Cyprus: Electric Heating Equipment Market 2020

Electric Heating Equipment Market Size in Cyprus

The revenue of the electric heating equipment market in Cyprus amounted to $X in 2018, coming down by -X% 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). In general, electric heating equipment consumption, however, continues to indicate a drastic drop. The pace of growth was the most pronounced in 2015 when the market value increased by X% y-o-y. Cyprus electric heating equipment consumption peaked at $X in 2008; however, from 2009 to 2018, consumption remained at a lower figure.

Electric Heating Equipment Exports

Exports from Cyprus

In 2018, the electric heating equipment exports from Cyprus totaled X units, coming down by -X% against the previous year. Overall, electric heating equipment exports continue to indicate a drastic curtailment. The most prominent rate of growth was recorded in 2011 when exports increased by X% y-o-y. Cyprus exports peaked at X units in 2014; however, from 2015 to 2018, exports remained at a lower figure.

In value terms, electric heating equipment exports stood at $X in 2018. In general, electric heating equipment exports continue to indicate a dramatic contraction. The growth pace was the most rapid in 2010 when exports increased by X% year-to-year. Over the period under review, electric heating equipment exports attained their maximum at $X in 2014; however, from 2015 to 2018, exports failed to regain their momentum.

Exports by Country

Kyrgyzstan (X units) and China (X units) prevails in electric heating equipment exports structure, together mixing up X% of total exports. It was distantly followed by Malaysia (X units), comprising a X% share of total exports. Russia (X units), Germany (X units) and Japan (X units) took a little share of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Kyrgyzstan (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest electric heating equipment supplier from Cyprus, comprising X% of global exports. The second position in the ranking was occupied by Germany ($X), with a X% share of global exports. It was followed by Malaysia, with a X% share.

From 2007 to 2018, the average annual growth rate of value in China totaled +X%. In the other countries, the average annual rates were as follows: Germany (+X% per year) and Malaysia (+X% per year).

Export Prices by Country

The electric heating equipment export price in Cyprus stood at $X per unit in 2018, shrinking by -X% against the previous year. Over the period under review, the electric heating equipment export price continues to indicate a precipitous drop. The growth pace was the most rapid in 2010 an increase of X% y-o-y. In that year, the export prices for electric space heating apparatus and soil heating apparatus reached their peak level of $X per unit. From 2011 to 2018, the growth in terms of the export prices for electric space heating apparatus and soil heating apparatus remained at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Germany ($X per unit), while Kyrgyzstan ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Electric Heating Equipment Imports

Imports into Cyprus

In 2018, the amount of electric space heating apparatus and soil heating apparatus imported into Cyprus totaled X units, flattening at the previous year. In general, electric heating equipment imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. Cyprus imports peaked at X units in 2008; however, from 2009 to 2018, imports remained at a lower figure.

In value terms, electric heating equipment imports totaled $X in 2018. Overall, electric heating equipment imports, however, continue to indicate an abrupt downturn. The pace of growth appeared the most rapid in 2017 when imports increased by X% y-o-y. Cyprus imports peaked at $X in 2008; however, from 2009 to 2018, imports stood at a somewhat lower figure.

Imports by Country

Kazakhstan was the major importing country with an import of around X units, which reached X% of total imports. The U.S. (X units) occupied a X% share (based on tons) of total imports, which put it in second place, followed by the UK (X%), Russia (X%) and Japan (X%). France (X units), Italy (X units), Germany (X units), the Netherlands (X units), Spain (X units) and Vietnam (X units) took a little share of total imports.

Kazakhstan was also the fastest-growing in terms of the electric space heating apparatus and soil heating apparatus imports, with a CAGR of +X% from 2007 to 2018. At the same time, Vietnam (+X%), France (+X%), the UK (+X%), the Netherlands (+X%), Germany (+X%), Russia (+X%), Japan (+X%) and Italy (+X%) displayed positive paces of growth. By contrast, Spain (-X%) and the U.S. (-X%) illustrated a downward trend over the same period. While the share of Kazakhstan (+X p.p.), the UK (+X p.p.) and Vietnam (+X p.p.) increased significantly in terms of the global imports from 2007-2018, the share of the U.S. (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) constitutes the largest market for imported electric space heating apparatus and soil heating apparatus into Cyprus, comprising X% of global imports. The second position in the ranking was occupied by Japan ($X), with a X% share of global imports. It was followed by France, with a X% share.

From 2007 to 2018, the average annual growth rate of value in the U.S. stood at +X%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+X% per year) and France (+X% per year).

Import Prices by Country

The electric heating equipment import price in Cyprus stood at $X per unit in 2018, shrinking by -X% against the previous year. Over the period under review, the electric heating equipment import price continues to indicate a drastic decline. The pace of growth was the most pronounced in 2013 an increase of X% y-o-y. Cyprus import price peaked at $X per unit in 2010; however, from 2011 to 2018, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Germany ($X per unit), while Kazakhstan ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the U.S., while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform