Global Electric Radiator Market 2024

Electric Radiator Market Size

In 2021, the global electric radiator market increased by 1.9% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the global market remained at a lower figure.

Electric Radiator Production

In value terms, electric radiator production rose remarkably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 29%. Over the period under review, global production reached the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Electric Radiator Exports

Exports

In 2021, overseas shipments of electric radiators and convection heaters were finally on the rise to reach X units after two years of decline. Overall, total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when exports increased by 41% against the previous year. As a result, the exports reached the peak of X units. From 2019 to 2021, the growth of the global exports failed to regain momentum.

In value terms, electric radiator exports surged to $X in 2021. Over the period under review, total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +65.5% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, resulting at X units, which was near 69% of total exports in 2021. Kyrgyzstan (X units) held a 7.8% share (based on physical terms) of total exports, which put it in second place, followed by Germany (5.1%). The following exporters - Malaysia (X units) and the Netherlands (X units) - each resulted at a 3.4% share of total exports.

Exports from China increased at an average annual rate of +5.3% from 2012 to 2021. At the same time, Kyrgyzstan (+225.2%), the Netherlands (+12.4%), Malaysia (+8.6%) and Germany (+2.4%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing exporter exported in the world, with a CAGR of +225.2% from 2012-2021. Kyrgyzstan (+7.8 p.p.) significantly strengthened its position in terms of the global exports, while Germany and China saw its share reduced by -1.8% and -3.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest electric radiator supplier worldwide, comprising 60% of global exports. The second position in the ranking was held by Germany ($X), with a 6% share of global exports. It was followed by Malaysia, with a 4.1% share.

In China, electric radiator exports expanded at an average annual rate of +7.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Germany (-0.3% per year) and Malaysia (+15.3% per year).

Export Prices by Country

The average electric radiator export price stood at $X per unit in 2021, surging by 1.7% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average export price increased by 22% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.6%), while the other global leaders experienced more modest paces of growth.

Electric Radiator Imports

Imports

In 2021, approx. X units of electric radiators and convection heaters were imported worldwide; growing by 23% on 2020. Over the period under review, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +61.4% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, electric radiator imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X units) was the main importer of electric radiators and convection heaters, mixing up 33% of total imports. Thailand (X units) ranks second in terms of the total imports with a 6.5% share, followed by the UK (4.7%). The following importers - Germany (X units), Russia (X units), France (X units), Kazakhstan (X units), the Netherlands (X units), Spain (X units), Japan (X units), Italy (X units), Belgium (X units) and South Korea (X units) - together made up 31% of total imports.

Imports into the United States increased at an average annual rate of +10.0% from 2012 to 2021. At the same time, Kazakhstan (+30.0%), the Netherlands (+12.3%), South Korea (+12.2%), Thailand (+11.5%), Russia (+10.7%), Spain (+9.3%), Belgium (+8.6%), the UK (+4.7%), France (+3.6%), Germany (+2.3%) and Italy (+1.1%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing importer imported in the world, with a CAGR of +30.0% from 2012-2021. By contrast, Japan (-2.4%) illustrated a downward trend over the same period. The United States (+8.3 p.p.), Kazakhstan (+2.9 p.p.) and Thailand (+2.2 p.p.) significantly strengthened its position in terms of the global imports, while Germany and Japan saw its share reduced by -2% and -3.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported electric radiators and convection heaters worldwide, comprising 18% of global imports. The second position in the ranking was taken by Japan ($X), with a 7.9% share of global imports. It was followed by Germany, with a 7.2% share.

From 2012 to 2021, the average annual growth rate of value in the United States amounted to +1.3%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+3.1% per year) and Germany (+5.4% per year).

Import Prices by Country

In 2021, the average electric radiator import price amounted to $X per unit, surging by 7.1% against the previous year. Overall, the import price, however, showed a noticeable downturn. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, 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 Japan ($X per unit), while Kazakhstan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :