Venezuela: Non-Electric Air Heater Market 2023

Non-Electric Air Heater Market Size in Venezuela

The Venezuelan non-electric air heater market surged to $X in 2022, increasing by 17% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a deep contraction. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Non-Electric Air Heater Imports

Imports into Venezuela

In 2022, purchases abroad of non-electric air heaters or hot air distributors increased by 1.4% to X units, rising for the second consecutive year after three years of decline. Over the period under review, imports, however, faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when imports increased by 89% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, non-electric air heater imports surged to $X in 2022. In general, imports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2013 when imports increased by 107%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of non-electric air heater to Venezuela, accounting for a 68% share of total imports. Moreover, non-electric air heater imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X units), ninefold. The third position in this ranking was taken by Italy (X units), with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+32.7% per year) and Italy (-11.7% per year).

In value terms, Brazil ($X) constituted the largest supplier of non-electric air heaters or hot air distributors to Venezuela, comprising 77% of total imports. The second position in the ranking was taken by China ($X), with a 12% share of total imports. It was followed by Italy, with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil amounted to +40.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.0% per year) and Italy (-7.7% per year).

Import Prices by Country

The average non-electric air heater import price stood at $X per unit in 2022, with an increase of 22% against the previous year. Over the period under review, import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-electric air heater import price decreased by -17.3% against 2020 indices. The most prominent rate of growth was recorded in 2014 an increase of 38%. Over the period under review, average import prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+22.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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