Southern Asia: Market for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers 2024

Market Size for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers in Southern Asia

In 2022, the South Asian market for iron or steel gas domestic cooking appliances and plate warmers decreased by -14% to $X, falling for the second year in a row after two years of growth. The market value increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Production of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers in Southern Asia

In value terms, production of iron or steel gas domestic cooking appliances and plate warmers expanded modestly to $X in 2022 estimated in export price. The total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 -2.7% against 2020 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 16%. Over the period under review, production of attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Exports in Southern Asia

In 2022, overseas shipments of iron or steel gas domestic cooking appliances and plate warmers decreased by -13.1% to X units, falling for the second consecutive year after five years of growth. Overall, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 73% against the previous year. Over the period under review, the exports of hit record highs at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, exports of iron or steel gas domestic cooking appliances and plate warmers expanded sharply to $X in 2022. In general, exports, however, posted a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 88% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

The biggest shipments were from India (X units), together recording 99% of total export.

India was also the fastest-growing in terms of the iron or steel gas domestic cooking appliances and plate warmers exports, with a CAGR of +21.6% from 2012 to 2022. India (+2.2 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, India ($X) also remains the largest iron or steel gas domestic cooking appliances and plate warmers supplier in Southern Asia.

From 2012 to 2022, the average annual growth rate of value in India stood at +22.6%.

Export Prices by Country

The export price in Southern Asia stood at $X per unit in 2022, rising by 30% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 93%. The level of export peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +0.9% per year.

Imports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Imports in Southern Asia

In 2022, approx. X units of iron or steel gas domestic cooking appliances and plate warmers were imported in Southern Asia; with a decrease of -43.4% on the previous year. In general, imports recorded a deep reduction. The growth pace was the most rapid in 2014 with an increase of 41%. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of iron or steel gas domestic cooking appliances and plate warmers shrank rapidly to $X in 2022. Over the period under review, imports, however, showed prominent growth. The most prominent rate of growth was recorded in 2014 when imports increased by 42%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

India was the largest importer of iron or steel gas domestic cooking appliances and plate warmers in Southern Asia, with the volume of imports resulting at X units, which was approx. 58% of total imports in 2022. Pakistan (X units) held the second position in the ranking, followed by Sri Lanka (X units) and Bangladesh (X units). All these countries together took near 33% share of total imports. The following importers - Nepal (X units) and Maldives (X units) - together made up 6% of total imports.

From 2012 to 2022, average annual rates of growth with regard to iron or steel gas domestic cooking appliances and plate warmers imports into India stood at -10.5%. At the same time, Bangladesh (+8.8%), Sri Lanka (+4.3%), Nepal (+3.5%) and Pakistan (+2.8%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +8.8% from 2012-2022. By contrast, Maldives (-4.8%) illustrated a downward trend over the same period. Pakistan (+10 p.p.), Sri Lanka (+7.5 p.p.), Bangladesh (+5.1 p.p.) and Nepal (+2.6 p.p.) significantly strengthened its position in terms of the total imports, while India saw its share reduced by -27.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), Bangladesh ($X) and Nepal ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 88% share of total imports.

Bangladesh, with a CAGR of +19.8%, saw the highest growth rate of the value of imports, among the main importing countries 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 Southern Asia stood at $X per unit in 2022, rising by 48% against the previous year. In general, the import price enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2016 when the import price increased by 69% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is likely to see steady 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 Bangladesh ($X per unit), while Pakistan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+19.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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