Indonesia: Boiler Parts Market 2024

Boiler Parts Market Size in Indonesia

In 2021, the Indonesian boiler parts market decreased by -3.4% to $X, falling for the second year in a row after two years of growth. In general, consumption, however, saw a relatively flat trend pattern. Boiler parts consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Boiler Parts Production in Indonesia

In value terms, boiler parts production fell modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 46%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Boiler Parts Exports

Exports from Indonesia

In 2021, exports of parts of boilers for central heating from Indonesia soared to X tons, with an increase of 129% compared with the previous year. Over the period under review, exports, however, showed a noticeable decline. The most prominent rate of growth was recorded in 2016 when exports increased by 269%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, boiler parts exports skyrocketed to $X in 2021. Overall, exports enjoyed tangible growth. The pace of growth was the most pronounced in 2016 when exports increased by 143%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons) was the main destination for boiler parts exports from Indonesia, accounting for a 68% share of total exports. Moreover, boiler parts exports to Vietnam exceeded the volume sent to the second major destination, Japan (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume to Vietnam totaled +57.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-9.5% per year) and Bangladesh (0.0% per year).

In value terms, Vietnam ($X) emerged as the key foreign market for parts of boilers for central heating exports from Indonesia, comprising 68% of total exports. The second position in the ranking was held by Japan ($X), with a 26% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Vietnam stood at +54.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-6.5% per year) and Bangladesh (0.0% per year).

Export Prices by Country

The average boiler parts export price stood at $X per ton in 2021, which is down by -13.8% against the previous year. In general, export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 an increase of 64%. The export price peaked at $X per ton in 2020, and then dropped in the following year.

Average prices varied somewhat for the major export markets. In 2021, the country with the highest price was Bangladesh ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (+31.5%), while the prices for the other major destinations experienced more modest paces of growth.

Boiler Parts Imports

Imports into Indonesia

In 2021, overseas purchases of parts of boilers for central heating increased by 156% to X tons, rising for the second year in a row after three years of decline. Overall, imports, however, faced a abrupt curtailment. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, boiler parts imports surged to $X in 2021. Over the period under review, imports, however, faced a deep reduction. The growth pace was the most rapid in 2020 when imports increased by 61%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of boiler parts to Indonesia, accounting for a 68% share of total imports. Moreover, boiler parts imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. South Korea (X tons) ranked third in terms of total imports with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+24.4% per year) and South Korea (-8.3% per year).

In value terms, the largest boiler parts suppliers to Indonesia were South Korea ($X), China ($X) and India ($X), together comprising 83% of total imports. These countries were followed by Taiwan (Chinese) and Singapore, which together accounted for a further 2.3%.

Taiwan (Chinese), with a CAGR of +29.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average boiler parts import price amounted to $X per ton, declining by -49.5% against the previous year. Over the period under review, the import price, however, posted slight growth. The growth pace was the most rapid in 2019 when the average import price increased by 74% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was South Korea ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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