GCC: Electric Heating Equipment Market 2024

Electric Heating Equipment Market Size in GCC

The GCC electric heating equipment market dropped to $X in 2022, falling by X% against the previous year. Overall, consumption, however, showed a buoyant increase. The level of consumption peaked at $X in 2021, and then reduced in the following year.

Electric Heating Equipment Production in GCC

In value terms, electric heating equipment production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production saw a buoyant expansion. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The level of production peaked in 2022 and is likely to continue growth in years to come.

Electric Heating Equipment Exports

Exports in GCC

Electric heating equipment exports skyrocketed to X units in 2022, surging by X% on 2021. Over the period under review, exports continue to indicate significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, electric heating equipment exports soared to $X in 2022. Overall, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Bahrain (X units) represented the major exporter of electric space heating apparatus and soil heating apparatus, constituting X% of total exports. It was distantly followed by the United Arab Emirates (X units), comprising a X% share of total exports. Saudi Arabia (X units) held a little share of total exports.

Bahrain was also the fastest-growing in terms of the electric space heating apparatus and soil heating apparatus exports, with a CAGR of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Bahrain and Saudi Arabia increased by X and X percentage points, respectively.

In value terms, the United Arab Emirates ($X) emerged as the largest electric heating equipment supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Bahrain (X% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, declining by X% against the previous year. Overall, the export price continues to indicate a abrupt decline. The growth pace was the most rapid in 2019 when the export price increased by X%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

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

Electric Heating Equipment Imports

Imports in GCC

Electric heating equipment imports expanded markedly to X units in 2022, increasing by X% compared with the previous year's figure. In general, imports saw a resilient increase. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, electric heating equipment imports surged to $X in 2022. Total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Saudi Arabia (X units) and Kuwait (X units) represented the key importers of electric space heating apparatus and soil heating apparatus in GCC, together accounting for near X% of total imports. It was distantly followed by the United Arab Emirates (X units), achieving a X% share of total imports. Qatar (X units) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Kuwait (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Kuwait ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Among the main importing countries, Kuwait, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, with an increase of X% against the previous year. Overall, the import price, however, recorded a noticeable decrease. The pace of growth appeared the most rapid in 2015 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 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 Qatar ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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