China: Market for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers 2024

Market Size for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers in China

The Chinese market for iron or steel gas domestic cooking appliances and plate warmers declined dramatically to $X in 2022, waning by -30.1% against the previous year. Overall, consumption recorded a noticeable downturn. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers in China

In value terms, production of iron or steel gas domestic cooking appliances and plate warmers expanded slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a noticeable setback. The most prominent rate of growth was recorded in 2016 with an increase of 52% against the previous year. Production of peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Exports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Exports from China

For the fourth consecutive year, China recorded growth in shipments abroad of iron or steel gas domestic cooking appliances and plate warmers, which increased by 256% to X units in 2022. In general, exports continue to indicate a temperate expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of iron or steel gas domestic cooking appliances and plate warmers declined dramatically to $X in 2022. Over the period under review, total exports indicated strong growth 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, exports increased by +33.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 38% against the previous year. As a result, the exports attained the peak of $X, and then shrank dramatically in the following year.

Exports by Country

The United States (X units) was the main destination for exports of iron or steel gas domestic cooking appliances and plate warmers from China, accounting for a 19% share of total exports. Moreover, exports of iron or steel gas domestic cooking appliances and plate warmers to the United States exceeded the volume sent to the second major destination, the Philippines (X units), threefold. The third position in this ranking was taken by Malaysia (X units), with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+15.3% per year) and Malaysia (+0.2% per year).

In value terms, the United States ($X) remains the key foreign market for iron or steel gas domestic cooking appliances and plate warmers exports from China, comprising 36% of total exports. The second position in the ranking was held by Germany ($X), with a 6.8% share of total exports. It was followed by Canada, with a 5% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+19.8% per year) and Canada (+2.9% per year).

Export Prices by Country

The average export price for iron or steel gas domestic cooking appliances and plate warmers stood at $X per unit in 2022, with a decrease of -77% against the previous year. Overall, the export price, however, recorded noticeable growth. The pace of growth was the most pronounced in 2014 when the average export price increased by 280%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2021, and then reduced remarkably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to South Korea ($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 the Philippines (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Imports into China

In 2022, the amount of iron or steel gas domestic cooking appliances and plate warmers imported into China soared to X units, with an increase of 64% compared with 2021 figures. Overall, imports showed a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 164% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, imports of iron or steel gas domestic cooking appliances and plate warmers skyrocketed to $X in 2022. In general, imports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 47% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Japan (X units) constituted the largest iron or steel gas domestic cooking appliances and plate warmers supplier to China, with a 41% share of total imports. Moreover, imports of iron or steel gas domestic cooking appliances and plate warmers from Japan exceeded the figures recorded by the second-largest supplier, Vietnam (X units), twofold. South Korea (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan stood at +55.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+142.4% per year) and South Korea (+4.5% per year).

In value terms, the largest iron or steel gas domestic cooking appliances and plate warmers suppliers to China were Germany ($X), Japan ($X) and Italy ($X), together accounting for 57% of total imports. France, Spain, South Korea and Vietnam lagged somewhat behind, together accounting for a further 24%.

Among the main suppliers, Vietnam, with a CAGR of +77.7%, saw the highest growth rate of the value of imports, 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 iron or steel gas domestic cooking appliances and plate warmers amounted to $X per unit, with a decrease of -29% against the previous year. Overall, the import price recorded a noticeable downturn. The pace of growth appeared the most rapid in 2017 an increase of 58% against the previous year. As a result, import price attained the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a somewhat 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 France ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+43.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform