GCC: Market for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers 2024

Market Size for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers in GCC

In 2022, the GCC market for iron or steel gas domestic cooking appliances and plate warmers decreased by -3.7% to $X for the first time since 2018, thus ending a three-year rising trend. The total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then reduced slightly in the following year.

Production of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers in GCC

In value terms, production of iron or steel gas domestic cooking appliances and plate warmers expanded to $X in 2022 estimated in export price. In general, production showed a prominent expansion. The growth pace was the most rapid in 2017 when the production volume increased by 70%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Exports in GCC

In 2022, exports of iron or steel gas domestic cooking appliances and plate warmers in GCC shrank dramatically to X units, which is down by -32.5% compared with the previous year. Overall, exports, however, showed a temperate increase. The most prominent rate of growth was recorded in 2017 with an increase of 162%. Over the period under review, the exports of attained the peak figure at X units in 2021, and then shrank sharply in the following year.

In value terms, exports of iron or steel gas domestic cooking appliances and plate warmers fell to $X in 2022. Over the period under review, exports, however, showed tangible growth. The most prominent rate of growth was recorded in 2017 when exports increased by 463% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

The United Arab Emirates prevails in warmers structure, resulting at X units, which was approx. 88% of total exports in 2022. It was distantly followed by Saudi Arabia (X units) and Oman (X units), together making up an 11% share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of +7.5% from 2012 to 2022. At the same time, Oman (+67.3%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +67.3% from 2012-2022. By contrast, Saudi Arabia (-7.9%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+19 p.p.) and Oman (+4.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (-15.8 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest iron or steel gas domestic cooking appliances and plate warmers supplier in GCC, comprising 79% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 10% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled +7.2%. In the other countries, the average annual rates were as follows: Saudi Arabia (-8.8% per year) and Oman (+62.0% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, jumping by 32% against the previous year. Overall, the export price, however, recorded a slight slump. The most prominent rate of growth was recorded in 2017 an increase of 115% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-0.3%), while the other leaders experienced a decline in the export price figures.

Imports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Imports in GCC

Imports of iron or steel gas domestic cooking appliances and plate warmers contracted remarkably to X units in 2022, with a decrease of -16.3% against the year before. Over the period under review, imports showed a noticeable slump. The most prominent rate of growth was recorded in 2017 with an increase of 19%. The volume of import peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, imports of iron or steel gas domestic cooking appliances and plate warmers dropped to $X in 2022. Total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +66.0% against 2018 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 29%. Over the period under review, imports of hit record highs at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, the United Arab Emirates (X units) represented the main importer of iron or steel gas domestic cooking appliances and plate warmers, mixing up 57% of total imports. Kuwait (X units) held a 19% share (based on physical terms) of total imports, which put it in second place, followed by Oman (12%), Qatar (7%) and Bahrain (5.2%).

From 2012 to 2022, average annual rates of growth with regard to iron or steel gas domestic cooking appliances and plate warmers imports into the United Arab Emirates stood at -6.8%. At the same time, Qatar (+3.3%), Oman (+2.6%), Kuwait (+1.8%) and Bahrain (+1.0%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +3.3% from 2012-2022. Kuwait (+8.4 p.p.), Oman (+5.8 p.p.), Qatar (+3.6 p.p.) and Bahrain (+2 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by -19.9% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported iron or steel gas domestic cooking appliances and plate warmers in GCC, comprising 35% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 9.3% share of total imports. It was followed by Oman, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at +5.2%. In the other countries, the average annual rates were as follows: Kuwait (+3.1% per year) and Oman (+4.5% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, increasing by 5.7% against the previous year. In general, the import price showed a resilient expansion. The growth pace was the most rapid in 2019 an increase of 44%. The level of import peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+12.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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