Dominican Republic: Non-Electric Industrial Furnace Market 2024

Non-Electric Industrial Furnace Exports

Exports from the Dominican Republic

In 2022, overseas shipments of non-electric industrial or laboratory furnaces and ovens increased by 2,365% to X units, rising for the second year in a row after two years of decline. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 35,000% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, non-electric industrial furnace exports skyrocketed to $X in 2022. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 25,611%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

The United States (X units) was the main destination for non-electric industrial furnace exports from the Dominican Republic, with a 98% share of total exports. It was followed by Haiti (X units), with a 1.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +57.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (-12.0% per year) and Mexico (-29.3% per year).

In value terms, the United States ($X) remains the key foreign market for non-electric industrial or laboratory furnaces and ovens exports from the Dominican Republic, comprising 85% of total exports. The second position in the ranking was held by Haiti ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +51.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+24.8% per year) and Mexico (+11.3% per year).

Export Prices by Country

The average non-electric industrial furnace export price stood at $X per unit in 2022, rising by 43% against the previous year. Overall, the export price, however, recorded a pronounced decline. The most prominent rate of growth was recorded in 2017 an increase of 299%. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Haiti ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+55.1%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Industrial Furnace Imports

Imports into the Dominican Republic

In 2022, purchases abroad of non-electric industrial or laboratory furnaces and ovens increased by 95% to X units, rising for the second consecutive year after two years of decline. In general, imports saw a strong expansion. The pace of growth was the most pronounced in 2018 when imports increased by 192%. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, non-electric industrial furnace imports surged to $X in 2022. Overall, imports enjoyed prominent growth. The growth pace was the most rapid in 2018 with an increase of 120% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United States (X units), Argentina (X units) and China (X units) were the main suppliers of non-electric industrial furnace imports to the Dominican Republic, together accounting for 66% of total imports. Costa Rica, the UK, Colombia, Spain, the Netherlands and Brazil lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Costa Rica (with a CAGR of +154.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of non-electric industrial or laboratory furnaces and ovens to the Dominican Republic, comprising 31% of total imports. The second position in the ranking was taken by Colombia ($X), with a 15% share of total imports. It was followed by Spain, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +14.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+109.0% per year) and Spain (+3.2% per year).

Import Prices by Country

In 2022, the average non-electric industrial furnace import price amounted to $X per unit, dropping by -21.2% against the previous year. In general, the import price, however, enjoyed a temperate expansion. The pace of growth was the most pronounced in 2019 when the average import price increased by 78% against the previous year. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Colombia ($X per unit), while the price for Argentina ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Costa Rica (+36.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :