Kuwait: Electric Heating Equipment Market 2024

Electric Heating Equipment Market Size in Kuwait

The Kuwaiti electric heating equipment market skyrocketed to $X in 2022, with an increase of X% against the previous year. In general, consumption recorded resilient growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Electric Heating Equipment Production in Kuwait

In value terms, electric heating equipment production declined notably to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a dramatic curtailment. The pace of growth was the most pronounced in 2019 when the production volume decreased by X% against the previous year. Electric heating equipment production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Electric Heating Equipment Exports

Exports from Kuwait

In 2022, approx. X units of electric space heating apparatus and soil heating apparatus were exported from Kuwait; falling by X% on 2021 figures. Over the period under review, exports faced a deep slump. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, electric heating equipment exports reduced markedly to $X in 2022. Overall, exports showed a sharp slump. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Bahrain (X units) was the main destination for electric heating equipment exports from Kuwait, with a X% share of total exports. Moreover, electric heating equipment exports to Bahrain exceeded the volume sent to the second major destination, the UK (X units), sixfold. The third position in this ranking was taken by the United Arab Emirates (X units), with an X% share.

From 2013 to 2022, the average annual growth rate of volume to Bahrain amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and the United Arab Emirates (X% per year).

In value terms, the largest markets for electric heating equipment exported from Kuwait were the United Arab Emirates ($X), Bahrain ($X) and the UK ($X), with a combined X% share of total exports.

Bahrain, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average electric heating equipment export price amounted to $X per unit, falling by X% against the previous year. In general, the export price saw a deep contraction. The growth pace was the most rapid in 2020 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to Bahrain ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Heating Equipment Imports

Imports into Kuwait

In 2022, overseas purchases of electric space heating apparatus and soil heating apparatus increased by X% to X units, rising for the fourth consecutive year after two years of decline. In general, imports saw significant growth. The pace of growth appeared the most rapid in 2016 with an increase of X%. 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 heating equipment imports skyrocketed to $X in 2022. Overall, imports showed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest electric heating equipment supplier to Kuwait, with a X% share of total imports. Moreover, electric heating equipment imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), threefold.

From 2013 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Saudi Arabia (X% per year).

In value terms, China ($X), Saudi Arabia ($X) and Turkey ($X) appeared to be the largest electric heating equipment suppliers to Kuwait, together accounting for X% of total imports.

Saudi Arabia, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average electric heating equipment import price stood at $X per unit in 2022, with an increase of X% against the previous year. In general, the import price, however, recorded a pronounced decrease. The growth pace was the most rapid in 2017 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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