Report Update Apr 1, 2024

Cuba - Electric Water Heaters and Immersion Heaters - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Electric Water Heater Market 2024

Electric Water Heater Market Size in Cuba

In 2021, after two years of decline, there was significant growth in the Cuban electric water heater market, when its value increased by 181% to $X. In general, consumption, however, continues to indicate a deep reduction. Electric water heater consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Electric Water Heater Exports

Exports from Cuba

In 2021, electric water heater exports from Cuba stood at X units, almost unchanged from 2020. Overall, exports saw a sharp contraction. The smallest decline of -68.8% was in 2013. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, electric water heater exports stood at $X in 2021. In general, exports continue to indicate a sharp setback. The smallest decline of -20.3% was in 2019. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Trinidad and Tobago (X units) was the main destination for electric water heater exports from Cuba, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Trinidad and Tobago was relatively modest.

From 2012 to 2021, the average annual rate of growth in terms of value to Trinidad and Tobago was relatively modest.

Export Prices by Country

In 2021, the average electric water heater export price amounted to $X per unit, almost unchanged from the previous year. In general, the export price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2013 when the average export price increased by 3.9% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Trinidad and Tobago.

From 2012 to 2021, the rate of growth in terms of prices for Belgium amounted to +172.7% per year.

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Electric Water Heater Imports

Imports into Cuba

After two years of decline, purchases abroad of electric water heaters and immersion heaters increased by 215% to X units in 2021. Overall, imports, however, continue to indicate a deep reduction. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, electric water heater imports soared to $X in 2021. In general, imports, however, showed a deep contraction. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Brazil (X units) constituted the largest supplier of electric water heater to Cuba, accounting for a 88% share of total imports. Moreover, electric water heater imports from Brazil exceeded the figures recorded by the second-largest supplier, China (X units), ninefold.

From 2012 to 2021, the average annual growth rate of volume from Brazil stood at -19.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+25.7% per year) and Saudi Arabia (-34.7% per year).

In value terms, the largest electric water heater suppliers to Cuba were Brazil ($X), China ($X) and Saudi Arabia ($X), with a combined 94% share of total imports.

Among the main suppliers, China, with a CAGR of +36.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average electric water heater import price amounted to $X per unit, declining by -16.5% against the previous year. In general, the import price, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2019 when the average import price increased by 63%. Over the period under review, average import prices attained the maximum at $X per unit in 2020, and then contracted markedly in the following year.

Prices varied noticeably country of origin: the country with the highest price was Saudi Arabia ($X per unit), while the price for Brazil ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+12.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for electric water heaters and immersion heaters in the world?

The country with the largest volume of electric water heater consumption was China, comprising approx. 20% of total volume. Moreover, electric water heater consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. The third position in this ranking was taken by India, with a 7.5% share.

What are the largest producers of electric water heaters and immersion heaters in the world?

China constituted the country with the largest volume of electric water heater production, accounting for 30% of total volume. Moreover, electric water heater production in China exceeded the figures recorded by the second-largest producer, India, threefold. The third position in this ranking was taken by Pakistan, with a 6.7% share.

What are the leading suppliers of electric water heaters and immersion heaters to Cuba?

In value terms, Brazil, China and Saudi Arabia constituted the largest electric water heater suppliers to Cuba, together accounting for 94% of total imports.

What is the average export price for electric water heaters and immersion heaters in Cuba?

The average electric water heater export price stood at $38 per unit in 2021, stabilizing at the previous year.

What is the average import price for electric water heaters and immersion heaters in Cuba?

The average electric water heater import price stood at $51 per unit in 2021, with a decrease of -16.5% against the previous year.

This report provides an in-depth analysis of the electric water heater market in Cuba. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 27512530 - Electric instantaneous water heaters
Prodcom 27512550 -
Prodcom 27512570 -
Prodcom 27512560 - Electric water heaters and immersion heaters (excluding instantaneous water heaters)

Country coverage:

Cuba

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Cuba
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023