Eastern Asia: Non-Electric Industrial Furnace Market 2024

Non-Electric Industrial Furnace Market Size in Eastern Asia

The East Asian non-electric industrial furnace market rose to $X.6B in 2022, surging by X% against the previous year. In general, consumption posted a prominent increase. Over the period under review, the market reached the maximum level at $X.8B in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Non-Electric Industrial Furnace Production in Eastern Asia

In value terms, non-electric industrial furnace production rose sharply to $X.6B in 2022 estimated in export price. Overall, production continues to indicate a prominent expansion. The pace of growth appeared the most rapid in 2019 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X.9B in 2020; however, from 2021 to 2022, production remained at a lower figure.

Non-Electric Industrial Furnace Exports

Exports in Eastern Asia

In 2022, overseas shipments of non-electric industrial or laboratory furnaces and ovens increased by X% to X units, rising for the second year in a row after three years of decline. Overall, exports showed a prominent increase. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, the exports reached the maximum at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, non-electric industrial furnace exports skyrocketed to $X in 2022. Total exports indicated a noticeable 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, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

China (X units) represented roughly X% of total exports in 2022.

China was also the fastest-growing in terms of the non-electric industrial or laboratory furnaces and ovens exports, with a CAGR of X% from 2012 to 2022. 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) also remains the largest non-electric industrial furnace supplier in Eastern Asia.

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

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, falling by X% against the previous year. Overall, the export price showed a slight decrease. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. The level of export peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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.

Non-Electric Industrial Furnace Imports

Imports in Eastern Asia

Non-electric industrial furnace imports stood at X units in 2022, surging by X% against 2021 figures. In general, imports, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, non-electric industrial furnace imports declined to $X in 2022. Overall, imports, however, recorded a abrupt slump. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, South Korea (X units) and China (X units) represented the key importers of non-electric industrial or laboratory furnaces and ovens in Eastern Asia, together finishing at approx. X% of total imports. Taiwan (Chinese) (X units) ranks next in terms of the total imports with a X% share, followed by Japan (X%). Hong Kong SAR (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, China ($X) constitutes the largest market for imported non-electric industrial or laboratory furnaces and ovens in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

In China, non-electric industrial furnace imports declined by 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: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, dropping by X% against the previous year. Import price indicated a resilient increase 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. The pace of growth appeared the most rapid in 2013 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2021, and then declined remarkably in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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