Asia-Pacific: Thermostat Market 2024

Thermostat Market Size in Asia-Pacific

In 2022, the Asia-Pacific thermostat market increased by X% to $X for the first time since 2017, thus ending a four-year declining trend. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2017; afterwards, it flattened through to 2022.

Thermostat Production in Asia-Pacific

In value terms, thermostat production declined modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

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Thermostat Exports

Exports in Asia-Pacific

After three years of growth, shipments abroad of thermostats decreased by X% to X units in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of X units, and then fell notably in the following year.

In value terms, thermostat exports contracted modestly to $X in 2022. Total exports indicated a resilient increase 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. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then shrank slightly in the following year.

Exports by Country

China represented the largest exporting country with an export of around X units, which reached X% of total exports. It was distantly followed by Hong Kong SAR (X units), committing a X% share of total exports. The following exporters - South Korea (X units) and Thailand (X units) - each recorded a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to thermostat exports from China stood at X%. At the same time, Thailand (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, Hong Kong SAR (X%) and South Korea (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, thermostat exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Hong Kong SAR (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, increasing by X% against the previous year. Export price indicated resilient growth from 2012 to 2022: its price 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, thermostat export price increased by X% against 2020 indices. As a result, the export 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 exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

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

Thermostat Imports

Imports in Asia-Pacific

In 2022, approx. X units of thermostats were imported in Asia-Pacific; falling by X% compared with the previous year's figure. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, thermostat imports declined to $X in 2022. Total imports indicated a noticeable increase 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

Hong Kong SAR was the major importer of thermostats in Asia-Pacific, with the volume of imports accounting for X units, which was approx. X% of total imports in 2022. China (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (X%), India (X%) and Malaysia (X%). The following importers - Japan (X units) and Thailand (X units) - each accounted for an X% share of total imports.

Imports into Hong Kong SAR decreased at an average annual rate of X% from 2012 to 2022. At the same time, Thailand (X%), South Korea (X%), Malaysia (X%), India (X%) and China (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, Japan (X%) illustrated a downward trend over the same period. While the share of South Korea (X p.p.), India (X p.p.), Malaysia (X p.p.) and Thailand (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of China (X p.p.), Japan (X p.p.) and Hong Kong SAR (X p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported thermostats in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with an X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled X%. In the other countries, the average annual rates were as follows: Hong Kong SAR (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per unit, dropping by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2018 when the import price increased by X%. The level of import peaked at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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