Middle East: Electric Radiator Market 2024

Electric Radiator Market Size in the Middle East

In 2022, the Middle Eastern electric radiator market decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. Overall, consumption, however, showed a moderate expansion. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Electric Radiator Production in the Middle East

In value terms, electric radiator production shrank to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Electric Radiator Exports

Exports in the Middle East

In 2022, overseas shipments of electric radiators and convection heaters increased by X% to X units, rising for the sixth year in a row after three years of decline. In general, exports posted perceptible growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, electric radiator exports soared to $X in 2022. Total exports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Turkey was the main exporting country with an export of about X units, which reached X% of total exports. It was distantly followed by Bahrain (X units), making up a X% share of total exports. The United Arab Emirates (X units) followed a long way behind the leaders.

Turkey experienced a relatively flat trend pattern with regard to volume of exports of electric radiators and convection heaters. At the same time, Bahrain (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. Bahrain (X p.p.) and the United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest electric radiator supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports.

In Turkey, electric radiator exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Bahrain (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2022, with a decrease of X% against the previous year. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the export price increased by X% against the previous year. The level of export peaked at $X per unit in 2018; however, from 2019 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 Turkey ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

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

Electric Radiator Imports

Imports in the Middle East

In 2022, approx. X units of electric radiators and convection heaters were imported in the Middle East; rising by X% on the previous year. In general, imports saw a mild increase. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, electric radiator imports expanded rapidly to $X in 2022. Total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2019 indices. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Iraq (X units) was the largest importer of electric radiators and convection heaters, achieving X% of total imports. Saudi Arabia (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (X%), the United Arab Emirates (X%) and Israel (X%). Turkey (X units) and Iran (X units) took a relatively small share of total imports.

Imports into Iraq increased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, Iran (X%), the United Arab Emirates (X%), Israel (X%) and Turkey (X%) illustrated a downward trend over the same period. While the share of Kuwait (X p.p.), Saudi Arabia (X p.p.) and Iraq (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Iran (X p.p.), the United Arab Emirates (X p.p.), Israel (X p.p.) and Turkey (X p.p.) displayed negative dynamics.

In value terms, Iraq ($X), Saudi Arabia ($X) and Israel ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of total imports. Kuwait, Turkey, the United Arab Emirates and Iran lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Kuwait, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per unit, dropping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. The level of import peaked at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Israel ($X per unit), while Iraq ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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