MENA: Electric Water Heater Market 2024

Electric Water Heater Market Size in MENA

The MENA's electric water heater market shrank slightly to $X in 2022, reducing by X% against the previous year. The total consumption indicated a strong increase 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, consumption increased by X% against 2020 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Electric Water Heater Production in MENA

In value terms, electric water heater production shrank to $X in 2022 estimated in export price. In general, production, however, showed buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Electric Water Heater Exports

Exports in MENA

Electric water heater exports amounted to X units in 2022, increasing by X% on the previous year's figure. Total exports indicated strong growth from 2012 to 2022: its volume 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, exports increased by X% against 2014 indices. The pace of growth was the most pronounced in 2014 when exports increased by X%. The volume of export peaked in 2022 and is likely to see steady growth in years to come.

In value terms, electric water heater exports totaled $X in 2022. Total exports indicated resilient growth 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, exports increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, Egypt (X units) was the main exporter of electric water heaters and immersion heaters, making up X% of total exports. It was distantly followed by Turkey (X units), the United Arab Emirates (X units) and Saudi Arabia (X units), together making up a X% share of total exports. Oman (X units) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to electric water heater exports from Egypt stood at X%. At the same time, the United Arab Emirates (X%), Turkey (X%) and Oman (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. Saudi Arabia experienced a relatively flat trend pattern. While the share of Egypt (X p.p.) and the United Arab Emirates (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Turkey (X p.p.) and Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Egypt ($X) remains the largest electric water heater supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Turkey, with a X% share.

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

Export Prices by Country

In 2022, the export price in MENA amounted to $X per unit, surging by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of X%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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 Egypt ($X per unit), while Turkey ($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 (X%), while the other leaders experienced more modest paces of growth.

Electric Water Heater Imports

Imports in MENA

In 2022, approx. X units of electric water heaters and immersion heaters were imported in MENA; declining by X% on 2021 figures. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports reached the peak figure at X units in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, electric water heater imports rose to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X units) and the United Arab Emirates (X units) were the major importers of electric water heaters and immersion heaters in MENA, together generating X% of total imports. Saudi Arabia (X units) took the next position in the ranking, followed by Morocco (X units), Iraq (X units) and Libya (X units). All these countries together held near X% share of total imports. The following importers - Qatar (X units), Kuwait (X units), Israel (X units), Oman (X units), Jordan (X units), Algeria (X units) and Bahrain (X units) - together made up X% of total imports.

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

In value terms, the largest electric water heater importing markets in MENA were the United Arab Emirates ($X), Saudi Arabia ($X) and Morocco ($X), with a combined X% share of total imports. Turkey, Libya, Qatar, Israel, Iraq, Kuwait, Oman, Jordan, Bahrain and Algeria lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Iraq, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Saudi Arabia ($X per unit), while Turkey ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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