Southern Asia: Market for Furnace Burners For Solid Fuel Or Gas 2022

Market Size for Furnace Burners For Solid Fuel Or Gas in Southern Asia

The South Asian solid fuel furnace burner market expanded modestly to $X in 2021, picking up by 4.3% against the previous year. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Furnace Burners For Solid Fuel Or Gas in Southern Asia

In value terms, solid fuel furnace burner production reached $X in 2021 estimated in export price. The total production indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +3.5% 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 decreased by -8.3% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of 16%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Furnace Burners For Solid Fuel Or Gas

Exports in Southern Asia

In 2021, shipments abroad of furnace burners for solid fuel or gas increased by 11% to X tons, rising for the second year in a row after two years of decline. In general, exports continue to indicate a prominent expansion. The growth pace was the most rapid in 2017 when exports increased by 174% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, solid fuel furnace burner exports fell to $X in 2021. Over the period under review, exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 181%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The biggest shipments were from India (X tons), together accounting for 100% of total export.

India was also the fastest-growing in terms of the furnace burners for solid fuel or gas exports, with a CAGR of +10.5% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest solid fuel furnace burner supplier in Southern Asia.

From 2012 to 2021, the average annual growth rate of value in India amounted to +9.7%.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, waning by -22.6% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 43%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for India amounted to -0.7% per year.

Imports of Furnace Burners For Solid Fuel Or Gas

Imports in Southern Asia

In 2021, approx. X tons of furnace burners for solid fuel or gas were imported in Southern Asia; with a decrease of -41.8% on 2020. In general, imports showed a slight contraction. The most prominent rate of growth was recorded in 2019 with an increase of 120%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, solid fuel furnace burner imports contracted remarkably to $X in 2021. Overall, imports continue to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2019 with an increase of 79%. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

India was the major importer of furnace burners for solid fuel or gas in Southern Asia, with the volume of imports amounting to X tons, which was approx. 64% of total imports in 2021. Bangladesh (X tons) ranks second in terms of the total imports with a 21% share, followed by Pakistan (13%). Sri Lanka (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to solid fuel furnace burner imports into India stood at -5.1%. At the same time, Bangladesh (+26.3%), Pakistan (+7.7%) and Sri Lanka (+5.4%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +26.3% from 2012-2021. Bangladesh (+19 p.p.) and Pakistan (+6.9 p.p.) significantly strengthened its position in terms of the total imports, while India saw its share reduced by -25.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported furnace burners for solid fuel or gas in Southern Asia, comprising 75% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 12% share of total imports. It was followed by Bangladesh, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in India amounted to -4.1%. In the other countries, the average annual rates were as follows: Pakistan (+6.8% per year) and Bangladesh (+23.9% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, declining by -2.9% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 71% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was India ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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