Malaysia: Electric Radiator Market 2024

Electric Radiator Market Size in Malaysia

In 2021, after two years of growth, there was significant decline in the Malaysian electric radiator market, when its value decreased by -69.4% to $X. Over the period under review, consumption recorded a deep setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Electric Radiator Production in Malaysia

In value terms, electric radiator production fell dramatically to $X in 2021 estimated in export price. Overall, production, however, showed a tangible increase. The most prominent rate of growth was recorded in 2017 with an increase of 78%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Electric Radiator Exports

Exports from Malaysia

In 2021, shipments abroad of electric radiators and convection heaters was finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports enjoyed a prominent increase. The pace of growth appeared the most rapid in 2017 with an increase of 136%. As a result, the exports attained the peak of X units. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, electric radiator exports fell markedly to $X in 2021. Overall, exports posted a remarkable increase. The pace of growth appeared the most rapid in 2017 with an increase of 48%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X units), China (X units) and the United States (X units) were the main destinations of electric radiator exports from Malaysia, together accounting for 58% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +38.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electric radiator exported from Malaysia were the United States ($X), Japan ($X) and China ($X), together accounting for 57% of total exports.

In terms of the main countries of destination, China, with a CAGR of +42.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average electric radiator export price amounted to $X per unit, which is down by -19.9% against the previous year. Over the period under review, the export price, however, posted a resilient increase. The pace of growth appeared the most rapid in 2013 when the average export price increased by 101%. Over the period under review, the average export prices hit record highs at $X per unit in 2020, and then shrank markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the average price for exports to Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Radiator Imports

Imports into Malaysia

In 2021, supplies from abroad of electric radiators and convection heaters decreased by -54.9% to X units, falling for the second consecutive year after two years of growth. In general, imports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2019 when imports increased by 567%. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, electric radiator imports contracted remarkably to $X in 2021. Over the period under review, imports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 378%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) was the main electric radiator supplier to Malaysia, accounting for a 94% share of total imports. It was followed by the United States (X units), with a 2.5% share of total imports. The third position in this ranking was taken by Japan (X units), with a 0.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +25.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.0% per year) and Japan (-25.9% per year).

In value terms, China ($X) constituted the largest supplier of electric radiators and convection heaters to Malaysia, comprising 47% of total imports. The second position in the ranking was taken by Japan ($X), with a 5.8% share of total imports. It was followed by the United States, with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +18.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-6.2% per year) and the United States (-10.6% per year).

Import Prices by Country

In 2021, the average electric radiator import price amounted to $X per unit, picking up by 51% against the previous year. In general, the import price, however, recorded a perceptible descent. The most prominent rate of growth was recorded in 2020 an increase of 105%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+26.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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