Asia-Pacific: Radiator Market 2023

Radiator Market Size in Asia-Pacific

The Asia-Pacific radiator market expanded to $X in 2022, surging by 1.8% against the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 8.9% against the previous year. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Radiator Production in Asia-Pacific

In value terms, radiator production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 14%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Radiator Exports

Exports in Asia-Pacific

In 2022, radiator exports in Asia-Pacific was estimated at X tons, growing by 6.8% on the previous year's figure. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 16%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, radiator exports reduced slightly to $X in 2022. Total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 +63.0% against 2016 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 29% against the previous year. As a result, the exports reached the peak of $X, and then declined modestly in the following year.

Exports by Country

China dominates exports structure, resulting at X tons, which was approx. 95% of total exports in 2022. Vietnam (X tons) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of exports of radiators for central heating (not electrically heated). At the same time, Vietnam (+101.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +101.3% from 2012-2022. China (+3.2 p.p.) and Vietnam (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest radiator supplier in Asia-Pacific, comprising 88% of total exports. The second position in the ranking was held by Vietnam ($X), with a 4.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +4.6%.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, dropping by -10.6% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2020 when the export price increased by 17% against the previous year. The level of export peaked at $X per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while China totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.6%).

Radiator Imports

Imports in Asia-Pacific

Radiator imports dropped sharply to X tons in 2022, declining by -60.7% compared with 2021 figures. Overall, imports showed a pronounced curtailment. The growth pace was the most rapid in 2013 when imports increased by 48% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, radiator imports dropped significantly to $X in 2022. In general, imports saw a perceptible setback. The growth pace was the most rapid in 2021 with an increase of 34%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

China represented the largest importer of radiators for central heating (not electrically heated) in Asia-Pacific, with the volume of imports recording X tons, which was near 51% of total imports in 2022. Singapore (X tons) held the second position in the ranking, followed by Japan (X tons), Afghanistan (X tons) and Australia (X tons). All these countries together took near 32% share of total imports. Democratic People's Republic of Korea (X tons) and India (X tons) took a little share of total imports.

Imports into China decreased at an average annual rate of -5.5% from 2012 to 2022. At the same time, Afghanistan (+13.9%), India (+12.6%) and Democratic People's Republic of Korea (+4.8%) displayed positive paces of growth. Moreover, Afghanistan emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +13.9% from 2012-2022. Singapore and Japan experienced a relatively flat trend pattern. By contrast, Australia (-6.5%) illustrated a downward trend over the same period. Singapore (+4.8 p.p.), Afghanistan (+4.5 p.p.), India (+2.5 p.p.), Japan (+2.2 p.p.) and Democratic People's Republic of Korea (+2.2 p.p.) significantly strengthened its position in terms of the total imports, while Australia and China saw its share reduced by -2% and -13.2% from 2012 to 2022, respectively.

In value terms, China ($X) constitutes the largest market for imported radiators for central heating (not electrically heated) in Asia-Pacific, comprising 33% of total imports. The second position in the ranking was taken by Singapore ($X), with a 16% share of total imports. It was followed by Japan, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in China totaled -4.4%. In the other countries, the average annual rates were as follows: Singapore (+2.0% per year) and Japan (-1.2% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, with an increase of 57% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+2.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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