Bahrain: Non-Electric Industrial Furnace Market 2024

Non-Electric Industrial Furnace Market Size in Bahrain

The Bahraini non-electric industrial furnace market soared to $X in 2022, with an increase of 281% 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 recorded a significant expansion. Non-electric industrial furnace consumption peaked in 2022 and is expected to retain growth in the near future.

Non-Electric Industrial Furnace Exports

Exports from Bahrain

Non-electric industrial furnace exports from Bahrain surged to X units in 2022, picking up by 31% on 2021. Over the period under review, exports showed a significant expansion. The pace of growth was the most pronounced in 2018 when exports increased by 2,367% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, non-electric industrial furnace exports fell modestly to $X in 2022. Overall, exports showed a significant expansion. The growth pace was the most rapid in 2013 when exports increased by 3,181% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for non-electric industrial furnace exports from Bahrain, accounting for a 77% share of total exports. Moreover, non-electric industrial furnace exports to the United Arab Emirates exceeded the volume sent to the second major destination, Saudi Arabia (X units), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates stood at +50.3%.

In value terms, the United Arab Emirates ($X) remains the key foreign market for non-electric industrial or laboratory furnaces and ovens exports from Bahrain, comprising 93% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 7% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates totaled +76.1%.

Export Prices by Country

In 2022, the average non-electric industrial furnace export price amounted to $X per unit, falling by -23.6% against the previous year. In general, the export price, however, continues to indicate a perceptible expansion. The pace of growth was the most pronounced in 2013 when the average export price increased by 730%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Saudi Arabia stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+20.9%), while the prices for the other major destinations experienced a decline.

Non-Electric Industrial Furnace Imports

Imports into Bahrain

Non-electric industrial furnace imports into Bahrain soared to X units in 2022, rising by 294% compared with the previous year. Over the period under review, imports posted a significant increase. The pace of growth was the most pronounced in 2020 when imports increased by 710% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, non-electric industrial furnace imports surged to $X in 2022. Overall, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 605% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Switzerland (X units) was the main supplier of non-electric industrial furnace to Bahrain, with a 99% share of total imports. It was followed by Italy (X units), with a 0.5% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Switzerland totaled +346.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+7.2% per year) and Belgium (+1.3% per year).

In value terms, Switzerland ($X) constituted the largest supplier of non-electric industrial or laboratory furnaces and ovens to Bahrain, comprising 96% of total imports. The second position in the ranking was taken by Italy ($X), with a 1.6% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Switzerland totaled +218.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+4.2% per year) and Belgium (-25.6% per year).

Import Prices by Country

In 2022, the average non-electric industrial furnace import price amounted to $X per unit, which is down by -46.3% against the previous year. Overall, the import price faced a dramatic slump. The growth pace was the most rapid in 2016 an increase of 159%. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per unit), while the price for Belgium ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (-3.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform