Southern Asia: Radiator Market 2023

Radiator Market Size in Southern Asia

The South Asian radiator market expanded modestly to $X in 2022, picking up by 3.8% against the previous year. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Radiator Production in Southern Asia

In value terms, radiator production rose rapidly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when the production volume increased by 29% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Radiator Exports

Exports in Southern Asia

In 2022, overseas shipments of radiators for central heating (not electrically heated) increased by 8.8% to X tons, rising for the fourth consecutive year after six years of decline. In general, exports, however, recorded a noticeable slump. The growth pace was the most rapid in 2020 when exports increased by 65% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, radiator exports surged to $X in 2022. Over the period under review, exports, however, showed a perceptible reduction. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons) and Pakistan (X tons) prevails in exports structure, together mixing up 97% of total exports. Sri Lanka (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Sri Lanka (with a CAGR of +17.6%), while the other leaders experienced mixed trends in the exports figures.

In value terms, India ($X) remains the largest radiator supplier in Southern Asia, comprising 76% of total exports. The second position in the ranking was held by Pakistan ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to -5.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Pakistan (+7.7% per year) and Sri Lanka (+3.6% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, jumping by 39% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per ton), while Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.6%), while the other leaders experienced a decline in the export price figures.

Radiator Imports

Imports in Southern Asia

In 2022, approx. X tons of radiators for central heating (not electrically heated) were imported in Southern Asia; growing by 46% compared with the previous year's figure. Overall, imports saw a buoyant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 141% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, radiator imports totaled $X in 2022. In general, imports continue to indicate moderate growth. The most prominent rate of growth was recorded in 2018 with an increase of 97%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Afghanistan (X tons) was the main importer of radiators for central heating (not electrically heated), creating 58% of total imports. India (X tons) ranks second in terms of the total imports with a 33% share, followed by Pakistan (8.2%).

From 2012 to 2022, the biggest increases were recorded for Afghanistan (with a CAGR of +13.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constitutes the largest market for imported radiators for central heating (not electrically heated) in Southern Asia, comprising 64% of total imports. The second position in the ranking was taken by Afghanistan ($X), with a 26% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in India stood at +5.8%. The remaining importing countries recorded the following average annual rates of imports growth: Afghanistan (+3.3% per year) and Pakistan (-2.8% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, dropping by -26.8% against the previous year. Over the period under review, the import price showed a abrupt shrinkage. The growth pace was the most rapid in 2021 when the import price increased by 83% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-6.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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