Middle East: Thermostat Market 2024

Thermostat Market Size in the Middle East

The Middle Eastern thermostat market reduced to $X in 2022, shrinking by X% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Thermostat Production in the Middle East

In value terms, thermostat production fell to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a slight increase. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

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Thermostat Exports

Exports in the Middle East

In 2022, overseas shipments of thermostats increased by X% to X units, rising for the second year in a row after three years of decline. Total exports indicated a prominent increase from 2012 to 2022: its volume 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 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, thermostat exports soared to $X in 2022. Total exports indicated a strong expansion 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 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

Exports by Country

In 2022, Turkey (X units) represented the major exporter of thermostats, mixing up X% of total exports. It was distantly followed by Israel (X units), comprising a X% share of total exports. The United Arab Emirates (X units) took a little share of total exports.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) and Israel (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. Turkey (X p.p.) and the United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while Israel saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Israel ($X), Turkey ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Among the main exporting countries, the United Arab Emirates, with a CAGR of X%, 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 more modest paces of growth.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per unit, remaining stable against the previous year. Over the period under review, the export price recorded a pronounced decrease. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Turkey ($X per unit) 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 (X%), while the other leaders experienced a decline in the export price figures.

Thermostat Imports

Imports in the Middle East

In 2022, after two years of growth, there was significant decline in purchases abroad of thermostats, when their volume decreased by X% to X units. Total imports indicated a temperate increase from 2012 to 2022: its volume 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. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. The volume of import peaked at X units in 2021, and then contracted rapidly in the following year.

In value terms, thermostat imports stood at $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

Turkey was the main importing country with an import of about X units, which recorded X% of total imports. It was distantly followed by the United Arab Emirates (X units), generating a X% share of total imports. Iraq (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to thermostat imports into Turkey stood at X%. At the same time, the United Arab Emirates (X%) and Iraq (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. 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 Turkey (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported thermostats in the Middle East, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey amounted to X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Iraq (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per unit in 2022, growing by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The level of import peaked 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 the United Arab Emirates ($X per unit), while Turkey ($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 import price figures.

Source: IndexBox Platform

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