South-Eastern Asia: Boiler Parts Market 2024

Boiler Parts Market Size in South-Eastern Asia

In 2021, after two years of growth, there was significant decline in the Southeast Asian boiler parts market, when its value decreased by -6.2% to $X. Overall, consumption recorded a slight reduction. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Boiler Parts Production in South-Eastern Asia

In value terms, boiler parts production shrank to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by 31% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Boiler Parts Exports

Exports in South-Eastern Asia

In 2021, approx. X tons of parts of boilers for central heating were exported in South-Eastern Asia; growing by 105% against 2020. In general, exports, however, showed a pronounced descent. The most prominent rate of growth was recorded in 2016 when exports increased by 131% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, boiler parts exports surged to $X in 2021. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 102%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Indonesia (X tons), together reaching 97% of total export.

Indonesia was also the fastest-growing in terms of the parts of boilers for central heating exports, with a CAGR of -2.6% from 2012 to 2021. Indonesia (+16 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) also remains the largest boiler parts supplier in South-Eastern Asia.

From 2012 to 2021, the average annual growth rate of value in Indonesia totaled +2.9%.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, reducing by -41.2% against the previous year. Overall, the export price, however, enjoyed a moderate expansion. The most prominent rate of growth was recorded in 2020 an increase of 42% against the previous year. As a result, the export price attained the peak level of $X per ton, and then contracted significantly in the following year.

As there is only one major export destination, the average price level is determined by prices for Indonesia.

From 2012 to 2021, the rate of growth in terms of prices for Indonesia amounted to +5.7% per year.

Boiler Parts Imports

Imports in South-Eastern Asia

In 2021, supplies from abroad of parts of boilers for central heating increased by 82% to X tons, rising for the second consecutive year after two years of decline. Overall, imports, however, continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2014 when imports increased by 129% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, boiler parts imports expanded rapidly to $X in 2021. In general, imports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 when imports increased by 85%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Thailand was the key importing country with an import of about X tons, which accounted for 59% of total imports. It was distantly followed by Indonesia (X tons) and the Philippines (X tons), together constituting a 33% share of total imports. Malaysia (X tons) and Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to boiler parts imports into Thailand stood at -8.4%. At the same time, the Philippines (+11.5%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +11.5% from 2012-2021. Singapore experienced a relatively flat trend pattern. By contrast, Malaysia (-11.9%) and Indonesia (-14.6%) illustrated a downward trend over the same period. While the share of Thailand (+7.9 p.p.) and the Philippines (+7.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Indonesia (-15 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest boiler parts importing markets in South-Eastern Asia were Thailand ($X), the Philippines ($X) and Indonesia ($X), with a combined 84% share of total imports.

In terms of the main importing countries, the Philippines, with a CAGR of +17.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, falling by -36.9% against the previous year. Overall, the import price, however, showed modest growth. The pace of growth appeared the most rapid in 2018 when the import price increased by 57% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the Philippines ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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