Eastern Asia: Microwave Oven Market 2024

Microwave Oven Market Size in Eastern Asia

The East Asian microwave oven market surged to $X in 2022, growing by X% against the previous year. The total consumption indicated tangible growth 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. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Microwave Oven Production in Eastern Asia

In value terms, microwave oven production rose modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2020 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

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Microwave Oven Exports

Exports in Eastern Asia

In 2022, after five years of growth, there was significant decline in shipments abroad of microwave ovens, when their volume decreased by X% to X units. Total exports indicated a slight expansion from 2012 to 2022: its volume 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. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The volume of export peaked at X units in 2021, and then dropped dramatically in the following year.

In value terms, microwave oven exports contracted to $X in 2022. The total export value increased at an average annual rate of X% 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 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then contracted in the following year.

Exports by Country

The biggest shipments were from China (X units), together reaching X% of total export.

China was also the fastest-growing in terms of the microwave ovens exports, with a CAGR of X% from 2012 to 2022. While the share of China (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest microwave oven supplier in Eastern Asia.

In China, microwave oven exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, growing by X% against the previous year. Export price indicated a modest expansion 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, microwave oven export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the export price increased by X%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to X% per year.

Microwave Oven Imports

Imports in Eastern Asia

Microwave oven imports rose modestly to X units in 2022, growing by X% on 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 throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, microwave oven imports expanded rapidly to $X in 2022. The total import value 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 throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Japan represented the main importing country with an import of around X units, which finished at X% of total imports. South Korea (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (X%). Hong Kong SAR (X units) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to microwave oven imports into Japan stood at X%. At the same time, South Korea (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. South Korea (X p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR and Japan 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, Japan ($X) constitutes the largest market for imported microwave ovens in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual growth rate of value in Japan was relatively modest. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, picking up by X% against the previous year. In general, the import price, however, saw a slight shrinkage. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Hong Kong SAR ($X per unit) and Taiwan (Chinese) ($X per unit), while South Korea ($X per unit) and Japan ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

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