Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers Market

The global market for iron or steel gas domestic cooking appliances and plate warmers is projected to see growth with a CAGR of +1.2% from 2022 to 2030, reaching 158M units and a value of $16.9B by the end of the period. China remains the largest consumer and producer of these appliances, with the United States and India following suit. The United States is the main importer of these appliances, while China leads in exports. The import and export prices have seen fluctuations over the years, with noticeable growth recorded in certain countries such as Mexico and India.

Market Forecast

Driven by increasing demand for iron or steel gas domestic cooking appliances and plate warmers worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.2% for the period from 2022 to 2030, which is projected to bring the market volume to 158M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.4% for the period from 2022 to 2030, which is projected to bring the market value to $16.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

In 2022, consumption of iron or steel gas domestic cooking appliances and plate warmers decreased by -11.1% to 143M units for the first time since 2019, thus ending a two-year rising trend. The total consumption volume increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, consumption reached the peak volume of 161M units, and then declined in the following year.

The size of the market for iron or steel gas domestic cooking appliances and plate warmers worldwide contracted to $14.1B in 2022, waning by -10.8% 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). The market value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $15.8B, and then fell in the following year.

Consumption By Country

China (34M units) remains the largest iron or steel gas domestic cooking appliances and plate warmers consuming country worldwide, accounting for 23% of total volume. Moreover, consumption of iron or steel gas domestic cooking appliances and plate warmers in China exceeded the figures recorded by the second-largest consumer, the United States (16M units), twofold. India (12M units) ranked third in terms of total consumption with an 8.4% share.

In China, consumption of iron or steel gas domestic cooking appliances and plate warmers expanded at an average annual rate of +2.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+0.3% per year) and India (+2.7% per year).

In value terms, the largest iron or steel gas domestic cooking appliances and plate warmers markets worldwide were the United States ($2.3B), China ($2B) and Turkey ($1.3B), with a combined 40% share of the global market. Mexico, Japan, Indonesia, Germany, South Korea, Brazil, Iran, Pakistan, India and Thailand lagged somewhat behind, together accounting for a further 31%.

In terms of the main consuming countries, Germany, with a CAGR of +19.6%, recorded the highest growth rate of market size over the period under review, while warmers for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of iron or steel gas domestic cooking appliances and plate warmers per capita consumption in 2022 were the United States (49 units per 1000 persons), South Korea (46 units per 1000 persons) and Japan (43 units per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +20.2%), while warmers for the other global leaders experienced more modest paces of growth.

Production

World Production of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

In 2022, after six years of growth, there was significant decline in production of iron or steel gas domestic cooking appliances and plate warmers, when its volume decreased by -6.1% to 167M units. The total output volume increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 9.5% against the previous year. As a result, production reached the peak volume of 178M units, and then reduced in the following year.

In value terms, production of iron or steel gas domestic cooking appliances and plate warmers declined to $13.9B in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 22%. Global production peaked at $21.5B in 2018; however, from 2019 to 2022, production failed to regain momentum.

Production By Country

The country with the largest volume of production of iron or steel gas domestic cooking appliances and plate warmers was China (98M units), accounting for 58% of total volume. Moreover, production of iron or steel gas domestic cooking appliances and plate warmers in China exceeded the figures recorded by the second-largest producer, India (15M units), sevenfold. The third position in this ranking was held by Turkey (10M units), with a 6.3% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled +3.4%. The remaining producing countries recorded the following average annual rates of production growth: India (+5.4% per year) and Turkey (+5.0% per year).

Imports

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

After two years of growth, purchases abroad of iron or steel gas domestic cooking appliances and plate warmers decreased by -20.2% to 67M units in 2022. Over the period under review, total imports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +3.0% 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 +23.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 30% against the previous year. As a result, imports reached the peak of 84M units, and then contracted sharply in the following year.

In value terms, imports of iron or steel gas domestic cooking appliances and plate warmers dropped to $6.7B in 2022. The total import value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 31%. As a result, imports attained the peak of $7.6B, and then dropped in the following year.

