Angola: Thermostat Market 2024

Thermostat Market Size in Angola

The Angolan thermostat market skyrocketed to $X in 2021, surging by 213% 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). Overall, consumption posted a significant increase. Thermostat consumption peaked in 2021 and is expected to retain growth in years to come.

Thermostat Exports

Exports from Angola

In 2021, approx. X units of thermostats were exported from Angola; with an increase of 133% compared with the previous year. Overall, exports, however, continue to indicate a sharp contraction. The pace of growth was the most pronounced in 2017 with an increase of 180% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, thermostat exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2017 with an increase of 311% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

South Africa (X units) was the main destination for thermostat exports from Angola, accounting for a 68% share of total exports. Moreover, thermostat exports to South Africa exceeded the volume sent to the second major destination, Portugal (X units), fourfold. The third position in this ranking was taken by Belgium (X units), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to South Africa stood at -22.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (-36.8% per year) and Belgium (+1.7% per year).

In value terms, the UK ($X), Belgium ($X) and South Africa ($X) constituted the largest markets for thermostat exported from Angola worldwide, together comprising 15% of total exports.

Belgium, with a CAGR of +62.9%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average thermostat export price amounted to $X per unit, shrinking by -24.4% against the previous year. In general, the export price, however, showed a strong increase. The pace of growth appeared the most rapid in 2014 when the average export price increased by 67%. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to South Africa ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+61.0%), while the prices for the other major destinations experienced mixed trend patterns.

Thermostat Imports

Imports into Angola

In 2021, imports of thermostats into Angola skyrocketed to X units, growing by 261% against 2020 figures. In general, imports showed a significant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 416% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, thermostat imports surged to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 107% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of thermostat to Angola, with a 70% share of total imports. Moreover, thermostat imports from China exceeded the figures recorded by the second-largest supplier, Portugal (X units), sixfold. South Africa (X units) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +82.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+13.7% per year) and South Africa (+16.5% per year).

In value terms, Portugal ($X) constituted the largest supplier of thermostats to Angola, comprising 34% of total imports. The second position in the ranking was held by South Africa ($X), with a 12% share of total imports. It was followed by China, with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Portugal totaled +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+7.2% per year) and China (+23.9% per year).

Import Prices by Country

The average thermostat import price stood at $X per unit in 2021, dropping by -47.3% against the previous year. In general, the import price recorded a sharp slump. The pace of growth appeared the most rapid in 2016 an increase of 139% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Belgium ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+109.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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