Malaysia: Market for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers 2024

Market Size for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers in Malaysia

In 2022, the Malaysian market for iron or steel gas domestic cooking appliances and plate warmers decreased by -4.1% to $X, falling for the second year in a row after two years of growth. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers in Malaysia

In value terms, production of iron or steel gas domestic cooking appliances and plate warmers expanded modestly to $X in 2022 estimated in export price. Overall, production recorded a noticeable decline. The pace of growth was the most pronounced in 2016 with an increase of 22% against the previous year. Over the period under review, production of hit record highs at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Exports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Exports from Malaysia

In 2022, overseas shipments of iron or steel gas domestic cooking appliances and plate warmers were finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports, however, saw a deep reduction. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, exports of iron or steel gas domestic cooking appliances and plate warmers expanded markedly to $X in 2022. In general, exports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 22% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam (X units), the United States (X units) and Hong Kong SAR (X units) were the main destinations of exports of iron or steel gas domestic cooking appliances and plate warmers from Malaysia, with a combined 65% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +49.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Hong Kong SAR ($X) and the United States ($X) appeared to be the largest markets for iron or steel gas domestic cooking appliances and plate warmers exported from Malaysia worldwide, together accounting for 58% of total exports.

The United States, with a CAGR of +33.7%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for iron or steel gas domestic cooking appliances and plate warmers stood at $X per unit in 2022, which is down by -11.3% against the previous year. Overall, the export price continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2013 an increase of 32%. Over the period under review, the average export prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to the United States ($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 Saudi Arabia (+1.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Imports into Malaysia

In 2022, overseas purchases of iron or steel gas domestic cooking appliances and plate warmers decreased by -13.8% to X units, falling for the second consecutive year after four years of growth. In general, imports, however, posted a buoyant increase. The pace of growth was the most pronounced in 2014 with an increase of 217% against the previous year. Imports peaked at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of iron or steel gas domestic cooking appliances and plate warmers contracted to $X in 2022. Over the period under review, imports, however, saw a strong increase. The most prominent rate of growth was recorded in 2014 when imports increased by 205% against the previous year. Over the period under review, imports of attained the maximum at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, China (X units) was the main iron or steel gas domestic cooking appliances and plate warmers supplier to Malaysia, with a 97% share of total imports. It was followed by Vietnam (X units), with a 1.4% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China totaled +10.9%.

In value terms, China ($X) constituted the largest supplier of iron or steel gas domestic cooking appliances and plate warmers to Malaysia, comprising 95% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 0.6% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at +14.3%.

Import Prices by Country

The average import price for iron or steel gas domestic cooking appliances and plate warmers stood at $X per unit in 2022, picking up by 7.4% against the previous year. Over the period under review, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for iron or steel gas domestic cooking appliances and plate warmers increased by +62.7% against 2016 indices. The pace of growth appeared the most rapid in 2021 an increase of 29%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

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 China ($X per unit), while the price for Vietnam amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.1%).

Source: IndexBox Platform