Metal Solid Fuel Appliances Market

The article discusses the increasing demand for iron or steel solid fuel domestic appliances worldwide, with the market projected to grow in both consumption and value from 2022 to 2030. It covers trends in market performance, production, imports, and exports, as well as the countries with the highest volumes of consumption and production. The Netherlands emerges as a key player with significant growth rates in consumption, production, imports, and exports. The average prices and growth rates in the industry are also highlighted, providing a comprehensive overview of the global market.

Market Forecast

Driven by increasing demand for iron or steel solid fuel domestic appliances worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.7% for the period from 2022 to 2030, which is projected to bring the market volume to 67M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.5% for the period from 2022 to 2030, which is projected to bring the market value to $9.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Iron Or Steel Solid Fuel Domestic Appliances

After two years of growth, consumption of iron or steel solid fuel domestic appliances decreased by -10% to 54M units in 2022. The total consumption volume increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, global consumption attained the peak volume at 60M units in 2021, and then fell in the following year.

The global metal solid fuel appliances market value declined slightly to $6.8B in 2022, shrinking by -2.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Global consumption peaked at $7.5B in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (12M units), the United States (9M units) and India (5M units), with a combined 48% share of global consumption. The Netherlands, the UK, Russia, Indonesia, France, Mexico, Germany, South Korea and Italy lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Germany (with a CAGR of +13.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Indonesia ($874M), India ($491M) and South Korea ($462M) appeared to be the countries with the highest levels of market value in 2022, together comprising 27% of the global market. France, Russia, China, the United States, Germany, Italy, Mexico, the UK and the Netherlands lagged somewhat behind, together comprising a further 33%.

The Netherlands, with a CAGR of +11.8%, recorded the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of metal solid fuel appliances per capita consumption was registered in the Netherlands (154 units per 1000 persons), followed by the UK (37 units per 1000 persons), the United States (27 units per 1000 persons) and France (19 units per 1000 persons), while the world average per capita consumption of metal solid fuel appliances was estimated at 6.9 units per 1000 persons.

In the Netherlands, metal solid fuel appliances per capita consumption increased at an average annual rate of +12.4% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the UK (+6.3% per year) and the United States (+6.1% per year).

Production

World Production of Iron Or Steel Solid Fuel Domestic Appliances

In 2022, global metal solid fuel appliances production expanded slightly to 52M units, increasing by 1.5% compared with 2021. The total output volume increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2020 with an increase of 8%. Global production peaked at 54M units in 2016; however, from 2017 to 2022, production failed to regain momentum.

In value terms, metal solid fuel appliances production reached $10.5B in 2022 estimated in export price. The total output value increased at an average annual rate of +4.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 34% against the previous year. Global production peaked at $11.7B in 2018; however, from 2019 to 2022, production failed to regain momentum.

Production By Country

China (25M units) constituted the country with the largest volume of metal solid fuel appliances production, comprising approx. 48% of total volume. Moreover, metal solid fuel appliances production in China exceeded the figures recorded by the second-largest producer, India (5M units), fivefold. Italy (2.2M units) ranked third in terms of total production with a 4.3% share.

In China, metal solid fuel appliances production expanded at an average annual rate of +2.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+2.4% per year) and Italy (+4.1% per year).

Imports

World Imports of Iron Or Steel Solid Fuel Domestic Appliances

After four years of growth, overseas purchases of iron or steel solid fuel domestic appliances decreased by -21.3% to 32M units in 2022. Over the period under review, imports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of 70%. Over the period under review, global imports attained the maximum at 40M units in 2021, and then shrank sharply in the following year.

In value terms, metal solid fuel appliances imports rose remarkably to $2.3B in 2022. In general, imports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2021 when imports increased by 57% against the previous year. Global imports peaked in 2022 and are likely to see steady growth in the near future.

Imports By Country

The Netherlands (10M units) and the United States (9.1M units) represented roughly 60% of total imports in 2022. The UK (2.5M units) ranks next in terms of the total imports with a 7.7% share, followed by Germany (4.9%) and France (4.5%). The following importers - Canada (558K units), Belgium (551K units) and Australia (503K units) - each recorded a 5.1% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +20.8%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest metal solid fuel appliances importing markets worldwide were France ($402M), the United States ($357M) and Germany ($344M), with a combined 48% share of global imports. The UK, the Netherlands, Belgium, Canada and Australia lagged somewhat behind, together comprising a further 17%.

In terms of the main importing countries, the Netherlands, with a CAGR of +14.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average metal solid fuel appliances import price stood at $72 per unit in 2022, rising by 40% against the previous year. In general, the import price, however, recorded a perceptible descent. Over the period under review, average import prices attained the peak figure at $123 per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 France ($280 per unit), while the Netherlands ($9.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+2.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Iron Or Steel Solid Fuel Domestic Appliances

In 2022, shipments abroad of iron or steel solid fuel domestic appliances decreased by -5.8% to 30M units for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 70% against the previous year. The global exports peaked at 31M units in 2021, and then contracted in the following year.

In value terms, metal solid fuel appliances exports rose markedly to $2.8B in 2022. In general, total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +94.9% against 2016 indices. The pace of growth was the most pronounced in 2021 with an increase of 48%. The global exports peaked in 2022 and are likely to see steady growth in the near future.

Exports By Country

China was the key exporting country with an export of about 13M units, which resulted at 42% of total exports. The Netherlands (7.5M units) held a 25% share (based on physical terms) of total exports, which put it in second place, followed by Italy (6.2%). The following exporters - Hungary (920K units), Poland (891K units), the Czech Republic (588K units), Denmark (581K units) and Germany (458K units) - together made up 12% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +26.0%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Italy ($583M), China ($548M) and Hungary ($131M) constituted the countries with the highest levels of exports in 2022, with a combined 46% share of global exports. Poland, Germany, the Czech Republic, the Netherlands and Denmark lagged somewhat behind, together accounting for a further 22%.

In terms of the main exporting countries, the Netherlands, with a CAGR of +16.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average metal solid fuel appliances export price amounted to $94 per unit, picking up by 15% against the previous year. In general, the export price, however, recorded a mild contraction. The pace of growth was the most pronounced in 2016 when the average export price increased by 25% against the previous year. The global export price peaked at $121 per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Italy ($319 per unit), while the Netherlands ($16 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+17.5%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform