Asia: Domestic Appliances Market 2024

Domestic Appliances Market Size in Asia

The Asian domestic appliances market shrank to $X in 2021, declining by -3.3% against the previous year. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the market value increased by 6.8% against the previous year. Over the period under review, the market attained the maximum level at $X in 2020, and then dropped in the following year.

Domestic Appliances Production in Asia

In value terms, domestic appliances production shrank modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 7%. The level of production peaked at $X in 2020, and then dropped slightly in the following year.

Domestic Appliances Exports

Exports in Asia

In 2021, overseas shipments of domestic appliances increased by 9.5% to X units, rising for the fifth year in a row after two years of decline. Total exports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +4.8% 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 +61.7% against 2016 indices. The pace of growth was the most pronounced in 2018 when exports increased by 16%. The volume of export peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, domestic appliances exports soared to $X in 2021. Total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +76.0% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the main exporting country with an export of around X units, which amounted to 80% of total exports. It was distantly followed by Turkey (X units), mixing up an 11% share of total exports. The following exporters - Thailand (X units) and Vietnam (X units) - each finished at a 3.9% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to domestic appliances exports from China stood at +5.9%. At the same time, Vietnam (+8.3%) and Turkey (+4.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +8.3% from 2012-2021. By contrast, Thailand (-4.9%) illustrated a downward trend over the same period. While the share of China (+6.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Thailand (-3.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest domestic appliances supplier in Asia, comprising 72% of total exports. The second position in the ranking was held by Turkey ($X), with a 7% share of total exports. It was followed by Thailand, with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +8.4%. In the other countries, the average annual rates were as follows: Turkey (+5.2% per year) and Thailand (+2.7% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2021, picking up by 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Thailand ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+8.0%), while the other leaders experienced more modest paces of growth.

Domestic Appliances Imports

Imports in Asia

For the third year in a row, Asia recorded growth in supplies from abroad of domestic appliances, which increased by 9.3% to X units in 2021. The total import volume increased at an average annual rate of +4.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by 14% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, domestic appliances imports soared to $X in 2021. The total import value increased at an average annual rate of +4.6% over the period 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, Japan (X units), followed by South Korea (X units), Turkey (X units), the United Arab Emirates (X units), Vietnam (X units), Iraq (X units), India (X units) and China (X units) represented the major importers of domestic appliances, together generating 56% of total imports. Thailand (X units), Saudi Arabia (X units), Indonesia (X units), Israel (X units) and Hong Kong SAR (X units) held a relatively small 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 Vietnam (with a CAGR of +14.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest domestic appliances importing markets in Asia were Japan ($X), South Korea ($X) and China ($X), with a combined 38% share of total imports.

Among the main importing countries, South Korea, with a CAGR of +16.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, increasing by 7.7% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was China ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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