Asia-Pacific: Non-Electric Industrial Furnace Market 2024

Non-Electric Industrial Furnace Market Size in Asia-Pacific

The Asia-Pacific non-electric industrial furnace market expanded remarkably to $X.4B in 2022, rising by X% against the previous year. Overall, consumption recorded a remarkable increase. Over the period under review, the market reached the maximum level at $X.1B in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Non-Electric Industrial Furnace Production in Asia-Pacific

In value terms, non-electric industrial furnace production expanded sharply to $X.6B in 2022 estimated in export price. In general, production posted a resilient increase. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, production attained the maximum level at $X.3B in 2020; however, from 2021 to 2022, production remained at a lower figure.

Non-Electric Industrial Furnace Exports

Exports in Asia-Pacific

In 2022, shipments abroad of non-electric industrial or laboratory furnaces and ovens increased by X% to X units, rising for the second year in a row after three years of decline. In general, exports showed a prominent increase. The growth pace was the most rapid in 2021 when exports increased by X%. The volume of export peaked at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, non-electric industrial furnace exports surged to $X in 2022. Total exports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, reaching X units, which was near X% of total exports in 2022. It was distantly followed by India (X units), making up an X% share of total exports. Australia (X units) took a little share of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2022. At the same time, India (X%) and Australia (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of India and China increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest non-electric industrial furnace supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by India ($X), with a X% share of total exports.

In China, non-electric industrial furnace 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: India (X% per year) and Australia (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, therefore, remained relatively stable against the previous year. In general, the export price recorded a noticeable reduction. The pace of growth was the most pronounced in 2020 when the export price increased by X%. As a result, the export price attained the peak level of $X per unit. From 2021 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced a decline in the export price figures.

Non-Electric Industrial Furnace Imports

Imports in Asia-Pacific

In 2022, non-electric industrial furnace imports in Asia-Pacific reduced to X units, dropping by X% against the previous year's figure. Overall, imports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, non-electric industrial furnace imports declined modestly to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 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 represented the main importing country with an import of around X units, which finished at X% of total imports. It was distantly followed by India (X units), Thailand (X units), Singapore (X units), the Philippines (X units) and Pakistan (X units), together committing a X% share of total imports. Vietnam (X units) followed a long way behind the leaders.

Indonesia was also the fastest-growing in terms of the non-electric industrial or laboratory furnaces and ovens imports, with a CAGR of X% from 2012 to 2022. At the same time, Thailand (X%), the Philippines (X%), Vietnam (X%), Pakistan (X%), India (X%) and Singapore (X%) displayed positive paces of growth. Indonesia (X p.p.), Thailand (X p.p.) and the Philippines (X p.p.) significantly strengthened its position in terms of the total imports, while India and Singapore saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported non-electric industrial or laboratory furnaces and ovens in Asia-Pacific, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with a X% share of total imports. It was followed by India, with a X% share.

In Indonesia, non-electric industrial furnace imports 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: Vietnam (X% per year) and India (X% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per unit, increasing by X% against the previous year. Overall, the import price, however, showed a deep downturn. The growth pace was the most rapid in 2013 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the 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 Vietnam ($X per unit), while Pakistan ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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