GCC: Thermostat Market 2024

Thermostat Market Size in GCC

The GCC thermostat market reached $X in 2022, picking up by X% against the previous year. Overall, consumption, however, posted a resilient expansion. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Thermostat Production in GCC

In value terms, thermostat production expanded modestly to $X in 2022 estimated in export price. In general, production recorded a prominent expansion. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Thermostat Exports

Exports in GCC

In 2022, thermostat exports in GCC contracted dramatically to X units, reducing by X% on the year before. Over the period under review, exports, however, saw moderate growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, thermostat exports declined to $X in 2022. Overall, exports, however, saw a prominent increase. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Bahrain (X units) and the United Arab Emirates (X units) prevails in exports structure, together mixing up X% of total exports. Oman (X units) took a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the United Arab Emirates ($X) remains the largest thermostat supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Bahrain ($X), with a X% share of total exports.

In the United Arab Emirates, thermostat exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Bahrain (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, picking up by X% against the previous year. Overall, the export price posted a resilient increase. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. The level of export peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

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 ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

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

Thermostat Imports

Imports in GCC

In 2022, the amount of thermostats imported in GCC reduced markedly to X units, falling by X% against 2021 figures. Overall, imports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports reached the maximum at X units in 2021, and then plummeted in the following year.

In value terms, thermostat imports contracted sharply to $X in 2022. Over the period under review, imports showed a mild shrinkage. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then dropped markedly in the following year.

Imports by Country

The United Arab Emirates prevails in imports structure, accounting for X units, which was near X% of total imports in 2022. It was distantly followed by Oman (X units), achieving a X% share of total imports. Kuwait (X units) and Bahrain (X units) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the thermostats imports, with a CAGR of X% from 2012 to 2022. At the same time, Bahrain (X%) and Oman (X%) displayed positive paces of growth. Kuwait experienced a relatively flat trend pattern. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Oman (X p.p.) and Kuwait (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In the United Arab Emirates, thermostat imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (X% per year) and Oman (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, dropping by X% against the previous year. Over the period under review, the import price showed a abrupt contraction. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, 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 Kuwait (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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