Malaysia: Electric Heating Equipment Market 2024

Electric Heating Equipment Market Size in Malaysia

The Malaysian electric heating equipment market soared to $X in 2022, increasing by 75% against the previous year. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Electric Heating Equipment Production in Malaysia

In value terms, electric heating equipment production skyrocketed to $X in 2022 estimated in export price. Overall, production showed a strong expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 112%. Electric heating equipment production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Electric Heating Equipment Exports

Exports from Malaysia

Electric heating equipment exports from Malaysia dropped modestly to X units in 2022, waning by -1.7% on 2021 figures. Overall, exports, however, posted strong growth. The pace of growth was the most pronounced in 2017 with an increase of 104%. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, electric heating equipment exports expanded rapidly to $X in 2022. In general, exports, however, showed a prominent increase. The pace of growth appeared the most rapid in 2017 when exports increased by 48% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X units), China (X units) and the United States (X units) were the main destinations of electric heating equipment exports from Malaysia, with a combined 57% share of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +33.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), the United States ($X) and China ($X) appeared to be the largest markets for electric heating equipment exported from Malaysia worldwide, with a combined 58% share of total exports.

China, with a CAGR of +38.7%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average electric heating equipment export price amounted to $X per unit, with an increase of 12% against the previous year. Over the period under review, export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electric heating equipment export price decreased by -9.8% against 2020 indices. The pace of growth appeared the most rapid in 2018 an increase of 51%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to Vietnam ($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 Australia (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Heating Equipment Imports

Imports into Malaysia

In 2022, supplies from abroad of electric space heating apparatus and soil heating apparatus increased by 21% to X units for the first time since 2019, thus ending a two-year declining trend. Overall, imports saw resilient growth. The pace of growth was the most pronounced in 2019 with an increase of 1,136%. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, electric heating equipment imports skyrocketed to $X in 2022. In general, imports recorded a strong increase. The most prominent rate of growth was recorded in 2019 when imports increased by 826%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest electric heating equipment supplier to Malaysia, accounting for a 77% share of total imports. Moreover, electric heating equipment imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), fivefold. Japan (X units) ranked third in terms of total imports with a 1.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +27.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+120.1% per year) and Japan (-10.1% per year).

In value terms, China ($X), Vietnam ($X) and Japan ($X) appeared to be the largest electric heating equipment suppliers to Malaysia, with a combined 64% share of total imports.

In terms of the main suppliers, Vietnam, with a CAGR of +102.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average electric heating equipment import price stood at $X per unit in 2022, flattening at the previous year. Over the period under review, the import price saw a deep slump. The growth pace was the most rapid in 2015 when the average import price increased by 55%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, 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 2022, the most notable rate of growth in terms of prices was attained by Japan (+10.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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