South-Eastern Asia: Electric Water Heater Market 2025

Electric Water Heater Market Size in South-Eastern Asia

The Southeast Asian electric water heater market reduced modestly to $X in 2022, leveling off at the previous year. Over the period under review, consumption continues to indicate a resilient increase. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Electric Water Heater Production in South-Eastern Asia

In value terms, electric water heater production shrank slightly to $X in 2022 estimated in export price. Overall, production, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2015 with an increase of 47% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Electric Water Heater Exports

Exports in South-Eastern Asia

In 2022, the amount of electric water heaters and immersion heaters exported in South-Eastern Asia dropped notably to X units, shrinking by -17% on the previous year. In general, exports, however, continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 65%. Over the period under review, the exports reached the peak figure at X units in 2021, and then reduced sharply in the following year.

In value terms, electric water heater exports contracted to $X in 2022. Total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +17.6% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 34%. Over the period under review, the exports attained the peak figure at $X in 2021, and then reduced in the following year.

Exports by Country

Malaysia (X units) and Singapore (X units) represented roughly 73% of total exports in 2022. Vietnam (X units) ranks next in terms of the total exports with an 18% share, followed by Thailand (8%).

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +16.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Vietnam ($X) and Thailand ($X) constituted the countries with the highest levels of exports in 2022, together comprising 93% of total exports.

Vietnam, with a CAGR of +16.3%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per unit, with an increase of 13% against the previous year. In general, the export price, however, continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2020 when the export price increased by 22% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 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 Vietnam ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+2.7%), while the other leaders experienced a decline in the export price figures.

Electric Water Heater Imports

Imports in South-Eastern Asia

In 2022, the amount of electric water heaters and immersion heaters imported in South-Eastern Asia stood at X units, picking up by 7.3% compared with the year before. Overall, imports showed a buoyant expansion. The growth pace was the most rapid in 2017 with an increase of 28%. The volume of import peaked in 2022 and is likely to continue growth in years to come.

In value terms, electric water heater imports stood at $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +74.4% against 2016 indices. The pace of growth appeared the most rapid in 2018 with an increase of 27% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

In 2022, the Philippines (X units) and Malaysia (X units) represented the main importers of electric water heaters and immersion heaters in South-Eastern Asia, together constituting 51% of total imports. Thailand (X units) ranks next in terms of the total imports with a 14% share, followed by Singapore (13%), Vietnam (9.3%) and Indonesia (7.7%). Myanmar (X units) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +26.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Singapore ($X) and Thailand ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 58% of total imports. The Philippines, Vietnam, Malaysia and Myanmar lagged somewhat behind, together comprising a further 40%.

Among the main importing countries, the Philippines, with a CAGR of +24.2%, 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

In 2022, the import price in South-Eastern Asia amounted to $X per unit, which is down by -4.7% against the previous year. In general, the import price showed a mild decline. The growth pace was the most rapid in 2016 when the import price increased by 8%. Over the period under review, import prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+9.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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