South-Eastern Asia: Electric Heating Equipment Market 2025

Electric Heating Equipment Market Size in South-Eastern Asia

The Southeast Asian electric heating equipment market totaled $X in 2022, approximately equating the previous year. The total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.7% against 2020 indices. The level of consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Electric Heating Equipment Production in South-Eastern Asia

In value terms, electric heating equipment production expanded notably to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 51% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Electric Heating Equipment Exports

Exports in South-Eastern Asia

In 2022, approx. X units of electric space heating apparatus and soil heating apparatus were exported in South-Eastern Asia; dropping by -3.3% against the previous year. In general, exports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 143%. The volume of export peaked at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, electric heating equipment exports rose rapidly to $X in 2022. Over the period under review, exports, however, enjoyed a prominent increase. The growth pace was the most rapid in 2017 when exports increased by 56% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Malaysia (X units) was the main exporter of electric space heating apparatus and soil heating apparatus, achieving 51% of total exports. Thailand (X units) held a 31% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (13%). The Philippines (X units) took a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by the Philippines (with a CAGR of +93.4%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) remains the largest electric heating equipment supplier in South-Eastern Asia, comprising 83% of total exports. The second position in the ranking was held by Thailand ($X), with an 8.8% share of total exports. It was followed by Singapore, with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Malaysia totaled +14.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+17.6% per year) and Singapore (+18.4% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2022, with an increase of 10% against the previous year. In general, the export price, however, showed a mild decrease. The most prominent rate of growth was recorded in 2018 when the export price increased by 116% against the previous year. The level of export peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while Thailand ($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 (+3.3%), while the other leaders experienced a decline in the export price figures.

Electric Heating Equipment Imports

Imports in South-Eastern Asia

In 2022, imports of electric space heating apparatus and soil heating apparatus in South-Eastern Asia contracted remarkably to X units, reducing by -27.3% on 2021. In general, imports, however, enjoyed a resilient expansion. The growth pace was the most rapid in 2021 when imports increased by 60%. As a result, imports reached the peak of X units, and then contracted sharply in the following year.

In value terms, electric heating equipment imports shrank to $X in 2022. Overall, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of 56%. The level of import peaked at $X in 2021, and then reduced in the following year.

Imports by Country

Thailand represented the major importing country with an import of around X units, which recorded 70% of total imports. It was distantly followed by Vietnam (X units) and Malaysia (X units), together achieving a 26% share of total imports. Singapore (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to electric heating equipment imports into Thailand stood at +7.0%. At the same time, Malaysia (+17.3%) and Vietnam (+16.9%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +17.3% from 2012-2022. Singapore experienced a relatively flat trend pattern. From 2012 to 2022, the share of Vietnam and Malaysia increased by +9.2 and +4.5 percentage points, respectively.

In value terms, the largest electric heating equipment importing markets in South-Eastern Asia were Vietnam ($X), Thailand ($X) and Singapore ($X), together accounting for 81% of total imports.

Among the main importing countries, Vietnam, with a CAGR of +19.6%, saw 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 import price in South-Eastern Asia stood at $X per unit in 2022, picking up by 29% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced decrease. The growth pace was the most rapid in 2015 an increase of 32% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the import prices remained at a somewhat 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 Singapore ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+10.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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