Eastern Asia: Electric Water Heater Market 2025

Electric Water Heater Market Size in Eastern Asia

The East Asian electric water heater market stood at $X in 2022, flattening at the previous year. The total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by +0.4% against 2019 indices. Over the period under review, the market reached the maximum level in 2022 and is likely to continue growth in the immediate term.

Electric Water Heater Production in Eastern Asia

In value terms, electric water heater production shrank modestly to $X in 2022 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 -2.2% against 2019 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 18% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Electric Water Heater Exports

Exports in Eastern Asia

After five years of growth, shipments abroad of electric water heaters and immersion heaters decreased by -12.5% to X units in 2022. Overall, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 54%. Over the period under review, the exports reached the peak figure at X units in 2021, and then declined in the following year.

In value terms, electric water heater exports expanded significantly to $X in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.8% 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 +69.8% against 2015 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 30%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

China dominates exports structure, accounting for X units, which was near 95% of total exports in 2022. South Korea (X units) and Taiwan (Chinese) (X units) took a little share of total exports.

Exports from China increased at an average annual rate of +7.1% from 2012 to 2022. At the same time, Taiwan (Chinese) (+13.4%) and South Korea (+2.8%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +13.4% from 2012-2022. From 2012 to 2022, the share of China increased by +2.3 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest electric water heater supplier in Eastern Asia, comprising 90% of total exports. The second position in the ranking was held by South Korea ($X), with a 5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +5.9%. In the other countries, the average annual rates were as follows: South Korea (+3.4% per year) and Taiwan (Chinese) (+10.3% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, picking up by 20% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 26% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+0.5%), while the other leaders experienced a decline in the export price figures.

Electric Water Heater Imports

Imports in Eastern Asia

After five years of growth, purchases abroad of electric water heaters and immersion heaters decreased by -12.7% to X units in 2022. In general, imports, however, posted resilient growth. The most prominent rate of growth was recorded in 2013 when imports increased by 39% against the previous year. Over the period under review, imports hit record highs at X units in 2021, and then dropped in the following year.

In value terms, electric water heater imports contracted to $X in 2022. Overall, imports, however, saw a resilient increase. The pace of growth appeared the most rapid in 2013 when imports increased by 51%. The level of import peaked at $X in 2021, and then fell modestly in the following year.

Imports by Country

In 2022, Japan (X units), distantly followed by South Korea (X units), Taiwan (Chinese) (X units), Hong Kong SAR (X units) and China (X units) represented the main importers of electric water heaters and immersion heaters, together constituting 99% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Taiwan (Chinese) (with a CAGR of +32.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest electric water heater importing markets in Eastern Asia were Japan ($X), South Korea ($X) and Taiwan (Chinese) ($X), with a combined 74% share of total imports.

Among the main importing countries, Taiwan (Chinese), with a CAGR of +31.2%, 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

The import price in Eastern Asia stood at $X per unit in 2022, increasing by 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2014 when the import price increased by 22% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+5.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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