Dominican Republic: Electric Water Heater Market 2024

Electric Water Heater Market Size in the Dominican Republic

The Dominican electric water heater market surged to $X in 2022, with an increase of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a significant expansion. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Electric Water Heater Exports

Exports from the Dominican Republic

In 2022, shipments abroad of electric water heaters and immersion heaters increased by X% to X units, rising for the third year in a row after two years of decline. In general, exports, however, continue to indicate a dramatic decrease. The pace of growth was the most pronounced in 2014 when exports increased by X%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, electric water heater exports skyrocketed to $X in 2022. Overall, exports, however, showed a sharp decline. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Haiti (X units) was the main destination for electric water heater exports from the Dominican Republic, accounting for a X% share of total exports. Moreover, electric water heater exports to Haiti exceeded the volume sent to the second major destination, the United States (X units), threefold. Mexico (X units) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Haiti amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Mexico (X% per year).

In value terms, Haiti ($X) remains the key foreign market for electric water heaters and immersion heaters exports from the Dominican Republic, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by Turks and Caicos Islands, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Haiti totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Turks and Caicos Islands (X% per year).

Export Prices by Country

In 2022, the average electric water heater export price amounted to $X per unit, declining by X% against the previous year. In general, the export price continues to indicate a slight contraction. The growth pace was the most rapid in 2018 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Haiti ($X per unit), while the average price for exports to Ecuador ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turks and Caicos Islands (X%), while the prices for the other major destinations experienced mixed trend patterns.

Electric Water Heater Imports

Imports into the Dominican Republic

In 2022, imports of electric water heaters and immersion heaters into the Dominican Republic soared to X units, with an increase of X% against 2021 figures. Overall, imports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, electric water heater imports skyrocketed to $X in 2022. Over the period under review, imports recorded significant growth. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X units), the United States (X units) and Mexico (X units) were the main suppliers of electric water heater imports to the Dominican Republic, together accounting for X% of total imports. Brazil and Germany lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (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 suppliers to the Dominican Republic were the United States ($X), China ($X) and Mexico ($X), with a combined X% share of total imports. Germany and Brazil lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Brazil, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the average electric water heater import price amounted to $X per unit, surging by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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