Solid Fuel Furnace Burner Market

The article discusses the global market trends for furnace burners for solid fuel or gas, forecasting a continued upward consumption trend. It highlights key data such as market performance, expected CAGR, peak volume, value projections, consumption patterns, production volumes, import and export statistics, and major consuming and producing countries. The analysis provides insights into growth rates, fluctuations, and trends over the last decade, emphasizing the importance of key players such as China, Italy, United States, Germany, and the Netherlands in the market.

Market Forecast

Driven by increasing demand for furnace burners for solid fuel or gas worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.6% for the period from 2022 to 2030, which is projected to bring the market volume to 21M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.4% for the period from 2022 to 2030, which is projected to bring the market value to $8.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Furnace Burners For Solid Fuel Or Gas

In 2022, the amount of furnace burners for solid fuel or gas consumed worldwide fell to 17M units, which is down by -6.7% compared with 2021 figures. Overall, the total consumption indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +65.3% against 2013 indices. Over the period under review, global consumption attained the peak volume at 18M units in 2021, and then declined in the following year.

The global solid fuel furnace burner market size contracted to $5.6B in 2022, which is down by -5.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +5.5% against 2020 indices. Over the period under review, the global market hit record highs at $6.1B in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Consumption By Country

The country with the largest volume of solid fuel furnace burner consumption was China (3.4M units), accounting for 20% of total volume. Moreover, solid fuel furnace burner consumption in China exceeded the figures recorded by the second-largest consumer, Italy (1.6M units), twofold. The third position in this ranking was taken by the United States (1.4M units), with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at +5.7%. The remaining consuming countries recorded the following average annual rates of consumption growth: Italy (+17.0% per year) and the United States (+5.4% per year).

In value terms, the United States ($1.4B), Turkey ($941M) and China ($423M) appeared to be the countries with the highest levels of market value in 2022, with a combined 49% share of the global market. Japan, Italy, Mexico, India, Russia, South Korea, the Netherlands, the UK, Iran and Saudi Arabia lagged somewhat behind, together accounting for a further 28%.

The Netherlands, with a CAGR of +28.0%, recorded the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of solid fuel furnace burner per capita consumption was registered in the Netherlands (71 units per 1000 persons), followed by Italy (27 units per 1000 persons), South Korea (7.8 units per 1000 persons) and Saudi Arabia (7.3 units per 1000 persons), while the world average per capita consumption of solid fuel furnace burner was estimated at 2.2 units per 1000 persons.

In the Netherlands, solid fuel furnace burner per capita consumption increased at an average annual rate of +32.4% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Italy (+16.9% per year) and South Korea (+9.6% per year).

Production

World Production of Furnace Burners For Solid Fuel Or Gas

Global solid fuel furnace burner production shrank to 16M units in 2022, with a decrease of -7.8% compared with 2021 figures. In general, the total production indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +60.0% against 2014 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 24%. Over the period under review, global production hit record highs at 17M units in 2021, and then declined in the following year.

In value terms, solid fuel furnace burner production declined to $4.2B in 2022 estimated in export price. Over the period under review, the total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.9% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 19% against the previous year. Global production peaked at $4.8B in 2019; however, from 2020 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (3.8M units), Italy (2M units) and India (1.3M units), together accounting for 46% of global production. The United States, Japan, Russia, Germany, South Korea, Mexico, Turkey, the UK, Iran and Poland lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Turkey (with a CAGR of +28.1%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Furnace Burners For Solid Fuel Or Gas

In 2022, after two years of decline, there was significant growth in purchases abroad of furnace burners for solid fuel or gas, when their volume increased by 8.1% to 4.1M units. The total import volume increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 29%. Over the period under review, global imports reached the peak figure at 4.6M units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, solid fuel furnace burner imports fell modestly to $927M in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 17%. Over the period under review, global imports hit record highs at $1.2B in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports By Country

The Netherlands represented the major importing country with an import of about 1.3M units, which reached 32% of total imports. It was distantly followed by the United States (458K units), making up an 11% share of total imports. Russia (181K units), Indonesia (163K units), China (139K units), Germany (134K units), Slovakia (111K units), Turkey (108K units), Italy (102K units), Canada (65K units) and Malaysia (62K units) held a relatively small share of total imports.

The Netherlands was also the fastest-growing in terms of the furnace burners for solid fuel or gas imports, with a CAGR of +26.0% from 2012 to 2022. At the same time, the United States (+18.3%), Slovakia (+7.9%), Germany (+5.3%) and Indonesia (+2.0%) displayed positive paces of growth. By contrast, Russia (-1.4%), Canada (-1.8%), Turkey (-2.0%), Italy (-2.3%), Malaysia (-2.6%) and China (-7.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Netherlands and the United States increased by +27 and +8.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($90M), Russia ($71M) and the United States ($61M) were the countries with the highest levels of imports in 2022, together comprising 24% of global imports. Germany, Turkey, Canada, Slovakia, Malaysia, Italy, Indonesia and the Netherlands lagged somewhat behind, together accounting for a further 26%.

The Netherlands, with a CAGR of +10.5%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average solid fuel furnace burner import price amounted to $228 per unit, reducing by -8.3% against the previous year. In general, the import price recorded a perceptible slump. The most prominent rate of growth was recorded in 2017 when the average import price increased by 25%. Over the period under review, average import prices reached the peak figure at $346 per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($648 per unit), while the Netherlands ($16 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+8.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Furnace Burners For Solid Fuel Or Gas

In 2022, shipments abroad of furnace burners for solid fuel or gas was finally on the rise to reach 2.6M units after four years of decline. Overall, exports, however, showed a noticeable contraction. The pace of growth was the most pronounced in 2017 with an increase of 25%. The global exports peaked at 3.3M units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, solid fuel furnace burner exports fell to $871M in 2022. In general, exports, however, showed a mild curtailment. The growth pace was the most rapid in 2017 when exports increased by 21%. Over the period under review, the global exports reached the peak figure at $1.1B in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports By Country

The biggest shipments were from China (617K units), Italy (522K units) and Germany (478K units), together reaching 63% of total export. The following exporters - South Korea (109K units), Romania (101K units), Turkey (57K units), Luxembourg (53K units), Taiwan (Chinese) (50K units), the United Arab Emirates (43K units), Poland (42K units) and the Netherlands (40K units) - together made up 19% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the United Arab Emirates (with a CAGR of +13.3%), while the other global leaders experienced more modest paces of growth.

In value terms, Germany ($255M), Italy ($180M) and China ($68M) were the countries with the highest levels of exports in 2022, together comprising 58% of global exports. South Korea, the Netherlands, Luxembourg, Turkey, Romania, Poland, Taiwan (Chinese) and the United Arab Emirates lagged somewhat behind, together comprising a further 14%.

South Korea, with a CAGR of +11.2%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average solid fuel furnace burner export price amounted to $338 per unit, reducing by -14% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 27%. As a result, the export price reached the peak level of $457 per unit. From 2021 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($591 per unit), while Taiwan (Chinese) ($97 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform