Middle East: Market for Iron Or Steel Solid Fuel Domestic Appliances 2024

Market Size for Iron Or Steel Solid Fuel Domestic Appliances in the Middle East

The Middle Eastern metal solid fuel appliances market contracted to $X in 2022, falling by -10.1% against the previous year. Overall, consumption recorded a pronounced descent. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Iron Or Steel Solid Fuel Domestic Appliances in the Middle East

In value terms, metal solid fuel appliances production fell to $X in 2022 estimated in export price. In general, production recorded a slight decrease. The most prominent rate of growth was recorded in 2018 with an increase of 28%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Iron Or Steel Solid Fuel Domestic Appliances

Exports in the Middle East

In 2022, approx. X units of iron or steel solid fuel domestic appliances were exported in the Middle East; jumping by 59% compared with the year before. In general, exports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2017 when exports increased by 214% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, metal solid fuel appliances exports soared to $X in 2022. Over the period under review, exports saw a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X units) represented roughly 98% of total exports in 2022.

Turkey was also the fastest-growing in terms of the iron or steel solid fuel domestic appliances exports, with a CAGR of +11.3% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) also remains the largest metal solid fuel appliances supplier in the Middle East.

In Turkey, metal solid fuel appliances exports expanded at an average annual rate of +6.4% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per unit, rising by 19% against the previous year. Overall, the export price, however, saw a pronounced slump. The most prominent rate of growth was recorded in 2019 an increase of 43%. Over the period under review, the export prices reached the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2012 to 2022, the rate of growth in terms of prices for Turkey amounted to -4.4% per year.

Imports of Iron Or Steel Solid Fuel Domestic Appliances

Imports in the Middle East

In 2022, metal solid fuel appliances imports in the Middle East surged to X units, picking up by 16% compared with the previous year's figure. In general, imports showed buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 58% against the previous year. Over the period under review, imports reached the peak figure at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, metal solid fuel appliances imports declined dramatically to $X in 2022. Total imports indicated a noticeable 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 +21.7% against 2018 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 78% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Iran (X units), distantly followed by Syrian Arab Republic (X units), Israel (X units), Kuwait (X units) and the United Arab Emirates (X units) were the main importers of iron or steel solid fuel domestic appliances, together constituting 83% of total imports. The following importers - Lebanon (X units) and Iraq (X units) - each accounted for an 8.1% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Israel (with a CAGR of +19.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest metal solid fuel appliances importing markets in the Middle East were Israel ($X), the United Arab Emirates ($X) and Lebanon ($X), with a combined 56% share of total imports. Iran, Kuwait, Syrian Arab Republic and Iraq lagged somewhat behind, together accounting for a further 22%.

Iraq, with a CAGR of +18.7%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the Middle East stood at $X per unit in 2022, waning by -26.6% against the previous year. In general, the import price showed a abrupt decrease. The growth pace was the most rapid in 2021 an increase of 59% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iraq (+2.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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