Malaysia: Electric Soldering Iron Market 2024

Electric Soldering Iron Market Size in Malaysia

In 2023, the Malaysian electric soldering iron market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. In general, consumption, however, saw a modest expansion. As a result, consumption reached the peak level of $X. From 2014 to 2023, the growth of the market failed to regain momentum.

Electric Soldering Iron Exports

Exports from Malaysia

Electric soldering iron exports from Malaysia skyrocketed to X units in 2023, surging by X% compared with the year before. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2023 and are expected to retain growth in the immediate term.

In value terms, electric soldering iron exports rose modestly to $X in 2023. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2023 and are expected to retain growth in years to come.

Exports by Country

Japan (X units) was the main destination for electric soldering iron exports from Malaysia, accounting for a X% share of total exports. Moreover, electric soldering iron exports to Japan exceeded the volume sent to the second major destination, the United States (X units), fourfold. Singapore (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Japan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Singapore (X% per year).

In value terms, Japan ($X) remains the key foreign market for electric soldering irons and guns exports from Malaysia, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Japan totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Singapore (X% per year).

Export Prices by Country

The average electric soldering iron export price stood at $X per unit in 2023, dropping by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average export price increased by X%. The export price peaked at $X per unit in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Japan ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Electric Soldering Iron Imports

Imports into Malaysia

After two years of growth, overseas purchases of electric soldering irons and guns decreased by X% to X units in 2023. In general, imports, however, continue to indicate notable growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, imports attained the peak of X units. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, electric soldering iron imports reduced to $X in 2023. Over the period under review, imports, however, enjoyed slight growth. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, imports reached the peak of $X. From 2014 to 2023, the growth of imports remained at a lower figure.

Imports by Country

In 2023, China (X units) constituted the largest supplier of electric soldering iron to Malaysia, accounting for a X% share of total imports. Moreover, electric soldering iron imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. The third position in this ranking was held by the United States (X units), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and the United States (X% per year).

In value terms, China ($X), Japan ($X) and the United States ($X) appeared to be the largest electric soldering iron suppliers to Malaysia, together comprising X% of total imports.

Japan, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average electric soldering iron import price stood at $X per unit in 2023, rising by X% against the previous year. Overall, the import price, however, saw a pronounced setback. The pace of growth appeared the most rapid in 2016 an increase of X%. Over the period under review, average import prices hit record highs at $X per unit in 2017; however, from 2018 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform