Cyprus: Electric Water Heater Market 2020

Electric Water Heater Market Size in Cyprus

The revenue of the electric water heater market in Cyprus amounted to $X in 2018, going 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, the total market indicated a mild increase from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the market value increased by X% against the previous year. Cyprus electric water heater consumption peaked at $X in 2017, and then declined slightly in the following year.

Electric Water Heater Exports

Exports from Cyprus

In 2018, approx. X units of electric water heaters and immersion heaters were exported from Cyprus; reducing by -X% against the previous year. Overall, electric water heater exports continue to indicate a drastic slump. The growth pace was the most rapid in 2013 when exports increased by X% year-to-year. In that year, electric water heater exports reached their peak of X units. From 2014 to 2018, the growth of electric water heater exports remained at a somewhat lower figure.

In value terms, electric water heater exports amounted to $X in 2018. Overall, electric water heater exports continue to indicate a mild slump. The pace of growth was the most pronounced in 2012 with an increase of X% against the previous year. Over the period under review, electric water heater exports attained their peak figure at $X in 2013; however, from 2014 to 2018, exports failed to regain their momentum.

Exports by Country

In 2018, Italy (X units), China (X units), Mexico (X units), Germany (X units), Brazil (X units), the Netherlands (X units), the U.S. (X units), Belgium (X units), Malaysia (X units), the Czech Republic (X units), Bulgaria (X units) and Poland (X units) represented the key exporters of electric water heaters and immersion heaters in the world, creating X% of total export.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Bulgaria, while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Mexico ($X) and Italy ($X) constituted the countries with the highest levels of exports in 2018, with a combined X% share of total exports. These countries were followed by the U.S., Germany, Belgium, Malaysia, the Netherlands, Bulgaria, the Czech Republic, Brazil, Poland and Cyprus, which together accounted for a further X experienced the highest rates of growth with regard to exports, in terms of the main exporting countries over the last eleven years, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The electric water heater export price in Cyprus stood at $X per unit in 2018, going down by -X% against the previous year. Over the period under review, the electric water heater export price, however, continues to indicate prominent growth. The most prominent rate of growth was recorded in 2012 an increase of X% year-to-year. In that year, the export prices for electric water heaters and immersion heaters attained their peak level of $X per unit. From 2013 to 2018, the growth in terms of the export prices for electric water heaters and immersion heaters remained at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was China ($X per unit), while Brazil ($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 a decline in the export price figures.

Electric Water Heater Imports

Imports into Cyprus

Electric water heater imports into Cyprus stood at X units in 2018, declining by -X% against the previous year. Overall, the total imports indicated a modest increase from 2007 to 2018: its volume increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, electric water heater imports increased by +X% against 2013 indices. The pace of growth was the most pronounced in 2014 when imports increased by X% y-o-y. Over the period under review, electric water heater imports attained their maximum at X units in 2017, and then declined slightly in the following year.

In value terms, electric water heater imports totaled $X in 2018. Overall, the total imports indicated modest growth from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, electric water heater imports decreased by -X% against 2016 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Cyprus imports peaked at $X in 2016; however, from 2017 to 2018, imports stood at a somewhat lower figure.

Imports by Country

The U.S. (X units) and the UK (X units) represented roughly X% of total imports of electric water heaters and immersion heaters in 2018. Russia (X units) occupied the next position in the ranking, followed by Germany (X units). All these countries together took near X% share of total imports. France (X units), Poland (X units), the United Arab Emirates (X units), Italy (X units), Spain (X units), Ukraine (X units), Belgium (X units) and Canada (X units) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Ukraine, while the other leaders experienced more modest paces of growth.

In value terms, the U.S. ($X) constitutes the largest market for imported electric water heaters and immersion heaters into Cyprus, comprising X% of global imports. The second position in the ranking was occupied by Germany ($X), with a X% share of global imports. It was followed by the UK, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in the U.S. amounted to +X%. In the other countries, the average annual rates were as follows: Germany (+X% per year) and the UK (+X% per year).

Import Prices by Country

The electric water heater import price in Cyprus stood at $X per unit in 2018, growing by X% against the previous year. Over the period under review, the electric water heater import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2008 when the import price increased by X% year-to-year. In that year, the import prices for electric water heaters and immersion heaters reached their peak level of $X per unit. From 2009 to 2018, the growth in terms of the import prices for electric water heaters and immersion heaters remained at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Canada ($X per unit), while the UK ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform