GCC: Metal Gas Appliances Market 2024

Metal Gas Appliances Market Size in GCC

The GCC metal gas appliances market was estimated at $X in 2022, growing by 12% against the previous year. Over the period under review, consumption, however, recorded a noticeable downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Metal Gas Appliances Production in GCC

In value terms, metal gas appliances production surged to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2020 with an increase of 90% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Metal Gas Appliances Exports

Exports in GCC

In 2022, exports of iron or steel gas domestic appliances in GCC declined markedly to X units, which is down by -16.9% on 2021 figures. Overall, exports, however, continue to indicate prominent growth. The growth pace was the most rapid in 2017 with an increase of 194% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, metal gas appliances exports contracted to $X in 2022. In general, exports, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2017 when exports increased by 198%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates was the key exporting country with an export of around X units, which reached 83% of total exports. It was distantly followed by Kuwait (X units), generating a 13% share of total exports. Oman (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to metal gas appliances exports from the United Arab Emirates stood at +12.1%. At the same time, Oman (+58.7%) and Kuwait (+14.4%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +58.7% from 2012-2022. While the share of Oman (+3.2 p.p.) and Kuwait (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (-3.7 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest metal gas appliances supplier in GCC, comprising 64% of total exports. The second position in the ranking was taken by Kuwait ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates stood at +6.7%. In the other countries, the average annual rates were as follows: Kuwait (+14.4% per year) and Oman (+75.3% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, surging by 14% against the previous year. Over the period under review, the export price, however, saw a perceptible slump. The most prominent rate of growth was recorded in 2019 an increase of 83% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 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 Oman ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+10.4%), while the other leaders experienced a decline in the export price figures.

Metal Gas Appliances Imports

Imports in GCC

In 2022, the amount of iron or steel gas domestic appliances imported in GCC shrank rapidly to X units, which is down by -18% against 2021 figures. Overall, imports, however, continue to indicate a strong increase. The pace of growth appeared the most rapid in 2019 with an increase of 83%. Over the period under review, imports attained the maximum at X units in 2021, and then reduced markedly in the following year.

In value terms, metal gas appliances imports reduced rapidly to $X in 2022. Over the period under review, imports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of 105% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates represented the key importing country with an import of around X units, which finished at 60% of total imports. Kuwait (X units) took the second position in the ranking, distantly followed by Qatar (X units) and Bahrain (X units). All these countries together held near 35% share of total imports. Oman (X units) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to metal gas appliances imports into the United Arab Emirates stood at +8.9%. At the same time, Qatar (+33.1%), Bahrain (+7.0%) and Kuwait (+3.8%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +33.1% from 2012-2022. Oman experienced a relatively flat trend pattern. The United Arab Emirates (+7.4 p.p.) and Qatar (+7 p.p.) significantly strengthened its position in terms of the total imports, while Oman and Kuwait saw its share reduced by -4.9% and -9.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported iron or steel gas domestic appliances in GCC, comprising 72% of total imports. The second position in the ranking was held by Kuwait ($X), with a 12% share of total imports. It was followed by Oman, with a 6.2% share.

In the United Arab Emirates, metal gas appliances imports increased at an average annual rate of +11.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (-0.7% per year) and Oman (+13.4% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, approximately equating the previous year. In general, the import price continues to indicate a slight increase. The pace of growth was the most pronounced in 2015 an increase of 50% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, 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 ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+14.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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