Dominican Republic: Thermostat Market 2025

Thermostat Market Size in the Dominican Republic

The Dominican thermostat market expanded significantly to $X in 2021, rising by 6.2% 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, consumption posted a prominent increase. Thermostat consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Thermostat Exports

Exports from the Dominican Republic

After two years of decline, shipments abroad of thermostats increased by 651% to X units in 2021. Overall, exports saw a resilient increase. The pace of growth appeared the most rapid in 2017 with an increase of 1,094%. Over the period under review, the exports attained the peak figure at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, thermostat exports surged to $X in 2021. Over the period under review, exports showed buoyant growth. The growth pace was the most rapid in 2017 with an increase of 1,446%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X units), China (X units) and the United States (X units) were the main destinations of thermostat exports from the Dominican Republic, with a combined 95% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +114.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and the United States ($X) were the largest markets for thermostat exported from the Dominican Republic worldwide, together accounting for 84% of total exports.

Germany, with a CAGR of +106.5%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average thermostat export price stood at $X per unit in 2021, growing by 22% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt shrinkage. The growth pace was the most rapid in 2014 when the average export price increased by 50% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Egypt ($X per unit), while the average price for exports to China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+1.8%), while the prices for the other major destinations experienced mixed trend patterns.

Thermostat Imports

Imports into the Dominican Republic

In 2021, imports of thermostats into the Dominican Republic amounted to X units, with an increase of 3.1% against the previous year's figure. Overall, imports showed strong growth. The pace of growth was the most pronounced in 2019 with an increase of 115%. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, thermostat imports soared to $X in 2021. Over the period under review, imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of 56%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest thermostat supplier to the Dominican Republic, accounting for a 75% share of total imports. Moreover, thermostat imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. The third position in this ranking was held by Japan (X units), with a 3.6% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.0% per year) and Japan (+21.3% per year).

In value terms, the largest thermostat suppliers to the Dominican Republic were China ($X), the United States ($X) and Australia ($X), with a combined 63% share of total imports. Mexico, Japan, Austria and Italy lagged somewhat behind, together comprising a further 15%.

Among the main suppliers, Austria, with a CAGR of +102.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average thermostat import price amounted to $X per unit, growing by 14% against the previous year. Over the period under review, the import price, however, showed a abrupt downturn. The growth pace was the most rapid in 2018 an increase of 26%. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Australia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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