Eastern Asia: Metal Gas Appliances Market 2024

Metal Gas Appliances Market Size in Eastern Asia

The East Asian metal gas appliances market fell notably to $X in 2022, with a decrease of -20.1% against the previous year. In general, consumption continues to indicate a abrupt slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Metal Gas Appliances Production in Eastern Asia

In value terms, metal gas appliances production rose slightly to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 20%. As a result, production reached the peak level of $X; afterwards, it flattened through to 2022.

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Metal Gas Appliances Exports

Exports in Eastern Asia

In 2022, overseas shipments of iron or steel gas domestic appliances increased by 49% to X units, rising for the third consecutive year after two years of decline. In general, exports posted a buoyant expansion. The growth pace was the most rapid in 2021 when exports increased by 154%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, metal gas appliances exports contracted sharply to $X in 2022. Over the period under review, exports saw a prominent increase. The pace of growth appeared the most rapid in 2021 with an increase of 88% against the previous year. As a result, the exports attained the peak of $X, and then fell remarkably in the following year.

Exports by Country

In 2022, China (X units) was the largest exporter of iron or steel gas domestic appliances in Eastern Asia, making up 98% of total export.

China was also the fastest-growing in terms of the iron or steel gas domestic appliances exports, with a CAGR of +10.0% from 2012 to 2022. From 2012 to 2022, the share of China increased by +5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest metal gas appliances supplier in Eastern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +12.2%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, which is down by -50.3% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 104%. The level of export peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a 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 +2.0% per year.

Metal Gas Appliances Imports

Imports in Eastern Asia

In 2022, supplies from abroad of iron or steel gas domestic appliances increased by 7% to X units, rising for the second consecutive year after six years of decline. Overall, imports, however, saw a drastic downturn. The pace of growth appeared the most rapid in 2014 with an increase of 42%. 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, metal gas appliances imports soared to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 54%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Japan represented the major importer of iron or steel gas domestic appliances in Eastern Asia, with the volume of imports finishing at X units, which was near 73% of total imports in 2022. It was distantly followed by China (X units) and Taiwan (Chinese) (X units), together committing a 24% share of total imports. South Korea (X units) took a relatively small share of total imports.

Imports into Japan decreased at an average annual rate of -11.4% from 2012 to 2022. At the same time, China (+20.1%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +20.1% from 2012-2022. By contrast, Taiwan (Chinese) (-7.4%) and South Korea (-13.1%) illustrated a downward trend over the same period. While the share of China (+16 p.p.) and Taiwan (Chinese) (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Japan (-15.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported iron or steel gas domestic appliances in Eastern Asia, comprising 78% of total imports. The second position in the ranking was taken by China ($X), with a 9.7% share of total imports. It was followed by Taiwan (Chinese), with a 6% share.

In Japan, metal gas appliances imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: China (+12.6% per year) and Taiwan (Chinese) (-7.7% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, surging by 8.7% against the previous year. Over the period under review, the import price saw a strong increase. The most prominent rate of growth was recorded in 2013 an increase of 27%. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

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 South Korea ($X per unit), while China ($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 (+13.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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