New Zealand: Radiator Market 2024

Radiator Market Size in New Zealand

In 2022, the New Zealand radiator market increased by 0.9% to $X, rising for the second year in a row after three years of decline. Overall, consumption, however, showed a noticeable slump. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Radiator Production in New Zealand

In value terms, radiator production fell modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a pronounced downturn. The most prominent rate of growth was recorded in 2015 with an increase of 2.1%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Radiator Exports

Exports from New Zealand

In 2022, overseas shipments of radiators for central heating (not electrically heated) were finally on the rise to reach X kg for the first time since 2016, thus ending a five-year declining trend. Over the period under review, exports, however, recorded a drastic downturn. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, radiator exports surged to $X in 2022. In general, exports, however, continue to indicate a abrupt downturn. The growth pace was the most rapid in 2013 with an increase of 408%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cook Islands (X kg) was the main destination for radiator exports from New Zealand, with a 62% share of total exports. Moreover, radiator exports to Cook Islands exceeded the volume sent to the second major destination, Australia (X kg), threefold. Samoa (X kg) ranked third in terms of total exports with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cook Islands totaled -28.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-19.9% per year) and Samoa (-23.6% per year).

In value terms, Cook Islands ($X), Australia ($X) and Samoa ($X) were the largest markets for radiator exported from New Zealand worldwide, with a combined 86% share of total exports. These countries were followed by Fiji, which accounted for a further 3.9%.

Among the main countries of destination, Fiji, with a CAGR of +8.4%, 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 a decline.

Export Prices by Country

The average radiator export price stood at $X per ton in 2022, shrinking by -42.7% against the previous year. In general, the export price, however, continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2015 when the average export price increased by 181%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained 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 Fiji ($X per ton), while the average price for exports to Cook Islands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ireland (+4,460.1%), while the prices for the other major destinations experienced more modest paces of growth.

Radiator Imports

Imports into New Zealand

In 2022, radiator imports into New Zealand soared to X tons, increasing by 44% compared with the year before. In general, imports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 90% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, radiator imports stood at $X in 2022. Over the period under review, imports posted buoyant growth. The growth pace was the most rapid in 2014 when imports increased by 70%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Italy (X tons) constituted the largest radiator supplier to New Zealand, with a 45% share of total imports. Moreover, radiator imports from Italy exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fourfold. The third position in this ranking was held by Slovenia (X tons), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy totaled +39.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+99.8% per year) and Slovenia (+450.1% per year).

In value terms, Italy ($X), Australia ($X) and the Netherlands ($X) appeared to be the largest radiator suppliers to New Zealand, with a combined 61% share of total imports. Slovenia, Belgium, Turkey, the UK, the Czech Republic and Poland lagged somewhat behind, together accounting for a further 29%.

Among the main suppliers, Slovenia, with a CAGR of +470.8%, recorded the highest rates of growth with regard to 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

In 2022, the average radiator import price amounted to $X per ton, reducing by -26.6% against the previous year. In general, the import price showed a mild descent. The most prominent rate of growth was recorded in 2014 when the average import price increased by 79% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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