South-Eastern Asia: Market for Industrial, Laboratory or Bakery Ovens 2024

Market Size for Industrial, Laboratory or Bakery Ovens in South-Eastern Asia

The Southeast Asian market for industrial, laboratory or bakery ovens soared to $X in 2022, rising by 50% against the previous year. In general, consumption continues to indicate a remarkable increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Production of Industrial, Laboratory or Bakery Ovens in South-Eastern Asia

In value terms, industrial, laboratory or bakery oven production contracted to $X in 2022 estimated in export price. In general, production, however, enjoyed a mild expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 207% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Exports of Industrial, Laboratory or Bakery Ovens

Exports in South-Eastern Asia

In 2022, industrial, laboratory or bakery oven exports in South-Eastern Asia contracted to X units, which is down by -14.8% compared with the year before. Overall, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 43%. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, industrial, laboratory or bakery oven exports declined slightly to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 36%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Singapore represented the major exporting country with an export of about X units, which accounted for 75% of total exports. It was distantly followed by Malaysia (X units), constituting a 22% share of total exports. Indonesia (X units) held a relatively small share of total exports.

Singapore was also the fastest-growing in terms of the industrial, laboratory or bakery ovens exports, with a CAGR of +18.7% from 2012 to 2022. At the same time, Indonesia (+14.9%) displayed positive paces of growth. By contrast, Malaysia (-1.9%) illustrated a downward trend over the same period. While the share of Singapore (+63 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Malaysia (-2.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X), Malaysia ($X) and Indonesia ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 97% share of total exports.

In terms of the main exporting countries, Indonesia, with a CAGR of +10.6%, 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 export price in South-Eastern Asia stood at $X per unit in 2022, with an increase of 12% against the previous year. Export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, industrial, laboratory or bakery oven export price increased by +51.2% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 38%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+3.9%), while the other leaders experienced a decline in the export price figures.

Imports of Industrial, Laboratory or Bakery Ovens

Imports in South-Eastern Asia

In 2022, approx. X units of industrial, laboratory or bakery ovens were imported in South-Eastern Asia; rising by 78% against the previous year's figure. In general, imports posted a strong increase. The most prominent rate of growth was recorded in 2015 when imports increased by 262% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, industrial, laboratory or bakery oven imports surged to $X in 2022. Over the period under review, imports continue to indicate a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Indonesia (X units) represented the major importer of industrial, laboratory or bakery ovens, achieving 66% of total imports. Vietnam (X units) took a 10% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (9.3%) and the Philippines (7.5%). Singapore (X units) and Thailand (X units) held a minor share of total imports.

Indonesia was also the fastest-growing in terms of the industrial, laboratory or bakery ovens imports, with a CAGR of +36.5% from 2012 to 2022. At the same time, the Philippines (+25.9%), Malaysia (+21.6%), Singapore (+7.4%) and Vietnam (+5.8%) displayed positive paces of growth. By contrast, Thailand (-6.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia, the Philippines and Malaysia increased by +50, +3.2 and +1.8 percentage points, respectively.

In value terms, Indonesia ($X) constitutes the largest market for imported industrial, laboratory or bakery ovens in South-Eastern Asia, comprising 62% of total imports. The second position in the ranking was held by Vietnam ($X), with an 18% share of total imports. It was followed by Malaysia, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value in Indonesia totaled +33.0%. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (+8.4% per year) and Malaysia (+12.9% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2022, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, saw a perceptible curtailment. The pace of growth appeared the most rapid in 2016 when the import price increased by 365%. The level of import peaked at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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