China: Radiator Market 2023

Radiator Market Size in China

The Chinese radiator market stood at $X in 2022, increasing by 1.5% against the previous year. In general, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.4% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Radiator Production in China

In value terms, radiator production expanded modestly to $X in 2022 estimated in export price. In general, the total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.6% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 17% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Radiator Exports

Exports from China

In 2022, radiator exports from China expanded significantly to X tons, with an increase of 7.1% against 2021 figures. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 21%. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, radiator exports declined to $X in 2022. Over the period under review, total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 +88.9% against 2016 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 36%. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

The UK (X tons) was the main destination for radiator exports from China, with a 44% share of total exports. Moreover, radiator exports to the UK exceeded the volume sent to the second major destination, Russia (X tons), twofold. Kazakhstan (X tons) ranked third in terms of total exports with a 7% share.

From 2012 to 2022, the average annual growth rate of volume to the UK stood at +19.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+9.0% per year) and Kazakhstan (-15.3% per year).

In value terms, the UK ($X) remains the key foreign market for radiators for central heating (not electrically heated) exports from China, comprising 52% of total exports. The second position in the ranking was taken by Russia ($X), with a 16% share of total exports. It was followed by the United States, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value to the UK stood at +20.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+9.7% per year) and the United States (-2.3% per year).

Export Prices by Country

The average radiator export price stood at $X per ton in 2022, declining by -13.3% against the previous year. Over the period under review, export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 an increase of 18% against the previous year. The export price peaked at $X per ton in 2021, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Mongolia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (+3.8%), while the prices for the other major destinations experienced more modest paces of growth.

Radiator Imports

Imports into China

In 2022, the amount of radiators for central heating (not electrically heated) imported into China reduced dramatically to X tons, with a decrease of -75.1% compared with the previous year. Overall, imports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2013 when imports increased by 71% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, radiator imports fell markedly to $X in 2022. Over the period under review, imports recorded a pronounced decline. The pace of growth was the most pronounced in 2013 with an increase of 57% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of radiator to China, accounting for a 80% share of total imports. Moreover, radiator imports from Turkey exceeded the figures recorded by the second-largest supplier, Poland (X tons), more than tenfold. Russia (X tons) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey stood at -3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-16.5% per year) and Russia (+289.1% per year).

In value terms, Turkey ($X) constituted the largest supplier of radiators for central heating (not electrically heated) to China, comprising 65% of total imports. The second position in the ranking was taken by Poland ($X), with an 8% share of total imports. It was followed by Germany, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey totaled -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-12.5% per year) and Germany (-15.1% per year).

Import Prices by Country

The average radiator import price stood at $X per ton in 2022, rising by 41% against the previous year. Over the period under review, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, radiator import price increased by +66.6% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+4.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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