Southern Asia: Furnace Burner Market 2024

Furnace Burner Market Size in Southern Asia

In 2021, the South Asian furnace burner market decreased by -46.1% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption recorded a deep downturn. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Furnace Burner Production in Southern Asia

In value terms, furnace burner production rose remarkably to $X in 2021 estimated in export price. Overall, production continues to indicate a abrupt descent. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Furnace Burner Exports

Exports in Southern Asia

In 2021, overseas shipments of furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers increased by 20% to X tons, rising for the second consecutive year after two years of decline. Overall, exports posted a buoyant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 84% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, furnace burner exports dropped to $X in 2021. In general, exports recorded a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of 137% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020, and then declined slightly in the following year.

Exports by Country

The biggest shipments were from India (X tons), together finishing at 99.9% of total export.

India was also the fastest-growing in terms of the furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers exports, with a CAGR of +10.4% 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 furnace burner supplier in Southern Asia.

From 2012 to 2021, the average annual growth rate of value in India stood at +8.9%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, waning by -20.1% against the previous year. Overall, the export price saw a slight contraction. The most prominent rate of growth was recorded in 2015 an increase of 56% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat 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 -1.4% per year.

Furnace Burner Imports

Imports in Southern Asia

In 2021, after two years of growth, there was significant decline in purchases abroad of furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers, when their volume decreased by -29.6% to X tons. Total imports indicated slight growth from 2012 to 2021: its volume increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when imports increased by 62%. Over the period under review, imports reached the maximum at X tons in 2020, and then contracted significantly in the following year.

In value terms, furnace burner imports declined rapidly to $X in 2021. In general, imports continue to indicate a pronounced setback. The most prominent rate of growth was recorded in 2019 with an increase of 45%. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

India (X tons) and Pakistan (X tons) represented the largest importers of furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers in 2021, resulting at approx. 47% and 34% of total imports, respectively. It was distantly followed by Bangladesh (X tons), committing a 17% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Pakistan (with a CAGR of +23.2%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, India ($X) constitutes the largest market for imported furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers in Southern Asia, comprising 61% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 26% share of total imports.

In India, furnace burner imports contracted by an average annual rate of -6.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (+15.1% per year) and Bangladesh (+20.7% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, reducing by -18.1% against the previous year. Overall, the import price recorded a pronounced decline. The pace of growth appeared the most rapid in 2015 an increase of 44% 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.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, 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 Bangladesh (-1.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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