GCC: Market for Furnace Burners For Liquid Fuel 2024

Market Size for Furnace Burners For Liquid Fuel in GCC

The GCC liquid fuel furnace burner market skyrocketed to $X in 2022, rising by X% against the previous year. Overall, consumption saw a noticeable shrinkage. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Production of Furnace Burners For Liquid Fuel in GCC

In value terms, liquid fuel furnace burner production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Exports of Furnace Burners For Liquid Fuel

Exports in GCC

In 2022, shipments abroad of furnace burners for liquid fuel was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, liquid fuel furnace burner exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates prevails in exports structure, recording X units, which was near X% of total exports in 2022. The following exporters - Kuwait (X units) and Saudi Arabia (X units) - each recorded a X% share of total exports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of furnace burners for liquid fuel. At the same time, Kuwait (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of Kuwait (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 Saudi Arabia (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest liquid fuel furnace burner supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Kuwait ($X), with an X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates stood at X%. In the other countries, the average annual rates were as follows: Kuwait (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, declining by X% against the previous year. Overall, the export price saw a noticeable slump. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per unit, and then contracted remarkably in the following year.

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 Kuwait ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Furnace Burners For Liquid Fuel

Imports in GCC

In 2022, approx. X units of furnace burners for liquid fuel were imported in GCC; waning by X% compared with 2021 figures. Overall, imports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 when imports increased by X%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, liquid fuel furnace burner imports contracted significantly to $X in 2022. In general, imports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates represented the major importer of furnace burners for liquid fuel in GCC, with the volume of imports accounting for X units, which was near X% of total imports in 2022. Oman (X units) ranks second in terms of the total imports with a X% share, followed by Kuwait (X%).

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of imports of furnace burners for liquid fuel. At the same time, Oman (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. By contrast, Kuwait (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates and Oman increased by X and X percentage points, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported furnace burners for liquid fuel in GCC, comprising X% of total imports. The second position in the ranking was taken by Oman ($X), with a X% share of total imports.

In the United Arab Emirates, liquid fuel furnace burner imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Oman (X% per year) and Kuwait (X% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, with a decrease of X% against the previous year. In general, the import price saw a perceptible decline. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Kuwait ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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