Cyprus: Microwave Oven Market 2020

Microwave Oven Market Size in Cyprus

The revenue of the microwave oven market in Cyprus amounted to $X in 2018, waning 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). Overall, microwave oven consumption continues to indicate a drastic decrease. The most prominent rate of growth was recorded in 2017 when the market value increased by X% against the previous year. Cyprus microwave oven consumption peaked at $X in 2008; however, from 2009 to 2018, consumption remained at a lower figure.

Microwave Oven Exports

Exports from Cyprus

In 2018, approx. X units of microwave ovens were exported from Cyprus; growing by X% against the previous year. In general, microwave oven exports continue to indicate prominent growth. The pace of growth was the most pronounced in 2013 with an increase of X% y-o-y. Over the period under review, microwave oven exports attained their maximum at X units in 2015; however, from 2016 to 2018, exports remained at a lower figure.

In value terms, microwave oven exports stood at $X in 2018. Overall, microwave oven exports continue to indicate a remarkable expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X% year-to-year. Over the period under review, microwave oven exports attained their peak figure at $X in 2016; however, from 2017 to 2018, exports stood at a somewhat lower figure.

Exports by Country

China was the key exporting country with an export of about X units, which reached X% of total exports. Malaysia (X units) took an X% share (based on tons) of total exports, which put it in second place, followed by Thailand (X%). The following exporters - Germany (X units), Belarus (X units) and the UK (X units) - each resulted at a X% share of total exports.

China experienced a relatively flat trend pattern of microwave ovens exports. At the same time, Belarus (+X%) and Malaysia (+X%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. By contrast, Thailand (-X%), Germany (-X%) and the UK (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of China and Malaysia increased by +X% and +X% percentage points, while Germany (-X p.p.) and Thailand (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, microwave oven exports increased at an average annual rate of +X% over the period from 2007-2018. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+X% per year) and Thailand (-X% per year).

Export Prices by Country

The microwave oven export price in Cyprus stood at $X per unit in 2018, coming down by -X% against the previous year. In general, the microwave oven export price continues to indicate a drastic slump. The most prominent rate of growth was recorded in 2016 when the export price increased by X% against the previous year. In that year, the export prices for microwave ovens attained their peak level of $X per unit. From 2017 to 2018, the growth in terms of the export prices for microwave ovens remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was the UK ($X per unit), while Belarus ($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.

Microwave Oven Imports

Imports into Cyprus

In 2018, the microwave oven imports into Cyprus totaled X units, reducing by -X% against the previous year. Over the period under review, microwave oven imports continue to indicate a deep deduction. The most prominent rate of growth was recorded in 2017 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, microwave oven imports totaled $X in 2018. Over the period under review, microwave oven imports continue to indicate an abrupt curtailment. The pace of growth was the most pronounced in 2017 when imports increased by X% year-to-year. Cyprus imports peaked at $X in 2008; however, from 2009 to 2018, imports remained at a lower figure.

Imports by Country

The U.S. represented the key importer of microwave ovens in the world, with the volume of imports resulting at X units, which was near X% of total imports in 2018. Japan (X units) occupied an X% share (based on tons) of total imports, which put it in second place, followed by the UK (X%) and Russia (X%). The following importers - Mexico (X units), France (X units), Brazil (X units), Germany (X units), Canada (X units), Spain (X units), South Korea (X units) and Australia (X units) - together made up X% of total imports.

From 2007 to 2018, average annual rates of growth with regard to microwave oven imports into the U.S. stood at +X%. At the same time, South Korea (+X%), Brazil (+X%), Russia (+X%), Mexico (+X%), Japan (+X%) and Australia (+X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. Canada and France experienced a relatively flat trend pattern. By contrast, the UK (-X%), Spain (-X%) and Germany (-X%) illustrated a downward trend over the same period. Japan (+X p.p.), the U.S. (+X p.p.), Russia (+X p.p.) and South Korea (+X p.p.) significantly strengthened its position in terms of the global imports, while the UK, Spain and Germany saw its share reduced by -X%, -X% and -X% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In the U.S., microwave oven imports increased at an average annual rate of +X% over the period from 2007-2018. In the other countries, the average annual rates were as follows: Japan (+X% per year) and the UK (-X% per year).

Import Prices by Country

The microwave oven import price in Cyprus stood at $X per unit in 2018, growing by X% against the previous year. In general, the microwave oven import price, however, continues to indicate a mild decline. The growth pace was the most rapid in 2011 an increase of X% y-o-y. In that year, the import prices for microwave ovens attained their peak level of $X per unit. From 2012 to 2018, the growth in terms of the import prices for microwave ovens remained 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 the U.S. ($X per unit), while Mexico ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform