GCC: Electric Heating Equipment Market 2025

Electric Heating Equipment Market Size in GCC

The GCC electric heating equipment market fell to $X in 2022, waning by -9.3% against the previous year. Overall, consumption, however, saw prominent growth. The level of consumption peaked at $X in 2021, and then reduced in the following year.

Electric Heating Equipment Production in GCC

In value terms, electric heating equipment production surged to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a strong increase. The growth pace was the most rapid in 2015 with an increase of 75% against the previous year. Over the period under review, production attained the maximum level in 2022 and is expected to retain growth in years to come.

Electric Heating Equipment Exports

Exports in GCC

In 2022, approx. X units of electric space heating apparatus and soil heating apparatus were exported in GCC; growing by 1,693% against the year before. In general, exports continue to indicate significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, electric heating equipment exports soared to $X in 2022. Overall, exports showed a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of 206% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Bahrain prevails in exports structure, resulting at X units, which was near 90% of total exports in 2022. It was distantly followed by Saudi Arabia (X units) and the United Arab Emirates (X units), together mixing up a 9.4% share of total exports.

Bahrain was also the fastest-growing in terms of the electric space heating apparatus and soil heating apparatus exports, with a CAGR of +88.5% from 2012 to 2022. At the same time, the United Arab Emirates (+11.6%) displayed positive paces of growth. By contrast, Saudi Arabia (-7.8%) illustrated a downward trend over the same period. While the share of Bahrain (+82 p.p.) and Saudi Arabia (+4.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (-73.7 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) remains the largest electric heating equipment supplier in GCC, comprising 50% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Saudi Arabia amounted to +13.7%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+1.5% per year) and Bahrain (+15.9% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, waning by -92.9% against the previous year. Over the period under review, the export price recorded a precipitous curtailment. The growth pace was the most rapid in 2019 when the export price increased by 113%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+31.8%), while the other leaders experienced a decline in the export price figures.

Electric Heating Equipment Imports

Imports in GCC

After two years of growth, purchases abroad of electric space heating apparatus and soil heating apparatus decreased by -10.4% to X units in 2022. In general, imports, however, enjoyed a temperate increase. The growth pace was the most rapid in 2020 when imports increased by 95% against the previous year. Over the period under review, imports attained the maximum at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, electric heating equipment imports fell to $X in 2022. Total imports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 43%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Saudi Arabia was the main importer of electric space heating apparatus and soil heating apparatus in GCC, with the volume of imports recording X units, which was near 54% of total imports in 2022. The United Arab Emirates (X units) held the second position in the ranking, distantly followed by Kuwait (X units). All these countries together took near 42% share of total imports. The following importers - Qatar (X units) and Oman (X units) - each amounted to a 3.5% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Saudi Arabia (with a CAGR of +8.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest electric heating equipment importing markets in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X), with a combined 93% share of total imports.

Kuwait, with a CAGR of +10.3%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, surging by 3% against the previous year. Overall, the import price, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2019 an increase of 12%. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Oman ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+5.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform