Malaysia: Electric Heating Radiator Market 2024

Electric Heating Radiator Market Size in Malaysia

In 2021, the Malaysian electric heating radiator market decreased by -2.4% to $X, falling for the second consecutive year after three years of growth. In general, consumption recorded a buoyant increase. Electric heating radiator consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Electric Heating Radiator Production in Malaysia

In value terms, electric heating radiator production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.9% over the period 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 2014 with an increase of 30%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Electric Heating Radiator Exports

Exports from Malaysia

Electric heating radiator exports from Malaysia fell markedly to X units in 2021, declining by -77.2% on 2020. Over the period under review, exports saw a dramatic contraction. The growth pace was the most rapid in 2015 with an increase of 437%. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, electric heating radiator exports declined dramatically to $X in 2021. Overall, exports faced a abrupt decrease. The most prominent rate of growth was recorded in 2017 with an increase of 197% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China (X units), Australia (X units) and the United States (X units) were the main destinations of electric heating radiator exports from Malaysia, with a combined 79% share of total exports. These countries were followed by Sri Lanka and Singapore, which together accounted for a further 21%.

From 2012 to 2021, the biggest increases were recorded for Sri Lanka (with a CAGR of +84.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Sri Lanka ($X) remains the key foreign market for electric storage heating radiators exports from Malaysia, comprising 61% of total exports. The second position in the ranking was taken by the United States ($X), with a 16% share of total exports. It was followed by Singapore, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Sri Lanka amounted to +99.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+46.7% per year) and Singapore (+8.2% per year).

Export Prices by Country

In 2021, the average electric heating radiator export price amounted to $X per unit, growing by 185% against the previous year. In general, the export price posted a significant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Sri Lanka ($X per unit), while the average price for exports to China ($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 Poland (+91.9%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Heating Radiator Imports

Imports into Malaysia

Electric heating radiator imports into Malaysia was estimated at X units in 2021, standing approx. at the previous year. Overall, imports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2015 with an increase of 296% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, electric heating radiator imports dropped remarkably to $X in 2021. In general, imports recorded a modest expansion. The growth pace was the most rapid in 2018 with an increase of 427% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Vietnam (X units), China (X units) and Japan (X units) were the main suppliers of electric heating radiator imports to Malaysia, together comprising 100% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +101.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) constituted the largest supplier of electric storage heating radiators to Malaysia, comprising 74% of total imports. The second position in the ranking was taken by China ($X), with a 23% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Vietnam amounted to +122.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.4% per year) and Japan (-15.4% per year).

Import Prices by Country

The average electric heating radiator import price stood at $X per unit in 2021, waning by -17.6% against the previous year. Over the period under review, the import price faced a abrupt downturn. The most prominent rate of growth was recorded in 2018 an increase of 95% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+10.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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