Japan: Heat Exchange Unit Market 2024

Heat Exchange Unit Market Size in Japan

The Japanese heat exchange unit market was estimated at $X in 2022, growing by 13% against the previous year. Overall, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +53.0% against 2017 indices. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Heat Exchange Unit Production in Japan

In value terms, heat exchange unit production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 43%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Heat Exchange Unit Exports

Exports from Japan

In 2022, the amount of heat exchange units exported from Japan expanded to X units, growing by 4.2% on the previous year. In general, exports, however, recorded a mild shrinkage. The growth pace was the most rapid in 2019 with an increase of 37%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, heat exchange unit exports rose rapidly to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 21%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X units), China (X units) and the UK (X units) were the main destinations of heat exchange unit exports from Japan, with a combined 48% share of total exports. Thailand, the Philippines, South Korea, Taiwan (Chinese), Indonesia, Mexico, Australia, India, the Netherlands and France lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +19.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for heat exchange units exports from Japan, comprising 30% of total exports. The second position in the ranking was held by China ($X), with a 12% share of total exports. It was followed by Taiwan (Chinese), with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +6.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-6.4% per year) and Taiwan (Chinese) (+4.9% per year).

Export Prices by Country

In 2022, the average heat exchange unit export price amounted to $X per unit, therefore, remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2016 an increase of 24% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per unit), while the average price for exports to Indonesia ($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 Mexico (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Heat Exchange Unit Imports

Imports into Japan

In 2022, purchases abroad of heat exchange units increased by 66% to X units, rising for the second consecutive year after two years of decline. In general, total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +87.7% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, heat exchange unit imports surged to $X in 2022. The total import value increased at an average annual rate of +4.4% 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

South Korea (X units), China (X units) and Thailand (X units) were the main suppliers of heat exchange unit imports to Japan, together comprising 81% of total imports. These countries were followed by Malaysia, Taiwan (Chinese), Mexico, the United States and Germany, which together accounted for a further 14%.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +23.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest heat exchange unit suppliers to Japan were China ($X), South Korea ($X) and the United States ($X), together comprising 67% of total imports. These countries were followed by Thailand, Malaysia, Germany, Taiwan (Chinese) and Mexico, which together accounted for a further 20%.

Taiwan (Chinese), with a CAGR of +19.0%, 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 2022, the average heat exchange unit import price amounted to $X per unit, waning by -21.2% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average import price increased by 18%. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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