Eastern 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 Eastern Asia

In 2022, the East Asian market for iron or steel gas domestic cooking appliances and plate warmers decreased by -17.6% to $X, falling for the second year in a row after four years of growth. Overall, consumption, however, recorded a slight descent. The most prominent rate of growth was recorded in 2017 when the market value increased by 8.3% against the previous year. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, production of iron or steel gas domestic cooking appliances and plate warmers reached $X in 2022 estimated in export price. Overall, production, however, showed a mild downturn. The pace of growth appeared the most rapid in 2016 with an increase of 40%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

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

Exports in Eastern Asia

In 2022, shipments abroad of iron or steel gas domestic cooking appliances and plate warmers increased by 229% to X units, rising for the third consecutive year after two years of decline. Over the period under review, exports recorded measured growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of iron or steel gas domestic cooking appliances and plate warmers reduced remarkably to $X in 2022. Total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.3% 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 +35.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 39% against the previous year. As a result, the exports attained the peak of $X, and then declined markedly in the following year.

Exports by Country

The biggest shipments were from China (X units), together finishing at 98% of total export.

China was also the fastest-growing in terms of the iron or steel gas domestic cooking appliances and plate warmers exports, with a CAGR of +3.9% from 2012 to 2022. From 2012 to 2022, the share of China increased by +2.6 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 iron or steel gas domestic cooking appliances and plate warmers supplier in Eastern Asia.

In China, exports of iron or steel gas domestic cooking appliances and plate warmers increased at an average annual rate of +6.1% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, dropping by -75.1% against the previous year. Over the period under review, the export price, however, continues to indicate temperate growth. The growth pace was the most rapid in 2014 an increase of 263% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2021, and then declined markedly in the following year.

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 +2.1% per year.

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

Imports in Eastern Asia

In 2022, the amount of iron or steel gas domestic cooking appliances and plate warmers imported in Eastern Asia reduced modestly to X units, waning by -3.4% on the year before. Total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -7.6% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 42%. Over the period under review, imports of hit record highs at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, imports of iron or steel gas domestic cooking appliances and plate warmers declined to $X in 2022. Total imports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +31.0% against 2014 indices. The pace of growth was the most pronounced in 2018 when imports increased by 19% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2021, and then contracted in the following year.

Imports by Country

The purchases of the three major importers of iron or steel gas domestic cooking appliances and plate warmers, namely Hong Kong SAR, China and Japan, represented more than two-thirds of total import. South Korea (X units) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (7.7%). Democratic People's Republic of Korea (X units) and Macao SAR (X units) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by China (with a CAGR of +17.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest iron or steel gas domestic cooking appliances and plate warmers importing markets in Eastern Asia were Hong Kong SAR ($X), Japan ($X) and China ($X), together accounting for 72% of total imports. South Korea, Taiwan (Chinese), Democratic People's Republic of Korea and Macao SAR lagged somewhat behind, together accounting for a further 28%.

Taiwan (Chinese), with a CAGR of +14.5%, 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

In 2022, the import price in Eastern Asia amounted to $X per unit, dropping by -8.2% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 22% against the previous year. As a result, import price reached the peak level of $X per unit, and then fell in the following year.

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 Japan ($X per unit), while Macao SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+9.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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