Middle East: Non-Electric Industrial Furnace Market 2024

Non-Electric Industrial Furnace Market Size in the Middle East

In 2023, after two years of growth, there was significant decline in the Middle Eastern non-electric industrial furnace market, when its value decreased by X% to $X. Overall, consumption saw a pronounced decrease. As a result, consumption reached the peak level of $X. From 2014 to 2023, the growth of the market failed to regain momentum.

Non-Electric Industrial Furnace Production in the Middle East

In value terms, non-electric industrial furnace production reached $X in 2023 estimated in export price. Overall, production, however, recorded a slight downturn. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

Non-Electric Industrial Furnace Exports

Exports in the Middle East

In 2023, non-electric industrial furnace exports in the Middle East surged to X units, rising by X% on the year before. Over the period under review, exports, however, saw a perceptible decline. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, non-electric industrial furnace exports skyrocketed to $X in 2023. Overall, exports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2023, the United Arab Emirates (X units) was the major exporter of non-electric industrial or laboratory furnaces and ovens, making up X% of total exports. Israel (X units) held the second position in the ranking, followed by Turkey (X units). All these countries together took approx. X% share of total exports. Iran (X units), Bahrain (X units) and Lebanon (X units) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to non-electric industrial furnace exports from the United Arab Emirates stood at X%. At the same time, Bahrain (X%), Iran (X%) and Turkey (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2023. Israel experienced a relatively flat trend pattern. By contrast, Lebanon (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.), Israel (X p.p.), Bahrain (X p.p.) and Iran (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Lebanon (X p.p.) and the United Arab Emirates (X p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest non-electric industrial furnace supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by Israel ($X), with an X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

In Turkey, non-electric industrial furnace exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Israel (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2023, reducing by X% against the previous year. In general, the export price, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2022 when the export price increased by X%. As a result, the export price reached the peak level of $X per unit, and then plummeted in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Lebanon (X%), while the other leaders experienced more modest paces of growth.

Non-Electric Industrial Furnace Imports

Imports in the Middle East

In 2023, approx. X units of non-electric industrial or laboratory furnaces and ovens were imported in the Middle East; with a decrease of X% on 2022 figures. Overall, imports continue to indicate a sharp curtailment. The growth pace was the most rapid in 2016 with an increase of X%. The volume of import peaked at X units in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, non-electric industrial furnace imports reached $X in 2023. In general, imports continue to indicate a abrupt slump. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, the United Arab Emirates (X units), distantly followed by Qatar (X units), Iran (X units), Turkey (X units), Kuwait (X units), Iraq (X units) and Israel (X units) represented the largest importers of non-electric industrial or laboratory furnaces and ovens, together making up X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Iraq (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Turkey ($X) constitutes the largest market for imported non-electric industrial or laboratory furnaces and ovens in the Middle East, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Iran, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Turkey was relatively modest. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Iran (X% per year).

Import Prices by Country

In 2023, the import price in the Middle East amounted to $X per unit, picking up by X% against the previous year. Over the period under review, the import price recorded a significant expansion. The growth pace was the most rapid in 2021 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2022 to 2023, 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 Turkey ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Qatar (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform