GCC: Market for Iron Or Steel Liquid Fuel Domestic Appliances 2024

Market Size for Iron Or Steel Liquid Fuel Domestic Appliances in GCC

The GCC metal liquid fuel appliances market dropped to $X in 2022, waning by -13.8% against the previous year. In general, consumption, however, saw a perceptible slump. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Production of Iron Or Steel Liquid Fuel Domestic Appliances in GCC

In value terms, metal liquid fuel appliances production fell to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 75%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Iron Or Steel Liquid Fuel Domestic Appliances

Exports in GCC

In 2022, the amount of iron or steel liquid fuel domestic appliances exported in GCC declined to X units, which is down by -3.3% on the previous year's figure. In general, exports, however, continue to indicate a strong increase. The growth pace was the most rapid in 2015 when exports increased by 121%. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, metal liquid fuel appliances exports dropped to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 84% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Kuwait (X units) and Bahrain (X units) were the main exporters of iron or steel liquid fuel domestic appliances in GCC, together amounting to near 89% of total exports. It was distantly followed by the United Arab Emirates (X units), achieving an 11% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of +18.6%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Kuwait ($X), Bahrain ($X) and the United Arab Emirates ($X) were the countries with the highest levels of exports in 2022, together accounting for 98% of total exports.

Among the main exporting countries, Bahrain, with a CAGR of +9.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, dropping by -3.8% against the previous year. Overall, the export price saw a abrupt curtailment. The pace of growth was the most pronounced in 2013 when the export price increased by 16%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the export prices failed to regain momentum.

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 the United Arab Emirates (-1.4%), while the other leaders experienced a decline in the export price figures.

Imports of Iron Or Steel Liquid Fuel Domestic Appliances

Imports in GCC

In 2022, after two years of growth, there was significant decline in supplies from abroad of iron or steel liquid fuel domestic appliances, when their volume decreased by -8.5% to X units. In general, imports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 97%. Over the period under review, imports attained the maximum at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, metal liquid fuel appliances imports contracted sharply to $X in 2022. Over the period under review, imports showed a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 171%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X units) and Kuwait (X units) represented the major importers of iron or steel liquid fuel domestic appliances in 2022, recording approx. 41% and 37% of total imports, respectively. It was distantly followed by Bahrain (X units), achieving a 17% share of total imports. Qatar (X units) and Oman (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Qatar (with a CAGR of +83.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported iron or steel liquid fuel domestic appliances in GCC, comprising 65% of total imports. The second position in the ranking was held by Kuwait ($X), with a 23% share of total imports. It was followed by Qatar, with a 7.8% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates stood at -14.3%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (-4.6% per year) and Qatar (+29.6% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, declining by -55.9% against the previous year. In general, the import price recorded a abrupt curtailment. The pace of growth was the most pronounced in 2021 an increase of 169% against the previous year. Over the period under review, import prices reached the maximum 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 ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (-3.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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