Kuwait: Radiator Market 2023

Radiator Market Size in Kuwait

The Kuwaiti radiator market reduced to $X in 2022, waning by -2.3% against the previous year. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Radiator Production in Kuwait

In value terms, radiator production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when the production volume increased by 26% against the previous year. Radiator production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Radiator Exports

Exports from Kuwait

After two years of growth, shipments abroad of radiators for central heating (not electrically heated) decreased by -44.7% to X tons in 2022. Overall, exports saw a pronounced decline. The most prominent rate of growth was recorded in 2014 when exports increased by 325%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, radiator exports dropped to $X in 2022. In general, exports continue to indicate a deep reduction. The growth pace was the most rapid in 2014 with an increase of 449% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for radiator exports from Kuwait, accounting for a 66% share of total exports. Moreover, radiator exports to the United Arab Emirates exceeded the volume sent to the second major destination, Saudi Arabia (X kg), threefold. The third position in this ranking was held by Bahrain (X kg), with a 9.3% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates totaled -2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+16.0% per year) and Bahrain (-13.8% per year).

In value terms, Saudi Arabia ($X), Bahrain ($X) and the United Arab Emirates ($X) constituted the largest markets for radiator exported from Kuwait worldwide, with a combined 100% share of total exports. These countries were followed by India, which accounted for a further 0.3%.

In terms of the main countries of destination, India, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average radiator export price amounted to $X per ton, rising by 67% against the previous year. In general, the export price, however, saw a perceptible contraction. The pace of growth appeared the most rapid in 2017 an increase of 149%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (+13.1%), while the prices for the other major destinations experienced a decline.

Radiator Imports

Imports into Kuwait

In 2022, imports of radiators for central heating (not electrically heated) into Kuwait fell sharply to X tons, shrinking by -34.8% on the previous year's figure. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 349%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, radiator imports soared to $X in 2022. Over the period under review, imports recorded a perceptible decline. The pace of growth appeared the most rapid in 2018 when imports increased by 114%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest supplier of radiator to Kuwait, accounting for a 50% share of total imports. Moreover, radiator imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was taken by Saudi Arabia (X tons), with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates totaled +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+38.7% per year) and Saudi Arabia (-5.8% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of radiators for central heating (not electrically heated) to Kuwait, comprising 58% of total imports. The second position in the ranking was taken by China ($X), with a 10% share of total imports. It was followed by Saudi Arabia, with a 3.8% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates stood at +21.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+27.1% per year) and Saudi Arabia (-10.5% per year).

Import Prices by Country

The average radiator import price stood at $X per ton in 2022, increasing by 83% against the previous year. Over the period under review, the import price, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2020 when the average import price increased by 114% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton 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 the United Arab Emirates ($X per ton), while the price for Turkey ($X per ton) 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 (+11.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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