The most prominent rate of growth was recorded in 2020 when the production volume increased by 68%. Electric water heater production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Electric Water Heater Exports

Exports from Australia

In 2022, approx. X units of electric water heaters and immersion heaters were exported from Australia; waning by -18.8% compared with the year before. In general, exports recorded a deep setback. The pace of growth was the most pronounced in 2013 with an increase of 85% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, electric water heater exports reached $X in 2022. Overall, exports continue to indicate a noticeable descent. The most prominent rate of growth was recorded in 2013 with an increase of 80% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

New Zealand (X units) was the main destination for electric water heater exports from Australia, with a 38% share of total exports. Moreover, electric water heater exports to New Zealand exceeded the volume sent to the second major destination, the United States (X units), twofold. The United Arab Emirates (X units) ranked third in terms of total exports with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to New Zealand stood at -5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+14.4% per year) and the United Arab Emirates (-2.0% per year).

In value terms, New Zealand ($X) remains the key foreign market for electric water heaters and immersion heaters exports from Australia, comprising 33% of total exports. The second position in the ranking was taken by South Korea ($X), with a 10% share of total exports. It was followed by the UK, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to New Zealand stood at +4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+6.6% per year) and the UK (-11.0% per year).

Export Prices by Country

In 2022, the average electric water heater export price amounted to $X per unit, with an increase of 29% against the previous year. Overall, export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electric water heater export price increased by +145.7% against 2018 indices. The most prominent rate of growth was recorded in 2016 an increase of 35% against the previous year. The export price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to Japan ($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 Papua New Guinea (+19.0%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Water Heater Imports

Imports into Australia

After two years of growth, purchases abroad of electric water heaters and immersion heaters decreased by -17.7% to X units in 2022. Over the period under review, total imports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when imports increased by 37% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, electric water heater imports soared to $X in 2022. The total import value increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electric water heater to Australia, accounting for a 57% share of total imports. Moreover, electric water heater imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), threefold. The third position in this ranking was taken by Germany (X units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+70.2% per year) and Germany (+3.1% per year).

In value terms, China ($X) constituted the largest supplier of electric water heaters and immersion heaters to Australia, comprising 47% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 23% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+59.6% per year) and Germany (+5.1% per year).

Import Prices by Country

The average electric water heater import price stood at $X per unit in 2022, picking up by 61% against the previous year. In general, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electric water heater import price increased by +95.9% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($X per unit), while the price for Thailand ($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 (+7.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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