Saudi Arabia: Electric Water Heater Market 2024

Electric Water Heater Market Size in Saudi Arabia

The Saudi electric water heater market dropped modestly to $X in 2022, almost unchanged from the previous year. Overall, consumption enjoyed a buoyant increase. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Electric Water Heater Production in Saudi Arabia

In value terms, electric water heater production reduced modestly to $X in 2022 estimated in export price. In general, production, however, posted a strong increase. The pace of growth was the most pronounced in 2015 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Electric Water Heater Exports

Exports from Saudi Arabia

In 2022, approx. X units of electric water heaters and immersion heaters were exported from Saudi Arabia; flattening at 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, the exports reached the maximum at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, electric water heater exports declined to $X in 2022. In general, exports, however, continue to indicate a pronounced slump. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units) was the main destination for electric water heater exports from Saudi Arabia, with a X% share of total exports. Moreover, electric water heater exports to the United Arab Emirates exceeded the volume sent to the second major destination, Bahrain (X units), threefold. Jordan (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (X% per year) and Jordan (X% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for electric water heaters and immersion heaters exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was held by Jordan ($X), with a X% share of total exports. It was followed by Bahrain, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (X% per year) and Bahrain (X% per year).

Export Prices by Country

In 2022, the average electric water heater export price amounted to $X per unit, which is down by X% against the previous year. Overall, the export price showed a noticeable contraction. The pace of growth was the most pronounced in 2015 when the average export price increased by X%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Egypt ($X per unit) and Jordan ($X per unit), while the average price for exports to Bahrain ($X per unit) and Spain ($X per unit) were amongst the lowest.

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

Electric Water Heater Imports

Imports into Saudi Arabia

In 2022, supplies from abroad of electric water heaters and immersion heaters increased by X% to X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports attained the maximum at X units in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, electric water heater imports reduced modestly to $X in 2022. In general, total imports indicated a measured 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, imports increased by X% against 2018 indices. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Italy (X units), the United Arab Emirates (X units) and China (X units) were the main suppliers of electric water heater imports to Saudi Arabia, together comprising X% of total imports. Bahrain, Mexico, the United States and Turkey lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Italy ($X) and Mexico ($X) appeared to be the largest electric water heater suppliers to Saudi Arabia, together accounting for X% of total imports.

Among the main suppliers, Mexico, 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

The average electric water heater import price stood at $X per unit in 2022, reducing by X% against the previous year. Overall, the import price, however, saw a resilient expansion. The pace of growth was the most pronounced in 2020 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2021, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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