ASEAN: Market for Furnace Burners For Solid Fuel Or Gas 2024

Market Size for Furnace Burners For Solid Fuel Or Gas in ASEAN

In 2022, the ASEAN solid fuel furnace burner market decreased by X% to $X, falling for the third consecutive year after two years of growth. In general, consumption, however, showed a noticeable increase. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Furnace Burners For Solid Fuel Or Gas in ASEAN

In value terms, solid fuel furnace burner production declined modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate strong growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Furnace Burners For Solid Fuel Or Gas

Exports in ASEAN

Solid fuel furnace burner exports surged to X units in 2022, jumping by X% compared with 2021 figures. Over the period under review, exports, however, continue to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, solid fuel furnace burner exports surged to $X in 2022. Overall, exports recorded perceptible growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Malaysia was the main exporter of furnace burners for solid fuel or gas in ASEAN, with the volume of exports reaching X units, which was approx. X% of total exports in 2022. Singapore (X units) ranks second in terms of the total exports with a X% share, followed by Vietnam (X%). Indonesia (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the largest solid fuel furnace burner supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

In Singapore, solid fuel furnace burner exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Vietnam (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, falling by X% against the previous year. Overall, the export price, however, showed a prominent increase. The growth pace was the most rapid in 2013 when the export price increased by X%. Over the period under review, the export prices reached the peak figure at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

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

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

Imports of Furnace Burners For Solid Fuel Or Gas

Imports in ASEAN

In 2022, after two years of decline, there was growth in purchases abroad of furnace burners for solid fuel or gas, when their volume increased by X% to X units. In general, imports showed a notable increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, solid fuel furnace burner imports contracted to $X in 2022. Overall, imports saw a pronounced expansion. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Indonesia was the largest importer of furnace burners for solid fuel or gas in ASEAN, with the volume of imports recording X units, which was approx. X% of total imports in 2022. It was distantly followed by Malaysia (X units), Vietnam (X units) and Thailand (X units), together creating a X% share of total imports. Singapore (X units) and the Philippines (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to solid fuel furnace burner imports into Indonesia stood at X%. At the same time, Vietnam (X%), Thailand (X%) and the Philippines (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. Singapore experienced a relatively flat trend pattern. By contrast, Malaysia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam and Thailand increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest solid fuel furnace burner importing markets in ASEAN were Malaysia ($X), Indonesia ($X) and Vietnam ($X), with a combined X% share of total imports. Thailand, Singapore and the Philippines lagged somewhat behind, together accounting for a further X%.

The Philippines, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per unit, reducing by X% against the previous year. Over the period under review, the import price, however, enjoyed mild growth. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. The level of import peaked at $X per unit in 2021, and then shrank in the following year.

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 Singapore ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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