South-Eastern Asia: Non-Electric Industrial Furnace Market 2024

Non-Electric Industrial Furnace Market Size in South-Eastern Asia

For the third year in a row, the Southeast Asian non-electric industrial furnace market recorded growth in sales value, which increased by X% to $X in 2023. Overall, consumption continues to indicate a slight expansion. As a result, consumption reached the peak level of $X. From 2016 to 2023, the growth of the market remained at a lower figure.

Non-Electric Industrial Furnace Production in South-Eastern Asia

In value terms, non-electric industrial furnace production declined to $X in 2023 estimated in export price. Overall, production saw a significant decrease. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2023, production remained at a lower figure.

Non-Electric Industrial Furnace Exports

Exports in South-Eastern Asia

For the third year in a row, South-Eastern Asia recorded growth in shipments abroad of non-electric industrial or laboratory furnaces and ovens, which increased by X% to X units in 2023. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of export peaked at X units in 2016; however, from 2017 to 2023, the exports remained at a lower figure.

In value terms, non-electric industrial furnace exports dropped sharply to $X in 2023. In general, exports, however, saw a mild shrinkage. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

In 2023, Thailand (X units) and Vietnam (X units) represented the key exporters of non-electric industrial or laboratory furnaces and ovens in South-Eastern Asia, together creating X% of total exports. Singapore (X units) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (X%). The Philippines (X units) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) emerged as the largest non-electric industrial furnace supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports. It was followed by the Philippines, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Thailand was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and the Philippines (X% per year).

Export Prices by Country

In 2023, the export price in South-Eastern Asia amounted to $X per unit, dropping by X% against the previous year. Overall, the export price saw a slight downturn. The most prominent rate of growth was recorded in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the Philippines ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced mixed trends in the export price figures.

Non-Electric Industrial Furnace Imports

Imports in South-Eastern Asia

In 2023, the amount of non-electric industrial or laboratory furnaces and ovens imported in South-Eastern Asia surged to X units, with an increase of X% compared with 2022. Overall, imports posted a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, non-electric industrial furnace imports totaled $X in 2023. In general, imports posted a prominent increase. The pace of growth appeared the most rapid in 2021 when imports increased by X%. The level of import peaked at $X in 2019; however, from 2020 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Singapore (X units) was the major importer of non-electric industrial or laboratory furnaces and ovens, constituting X% of total imports. Malaysia (X units) took the second position in the ranking, distantly followed by the Philippines (X units) and Thailand (X units). All these countries together held approx. X% share of total imports. Indonesia (X units) and Vietnam (X units) followed a long way behind the leaders.

Imports into Singapore increased at an average annual rate of X% from 2012 to 2023. At the same time, the Philippines (X%), Malaysia (X%), Thailand (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, Indonesia (X%) illustrated a downward trend over the same period. Singapore (X p.p.), the Philippines (X p.p.) and Malaysia (X p.p.) significantly strengthened its position in terms of the total imports, while Vietnam, Thailand and Indonesia saw its share reduced by X%, X% and X% from 2012 to 2023, respectively.

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

In Indonesia, non-electric industrial furnace imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2023, the import price in South-Eastern Asia amounted to $X per unit, reducing by X% against the previous year. Over the period under review, the import price continues to indicate a deep setback. The pace of growth appeared the most rapid in 2015 an increase of X%. Over the period under review, import prices hit record highs at $X per unit in 2021; however, from 2022 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Indonesia ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform