Southern Asia: Non-Electric Industrial Furnace Market 2024

Non-Electric Industrial Furnace Market Size in Southern Asia

In 2023, the South Asian non-electric industrial furnace market increased by X% to $X, rising for the third consecutive year after five years of decline. Over the period under review, consumption, however, continues to indicate a perceptible decline. As a result, consumption reached the peak level of $X. From 2016 to 2023, the growth of the market failed to regain momentum.

Non-Electric Industrial Furnace Production in Southern Asia

In value terms, non-electric industrial furnace production rose modestly to $X in 2023 estimated in export price. Overall, production, however, showed a deep reduction. The pace of growth appeared the most rapid in 2015 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2016 to 2023, production growth failed to regain momentum.

Non-Electric Industrial Furnace Exports

Exports in Southern Asia

In 2023, approx. X units of non-electric industrial or laboratory furnaces and ovens were exported in Southern Asia; waning by X% compared with the previous year's figure. Overall, exports, however, saw a perceptible increase. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports reached the maximum at X units in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

In value terms, non-electric industrial furnace exports contracted rapidly to $X in 2023. Over the period under review, exports recorded a drastic downturn. The growth pace was the most rapid in 2018 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

India (X units) represented roughly X% of total exports in 2023.

India was also the fastest-growing in terms of the non-electric industrial or laboratory furnaces and ovens exports, with a CAGR of X% from 2012 to 2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest non-electric industrial furnace supplier in Southern Asia.

From 2012 to 2023, the average annual growth rate of value in India amounted to X%.

Export Prices by Country

The export price in Southern Asia stood at $X per unit in 2023, surging by X% against the previous year. In general, the export price, however, saw a deep downturn. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

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

From 2012 to 2023, the rate of growth in terms of prices for India amounted to X% per year.

Non-Electric Industrial Furnace Imports

Imports in Southern Asia

For the third consecutive year, Southern Asia recorded growth in purchases abroad of non-electric industrial or laboratory furnaces and ovens, which increased by X% to X units in 2023. In general, imports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked in 2023 and is expected to retain growth in years to come.

In value terms, non-electric industrial furnace imports surged to $X in 2023. Over the period under review, imports showed tangible growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India was the largest importer of non-electric industrial or laboratory furnaces and ovens in Southern Asia, with the volume of imports accounting for X units, which was near X% of total imports in 2023. Pakistan (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Bangladesh (X%). Nepal (X units) followed a long way behind the leaders.

Imports into India increased at an average annual rate of X% from 2012 to 2023. At the same time, Bangladesh (X%), Nepal (X%) and Pakistan (X%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2023. India (X p.p.) significantly strengthened its position in terms of the total imports, while Pakistan saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In India, non-electric industrial furnace imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Bangladesh (X% per year) and Pakistan (X% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2023, with an increase of X% against the previous year. In general, the import price, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2018 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2023, import prices failed to regain momentum.

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 Pakistan ($X per unit), while Nepal ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Pakistan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform