Puerto Rico: Electric Radiator Market 2024

Electric Radiator Market Size in Puerto Rico

In 2021, after three years of decline, there was significant growth in the Puerto Rican electric radiator market, when its value increased by 12% to $X. Over the period under review, consumption, however, showed a perceptible slump. Puerto Rico consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Electric Radiator Production in Puerto Rico

In value terms, electric radiator production rose significantly to $X in 2021 estimated in export price. Overall, production, however, saw a pronounced contraction. The pace of growth appeared the most rapid in 2017 when the production volume increased by 46%. Puerto Rico production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Electric Radiator Exports

Exports from Puerto Rico

In 2021, approx. less than X units of electric radiators and convection heaters were exported from Puerto Rico; standing approx. at the previous year. In general, exports saw a relatively flat trend pattern.

In value terms, electric radiator exports stood at less than $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern.

Exports by Country

China dominates exports structure, finishing at X units, which was approx. 69% of total exports in 2021. Kyrgyzstan (X units) took a 7.8% share (based on physical terms) of total exports, which put it in second place, followed by Germany (5.1%). Malaysia (X units), the Netherlands (X units) and Turkey (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to electric radiator exports from China stood at +5.3%. At the same time, Kyrgyzstan (+225.2%), the Netherlands (+12.4%), Malaysia (+8.6%) and Germany (+2.4%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing exporter exported in the world, with a CAGR of +225.2% from 2012-2021. By contrast, Turkey (-3.7%) illustrated a downward trend over the same period. While the share of Kyrgyzstan (+7.8 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of Germany (-1.8 p.p.), Turkey (-1.9 p.p.) and China (-3.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest electric radiator supplier from Puerto Rico, comprising 60% of global exports. The second position in the ranking was held by Germany ($X), with a 6% share of global exports. It was followed by Malaysia, with a 4.1% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +7.2%. In the other countries, the average annual rates were as follows: Germany (-0.3% per year) and Malaysia (+15.3% per year).

Export Prices by Country

The export price in Puerto Rico stood at less than $X per thousand units in 2021, almost unchanged from the previous year. In general, the export price showed a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per thousand units), while Kyrgyzstan ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.6%), while the other leaders experienced more modest paces of growth.

Electric Radiator Imports

Imports into Puerto Rico

Electric radiator imports into Puerto Rico totaled less than X units in 2021, approximately equating the previous year. In general, imports saw a relatively flat trend pattern.

In value terms, electric radiator imports amounted to less than $X in 2021. Over the period under review, imports saw a relatively flat trend pattern.

Imports by Country

The United States represented the main importer of electric radiators and convection heaters in the world, with the volume of imports reaching X units, which was approx. 33% of total imports in 2021. Thailand (X units) ranks second in terms of the total imports with a 6.5% share, followed by the UK (4.7%). Germany (X units), Russia (X units), France (X units), Kazakhstan (X units), the Netherlands (X units), Spain (X units), Japan (X units), Italy (X units), Belgium (X units) and South Korea (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to electric radiator imports into the United States stood at +10.0%. At the same time, Kazakhstan (+30.0%), the Netherlands (+12.3%), South Korea (+12.2%), Thailand (+11.5%), Russia (+10.7%), Spain (+9.3%), Belgium (+8.6%), the UK (+4.7%), France (+3.6%), Germany (+2.3%) and Italy (+1.1%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing importer imported in the world, with a CAGR of +30.0% from 2012-2021. By contrast, Japan (-2.4%) illustrated a downward trend over the same period. While the share of the United States (+8.3 p.p.), Kazakhstan (+2.9 p.p.) and Thailand (+2.2 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Germany (-2 p.p.) and Japan (-3.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported electric radiators and convection heaters into Puerto Rico, comprising 18% of global imports. The second position in the ranking was taken by Japan ($X), with a 7.9% share of global imports. It was followed by Germany, with a 7.2% share.

In the United States, electric radiator imports increased at an average annual rate of +1.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+3.1% per year) and Germany (+5.4% per year).

Import Prices by Country

In 2021, the import price in Puerto Rico amounted to less than $X per thousand units, remaining constant against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per thousand units), while Kazakhstan ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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