GCC: Electric Blanket Market 2024

Electric Blanket Market Size in GCC

After two years of decline, the GCC electric blanket market increased by 290% to $X in 2021. In general, consumption showed tangible growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Electric Blanket Production in GCC

In value terms, electric blanket production fell to $X in 2021 estimated in export price. Overall, production faced a deep reduction. The most prominent rate of growth was recorded in 2017 when the production volume increased by 163% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Electric Blanket Exports

Exports in GCC

In 2021, after two years of growth, there was significant decline in overseas shipments of electric blankets, when their volume decreased by -53.1% to X units. Overall, exports faced a abrupt decline. The pace of growth was the most pronounced in 2017 when exports increased by 430%. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, electric blanket exports reduced sharply to $X in 2021. Over the period under review, exports showed a abrupt downturn. The pace of growth was the most pronounced in 2017 when exports increased by 325% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates was the major exporting country with an export of about X units, which reached 66% of total exports. It was distantly followed by Bahrain (X units) and Saudi Arabia (X units), together making up a 33% share of total exports.

Exports from the United Arab Emirates decreased at an average annual rate of -17.4% from 2012 to 2021. At the same time, Bahrain (+2.9%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in GCC, with a CAGR of +2.9% from 2012-2021. By contrast, Saudi Arabia (-24.4%) illustrated a downward trend over the same period. Bahrain (+16 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by -17% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest electric blanket supplier in GCC, comprising 64% of total exports. The second position in the ranking was held by Bahrain ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates stood at -18.2%. In the other countries, the average annual rates were as follows: Bahrain (+3.3% per year) and Saudi Arabia (-13.6% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2021, increasing by 17% against the previous year. Export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, electric blanket export price decreased by -8.5% against 2019 indices. The growth pace was the most rapid in 2015 when the export price increased by 56% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+14.2%), while the other leaders experienced mixed trends in the export price figures.

Electric Blanket Imports

Imports in GCC

After two years of decline, overseas purchases of electric blankets increased by 392% to X units in 2021. In general, imports showed a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, electric blanket imports soared to $X in 2021. Over the period under review, imports recorded a noticeable expansion. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates was the largest importing country with an import of around X units, which finished at 71% of total imports. It was distantly followed by Qatar (X units) and Kuwait (X units), together achieving a 25% share of total imports. Oman (X units) took a relatively small share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the electric blankets imports, with a CAGR of +43.6% from 2012 to 2021. At the same time, Qatar (+20.1%) and Kuwait (+10.4%) displayed positive paces of growth. By contrast, Oman (-21.6%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+65 p.p.) and Qatar (+8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Oman (-70.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported electric blankets in GCC, comprising 62% of total imports. The second position in the ranking was held by Kuwait ($X), with a 16% share of total imports. It was followed by Qatar, with a 14% share.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates amounted to +31.8%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (+21.0% per year) and Qatar (+15.0% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per unit, dropping by -8.7% against the previous year. Overall, the import price recorded a abrupt decrease. The growth pace was the most rapid in 2013 an increase of 220%. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the 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 Oman ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+9.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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