Malaysia: Electric Water Heater Market 2025

Electric Water Heater Market Size in Malaysia

The Malaysian electric water heater market was finally on the rise to reach $X in 2022, after four years of decline. In general, consumption, however, recorded a noticeable decline. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Electric Water Heater Production in Malaysia

In value terms, electric water heater production contracted to $X in 2022 estimated in export price. In general, production continues to indicate a slight slump. The most prominent rate of growth was recorded in 2017 when the production volume increased by 35% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Electric Water Heater Exports

Exports from Malaysia

In 2022, the amount of electric water heaters and immersion heaters exported from Malaysia dropped significantly to X units, falling by -19.9% compared with 2021. Overall, exports, however, showed a measured increase. The pace of growth was the most pronounced in 2017 when exports increased by 86%. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, electric water heater exports declined to $X in 2022. In general, total exports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +16.9% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 58%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The UK (X units), the United States (X units) and Singapore (X units) were the main destinations of electric water heater exports from Malaysia, with a combined 52% share of total exports. Thailand, the Philippines, Vietnam and Turkey lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +142.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electric water heater exported from Malaysia were Thailand ($X), Vietnam ($X) and Singapore ($X), together comprising 52% of total exports. The United States, the Philippines, the UK and Turkey lagged somewhat behind, together accounting for a further 34%.

In terms of the main countries of destination, Turkey, with a CAGR of +103.4%, recorded the highest rates of growth with regard to 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

The average electric water heater export price stood at $X per unit in 2022, rising by 9% against the previous year. Overall, the export price, however, recorded a perceptible descent. The pace of growth was the most pronounced in 2018 an increase of 18% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while the average price for exports to Turkey ($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 the United States (-0.7%), while the prices for the other major destinations experienced a decline.

Electric Water Heater Imports

Imports into Malaysia

For the sixth consecutive year, Malaysia recorded growth in purchases abroad of electric water heaters and immersion heaters, which increased by 15% to X units in 2022. Overall, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 111% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, electric water heater imports rose modestly to $X in 2022. In general, imports posted a resilient expansion. The pace of growth was the most pronounced in 2020 with an increase of 58%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) was the main supplier of electric water heater to Malaysia, with a 90% share of total imports. It was followed by the UK (X units), with a 2% share of total imports. The third position in this ranking was taken by Taiwan (Chinese) (X units), with a 1.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +28.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+15.8% per year) and Taiwan (Chinese) (+49.3% per year).

In value terms, China ($X) constituted the largest supplier of electric water heaters and immersion heaters to Malaysia, comprising 61% of total imports. The second position in the ranking was taken by the United States ($X), with a 16% share of total imports. It was followed by the UK, with a 1.9% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+21.3% per year) and the UK (+6.9% per year).

Import Prices by Country

In 2022, the average electric water heater import price amounted to $X per unit, shrinking by -9.1% against the previous year. In general, the import price saw a deep slump. The most prominent rate of growth was recorded in 2016 an increase of 20%. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the average import prices remained at a lower figure.

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 the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (-7.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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