New Zealand: Non-Electric Industrial Furnace Market 2024

Non-Electric Industrial Furnace Market Size in New Zealand

The New Zealand non-electric industrial furnace market dropped remarkably to $X in 2022, waning by -54.4% against the previous year. In general, consumption continues to indicate a drastic downturn. Non-electric industrial furnace consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Non-Electric Industrial Furnace Production in New Zealand

In value terms, non-electric industrial furnace production reduced to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a deep slump. The most prominent rate of growth was recorded in 2017 with an increase of 25% against the previous year. Non-electric industrial furnace production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Non-Electric Industrial Furnace Exports

Exports from New Zealand

In 2022, overseas shipments of non-electric industrial or laboratory furnaces and ovens increased by 19,359% to X units, rising for the second consecutive year after two years of decline. Overall, exports continue to indicate a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, non-electric industrial furnace exports soared to $X in 2022. Over the period under review, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Australia (X units) was the main destination for non-electric industrial furnace exports from New Zealand, accounting for a approx. 99% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Australia amounted to +65.9%.

In value terms, Australia ($X) also remains the key foreign market for non-electric industrial or laboratory furnaces and ovens exports from New Zealand.

From 2012 to 2022, the average annual growth rate of value to Australia amounted to +74.3%.

Export Prices by Country

In 2022, the average non-electric industrial furnace export price amounted to $X per unit, waning by -35.5% against the previous year. In general, the export price, however, continues to indicate a modest expansion. The pace of growth was the most pronounced in 2014 when the average export price increased by 70%. The export price peaked at $X per unit in 2021, and then declined dramatically in the following year.

As there is only one major export destination, the average price level is determined by prices for Australia.

From 2012 to 2022, the rate of growth in terms of prices for Australia amounted to +5.0% per year.

Non-Electric Industrial Furnace Imports

Imports into New Zealand

In 2022, approx. X units of non-electric industrial or laboratory furnaces and ovens were imported into New Zealand; declining by -43.1% on 2021 figures. Over the period under review, imports showed a noticeable reduction. The pace of growth appeared the most rapid in 2014 with an increase of 111% against the previous year. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, non-electric industrial furnace imports contracted rapidly to $X in 2022. Overall, imports, however, saw modest growth. The most prominent rate of growth was recorded in 2021 with an increase of 135%. As a result, imports attained the peak of $X, and then declined markedly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of non-electric industrial furnace to New Zealand, with a 57% share of total imports. Moreover, non-electric industrial furnace imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), fourfold. Australia (X units) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-8.5% per year) and Australia (+8.4% per year).

In value terms, China ($X), Australia ($X) and Denmark ($X) appeared to be the largest non-electric industrial furnace suppliers to New Zealand, with a combined 75% share of total imports.

Among the main suppliers, Denmark, with a CAGR of +77.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average non-electric industrial furnace import price stood at $X per unit in 2022, reducing by -12% against the previous year. Over the period under review, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-electric industrial furnace import price increased by +86.5% against 2017 indices. The growth pace was the most rapid in 2018 when the average import price increased by 67%. Over the period under review, average import prices hit record highs at $X per unit in 2021, and then reduced in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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