Eastern Asia: Electric Heating Radiator Market 2024

Electric Heating Radiator Market Size in Eastern Asia

For the sixth year in a row, the East Asian electric heating radiator market recorded decline in sales value, which decreased by X% to $X in 2022. Overall, consumption showed a deep setback. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Electric Heating Radiator Production in Eastern Asia

In value terms, electric heating radiator production shrank slightly to $X in 2022 estimated in export price. The total production indicated a strong 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, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Electric Heating Radiator Exports

Exports in Eastern Asia

In 2022, overseas shipments of electric storage heating radiators increased by X% to X units, rising for the sixth consecutive year after three years of decline. In general, exports continue to indicate significant growth. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, electric heating radiator exports declined remarkably to $X in 2022. Over the period under review, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The level of export peaked at $X in 2021, and then contracted notably in the following year.

Exports by Country

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

China was also the fastest-growing in terms of the electric storage heating radiators 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 electric heating radiator supplier in Eastern Asia.

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

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, reducing by X% against the previous year. Overall, the export price faced a deep contraction. The most prominent rate of growth was recorded in 2016 when the export price increased by X%. As a result, the export price attained the peak level of $X per unit. From 2017 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.

Electric Heating Radiator Imports

Imports in Eastern Asia

In 2022, approx. X units of electric storage heating radiators were imported in Eastern Asia; declining by X% compared with 2021 figures. In general, imports recorded a significant contraction. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, electric heating radiator imports fell modestly to $X in 2022. Over the period under review, imports recorded a dramatic shrinkage. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

South Korea prevails in imports structure, accounting for X units, which was near X% of total imports in 2022. It was distantly followed by Japan (X units), creating a X% share of total imports. Hong Kong SAR (X units) and China (X units) held a relatively small share of total imports.

South Korea was also the fastest-growing in terms of the electric storage heating radiators imports, with a CAGR of X% from 2012 to 2022. China experienced a relatively flat trend pattern. Hong Kong SAR (X%) and Japan (X%) illustrated a downward trend over the same period. While the share of South Korea (X p.p.) and Hong Kong SAR (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) constitutes the largest market for imported electric storage heating radiators in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by China, with a X% share.

In South Korea, electric heating radiator imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Japan (X% per year) and China (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, growing by X% against the previous year. Import price indicated a noticeable 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, electric heating radiator import price increased by X% against 2018 indices. As a result, import 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 importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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