Southern Asia: Thermostat Market 2025

Thermostat Market Size in Southern Asia

The South Asian thermostat market reached $X in 2021, approximately reflecting the previous year. The total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +110.5% against 2013 indices. The level of consumption peaked in 2021 and is expected to retain growth in years to come.

Thermostat Production in Southern Asia

In value terms, thermostat production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed moderate growth. The pace of growth appeared the most rapid in 2015 with an increase of 34%. The level of production peaked at $X in 2020, and then fell in the following year.

Thermostat Exports

Exports in Southern Asia

In 2021, after two years of decline, there was significant growth in shipments abroad of thermostats, when their volume increased by 41% to X units. Over the period under review, exports recorded a prominent expansion. The pace of growth appeared the most rapid in 2013 with an increase of 107% against the previous year. The volume of export peaked at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, thermostat exports soared to $X in 2021. Total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -9.8% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of 39%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

India (X units) represented roughly 100% of total exports in 2021.

India was also the fastest-growing in terms of the thermostats exports, with a CAGR of +11.9% from 2012 to 2021. While the share of India (+3.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest thermostat supplier in Southern Asia.

From 2012 to 2021, the average annual rate of growth in terms of value in India amounted to +6.9%.

Export Prices by Country

The export price in Southern Asia stood at $X per unit in 2021, with a decrease of -17.3% against the previous year. In general, the export price saw a pronounced setback. The pace of growth appeared the most rapid in 2019 an increase of 23%. Over the period under review, the export prices reached the peak figure at $X per unit in 2012; however, from 2013 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 -4.4% per year.

Thermostat Imports

Imports in Southern Asia

In 2021, approx. X units of thermostats were imported in Southern Asia; rising by 46% on the previous year's figure. Over the period under review, imports continue to indicate a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, thermostat imports soared to $X in 2021. Total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

India was the major importing country with an import of about X units, which resulted at 77% of total imports. Bangladesh (X units) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by Pakistan (7.2%).

From 2012 to 2021, average annual rates of growth with regard to thermostat imports into India stood at +13.4%. At the same time, Bangladesh (+58.4%) and Pakistan (+7.0%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +58.4% from 2012-2021. Bangladesh (+14 p.p.) significantly strengthened its position in terms of the total imports, while Pakistan and India saw its share reduced by -6.1% and -7.3% from 2012 to 2021, respectively.

In value terms, India ($X) constitutes the largest market for imported thermostats in Southern Asia, comprising 67% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 14% share of total imports.

In India, thermostat imports increased at an average annual rate of +6.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+21.7% per year) and Pakistan (+6.7% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2021, declining by -9.5% against the previous year. Over the period under review, the import price recorded a abrupt decline. The pace of growth appeared the most rapid in 2016 a decrease of -0.7% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (-0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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