Eastern Asia: Heat Exchange Unit Market 2024

Heat Exchange Unit Market Size in Eastern Asia

The East Asian heat exchange unit market fell slightly to $X in 2022, waning by -4.8% against the previous year. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Heat Exchange Unit Production in Eastern Asia

In value terms, heat exchange unit production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 20%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Heat Exchange Unit Exports

Exports in Eastern Asia

In 2022, the amount of heat exchange units exported in Eastern Asia soared to X units, increasing by 32% on 2021 figures. Total exports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, heat exchange unit exports surged to $X in 2022. The total export 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 throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the largest exporting country with an export of about X units, which finished at 64% of total exports. It was distantly followed by South Korea (X units) and Japan (X units), together comprising a 34% share of total exports. Taiwan (Chinese) (X units) held a minor share of total exports.

China was also the fastest-growing in terms of the heat exchange units exports, with a CAGR of +21.9% from 2012 to 2022. Taiwan (Chinese) experienced a relatively flat trend pattern. Japan (-1.8%) and South Korea (-6.2%) illustrated a downward trend over the same period. While the share of China (+51 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (-4.7 p.p.) and South Korea (-46.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest heat exchange unit supplier in Eastern Asia, comprising 57% of total exports. The second position in the ranking was taken by South Korea ($X), with a 20% share of total exports. It was followed by Japan, with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +14.2%. In the other countries, the average annual rates were as follows: South Korea (-4.0% per year) and Japan (+0.1% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, shrinking by -3.5% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 28%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per unit), while South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.5%), while the other leaders experienced more modest paces of growth.

Heat Exchange Unit Imports

Imports in Eastern Asia

In 2022, approx. X units of heat exchange units were imported in Eastern Asia; with a decrease of -7.9% against 2021 figures. Overall, imports recorded a noticeable decline. The most prominent rate of growth was recorded in 2018 when imports increased by 31%. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, heat exchange unit imports fell to $X in 2022. Over the period under review, imports recorded a mild decline. The growth pace was the most rapid in 2021 with an increase of 22%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Japan (X units) and China (X units) represented the major importers of heat exchange units in Eastern Asia, together making up 71% of total imports. Taiwan (Chinese) (X units) took the next position in the ranking, followed by South Korea (X units). All these countries together took near 26% share of total imports. Hong Kong SAR (X units) held a relatively small share 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 Hong Kong SAR (with a CAGR of +14.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest heat exchange unit importing markets in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), together comprising 87% of total imports. These countries were followed by Taiwan (Chinese) and Hong Kong SAR, which together accounted for a further 13%.

In terms of the main importing countries, Hong Kong SAR, with a CAGR of +15.4%, recorded the highest rates of growth with regard to 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, falling by -4.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2020 an increase of 12% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2021, and then fell slightly in the following year.

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 ($X per unit), while Japan ($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 (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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