Dominican Republic: Thermostat Market 2024

Thermostat Market Size in the Dominican Republic

The Dominican thermostat market surged to $X in 2022, rising by 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). Over the period under review, consumption posted a buoyant increase. Thermostat consumption peaked in 2022 and is likely to see gradual growth in the near future.

Thermostat Exports

Exports from the Dominican Republic

In 2022, shipments abroad of thermostats decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, thermostat exports shrank to $X in 2022. Overall, exports, however, continue to indicate perceptible growth. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for thermostat exports from the Dominican Republic, with a X% share of total exports. Moreover, thermostat exports to the United States exceeded the volume sent to the second major destination, Turks and Caicos Islands (X units), tenfold.

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

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

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

Export Prices by Country

In 2022, the average thermostat export price amounted to $X per unit, which is down by X% against the previous year. Over the period under review, the export price, however, posted strong growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Turks and Caicos Islands ($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 Haiti (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Thermostat Imports

Imports into the Dominican Republic

In 2022, purchases abroad of thermostats increased by X% to X units, rising for the second consecutive year after three years of decline. Over the period under review, imports enjoyed a prominent increase. The pace of growth appeared the most rapid in 2016 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, thermostat imports soared to $X in 2022. Overall, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of thermostat to the Dominican Republic, with a X% share of total imports. Moreover, thermostat imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. The third position in this ranking was held by Japan (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Japan (X% per year).

In value terms, the largest thermostat suppliers to the Dominican Republic were the United States ($X), China ($X) and Spain ($X), together accounting for X% of total imports. Japan, Brazil, Germany, Mexico and South Korea lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Brazil, with a CAGR of X%, recorded 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 average thermostat import price stood at $X per unit in 2022, which is down by X% against the previous year. Over the period under review, the import price saw a noticeable setback. The pace of growth appeared the most rapid in 2018 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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