Singapore: Electric Heating Radiator Market 2025

Electric Heating Radiator Market Size in Singapore

The Singaporean electric heating radiator market dropped to $X in 2021, waning by -8.7% against the previous year. Over the period under review, consumption recorded a prominent expansion. Electric heating radiator consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Electric Heating Radiator Production in Singapore

In value terms, electric heating radiator production shrank notably to $X in 2021 estimated in export price. Over the period under review, the total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +48.6% against 2016 indices. The growth pace was the most rapid in 2020 with an increase of 43%. As a result, production reached the peak level of $X, and then reduced remarkably in the following year.

Electric Heating Radiator Exports

Exports from Singapore

After four years of decline, overseas shipments of electric storage heating radiators increased by 186% to X units in 2021. Overall, exports, however, recorded a significant curtailment. The pace of growth appeared the most rapid in 2016 when exports increased by 650%. Over the period under review, the exports reached the peak figure at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, electric heating radiator exports plummeted to $X in 2021. Over the period under review, exports, however, showed a sharp downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 919%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Indonesia (X units) was the main destination for electric heating radiator exports from Singapore, accounting for a 47% share of total exports. Moreover, electric heating radiator exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X units), threefold. Thailand (X units) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Indonesia totaled -29.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-26.8% per year) and Thailand (-14.6% per year).

In value terms, the largest markets for electric heating radiator exported from Singapore were Thailand ($X), Indonesia ($X) and Malaysia ($X), with a combined 91% share of total exports. Japan, Hong Kong SAR, India and Jordan lagged somewhat behind, together comprising a further 8.9%.

In terms of the main countries of destination, Jordan, with a CAGR of 0.0%, 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 electric heating radiator export price stood at $X per unit in 2021, reducing by -79% against the previous year. In general, the export price, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2014 when the average export price increased by 478% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2020, and then dropped rapidly in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per unit), while the average price for exports to Jordan ($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 Vietnam (+65.7%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Heating Radiator Imports

Imports into Singapore

In 2021, supplies from abroad of electric storage heating radiators increased by 322% to X units for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, continue to indicate a abrupt setback. The growth pace was the most rapid in 2013 when imports increased by 542%. Over the period under review, imports attained the maximum at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, electric heating radiator imports plummeted to $X in 2021. Overall, imports, however, continue to indicate a sharp decline. The most prominent rate of growth was recorded in 2020 with an increase of 5,722% against the previous year. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

The United States (X units), China (X units) and Malaysia (X units) were the main suppliers of electric heating radiator imports to Singapore, with a combined 88% share of total imports. These countries were followed by Mexico and Germany, which together accounted for a further 10%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +35.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest electric heating radiator suppliers to Singapore were the United States ($X), China ($X) and Malaysia ($X), together accounting for 74% of total imports. Germany and Mexico lagged somewhat behind, together comprising a further 22%.

In terms of the main suppliers, Mexico, with a CAGR of +7.9%, 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 a decline.

Import Prices by Country

The average electric heating radiator import price stood at $X per unit in 2021, with a decrease of -99.8% against the previous year. Over the period under review, the import price continues to indicate a drastic downturn. The growth pace was the most rapid in 2020 an increase of 37,700%. As a result, import price reached the peak level of $X per unit, and then fell sharply in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+62.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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