Imports By Country

In 2022, the United States (17M units) represented the main importer of iron or steel gas domestic cooking appliances and plate warmers, constituting 25% of total imports. Germany (4.4M units) took a 6.6% share (based on physical terms) of total imports, which put it in second place, followed by the Netherlands (4.6%). France (2.7M units), Thailand (2.6M units), Canada (2.5M units), Malaysia (2.2M units), Australia (1.9M units), the Philippines (1.9M units), Spain (1.7M units), South Africa (1.6M units), Poland (1.5M units) and Ukraine (1.4M units) took a little share of total imports.

Imports into the United States increased at an average annual rate of +5.1% from 2012 to 2022. At the same time, Germany (+15.7%), Ukraine (+12.4%), Poland (+10.9%), the Netherlands (+9.6%), Spain (+9.0%), Thailand (+6.8%), South Africa (+4.7%), Malaysia (+4.6%), the Philippines (+3.3%) and Canada (+3.2%) displayed positive paces of growth. Moreover, Germany emerged as the fastest-growing importer imported in the world, with a CAGR of +15.7% from 2012-2022. France and Australia experienced a relatively flat trend pattern. The United States (+4.7 p.p.), Germany (+4.6 p.p.) and the Netherlands (+2.2 p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($2.4B) constitutes the largest market for imported iron or steel gas domestic cooking appliances and plate warmers worldwide, comprising 36% of global imports. The second position in the ranking was taken by Germany ($460M), with a 6.9% share of global imports. It was followed by Canada, with a 6% share.

From 2012 to 2022, the average annual growth rate of value in the United States amounted to +5.3%. In the other countries, the average annual rates were as follows: Germany (+11.7% per year) and Canada (+3.0% per year).

Import Prices By Country

In 2022, the average import price for iron or steel gas domestic cooking appliances and plate warmers amounted to $99 per unit, increasing by 9.5% against the previous year. In general, the import price saw a relatively flat trend pattern. Global import price peaked at $106 per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($160 per unit), while Ukraine ($13 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+14.3%), while the other global leaders experienced more modest paces of growth.

Exports

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

In 2022, after six years of growth, there was significant decline in overseas shipments of iron or steel gas domestic cooking appliances and plate warmers, when their volume decreased by -10% to 91M units. The total export volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when exports increased by 17%. The global exports peaked at 101M units in 2021, and then reduced in the following year.

In value terms, exports of iron or steel gas domestic cooking appliances and plate warmers contracted to $6.2B in 2022. The total export value increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 32%. As a result, the exports reached the peak of $7.2B, and then dropped in the following year.

Exports By Country

China dominates warmers structure, reaching 64M units, which was near 71% of total exports in 2022. It was distantly followed by Turkey (7.1M units), creating a 7.8% share of total exports. India (3.1M units), the Netherlands (2.2M units), Italy (2M units) and Mexico (1.7M units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +3.9% from 2012 to 2022. At the same time, India (+22.1%), the Netherlands (+12.2%), Turkey (+6.0%) and Mexico (+4.3%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in the world, with a CAGR of +22.1% from 2012-2022. By contrast, Italy (-4.8%) illustrated a downward trend over the same period. China (+5.7 p.p.), India (+2.8 p.p.) and Turkey (+2 p.p.) significantly strengthened its position in terms of the global exports, while Italy saw its share reduced by -2.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($2.9B) remains the largest iron or steel gas domestic cooking appliances and plate warmers supplier worldwide, comprising 47% of global exports. The second position in the ranking was taken by Mexico ($593M), with a 9.6% share of global exports. It was followed by Turkey, with a 7.9% share.

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. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (+5.2% per year) and Turkey (+4.7% per year).

Export Prices By Country

The average export price for iron or steel gas domestic cooking appliances and plate warmers stood at $68 per unit in 2022, with a decrease of -5% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 22%. As a result, the export price attained the peak level of $71 per unit, and then declined slightly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($345 per unit), while India ($8.6 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform