Eastern Asia: Electric Water Heater Market 2024

Electric Water Heater Market Size in Eastern Asia

The East Asian electric water heater market expanded to $X in 2022, increasing by X% against the previous year. The market 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. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Electric Water Heater Production in Eastern Asia

In value terms, electric water heater production declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2015 when the production volume increased by X%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Electric Water Heater Exports

Exports in Eastern Asia

In 2022, after four years of growth, there was significant decline in overseas shipments of electric water heaters and immersion heaters, when their volume decreased by X% to X units. In general, exports, however, showed a remarkable increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The volume of export peaked at X units in 2021, and then shrank in the following year.

In value terms, electric water heater exports rose significantly to $X in 2022. Total exports indicated a prominent 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 2015 indices. The pace of growth appeared the most rapid in 2013 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

China prevails in exports structure, amounting to X units, which was near X% of total exports in 2022. South Korea (X units) took a little share of total exports.

China was also the fastest-growing in terms of the electric water heaters and immersion heaters exports, with a CAGR of X% from 2012 to 2022. At the same time, South Korea (X%) displayed positive paces of growth. China (X 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 ($X) remains the largest electric water heater supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports.

In China, electric water heater exports increased 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, increasing by X% against the previous year. In general, the export price, however, recorded a slight contraction. The level of export peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%).

Electric Water Heater Imports

Imports in Eastern Asia

After five years of growth, purchases abroad of electric water heaters and immersion heaters decreased by X% to X units in 2022. In general, imports, however, continue to indicate prominent growth. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. The volume of import peaked at X units in 2021, and then reduced in the following year.

In value terms, electric water heater imports stood at $X in 2022. Over the period under review, imports, however, showed a strong increase. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

In 2022, Japan (X units), distantly followed by South Korea (X units), Taiwan (Chinese) (X units), Hong Kong SAR (X units) and China (X units) represented the major importers of electric water heaters and immersion heaters, together creating X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest electric water heater importing markets in Eastern Asia were Japan ($X), South Korea ($X) and Taiwan (Chinese) ($X), with a combined X% share of total imports.

In terms of the main importing countries, Taiwan (Chinese), with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per unit), while South Korea ($X per unit) was 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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