Iceland: Home Appliance Market 2020

Home Appliance Market Size in Iceland

The revenue of the home appliance market in Iceland amounted to $X in 2018, dropping 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, home appliance consumption continues to indicate an abrupt contraction. The pace of growth appeared the most rapid in 2012 with an increase of X% against the previous year. Iceland home appliance consumption peaked at $X in 2017, and then declined slightly in the following year.

Home Appliance Exports

Exports from Iceland

In 2018, approx. X kg of domestic, non-electric, cooking or heating appliances were exported from Iceland; shrinking by -X% against the previous year. In general, home appliance exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by X% y-o-y. Iceland exports peaked at X tons in 2016; however, from 2017 to 2018, exports failed to regain their momentum.

In value terms, home appliance exports amounted to $X in 2018. Overall, home appliance exports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2016 with an increase of X% year-to-year. Iceland exports peaked at $X in 2007; however, from 2008 to 2018, exports stood at a somewhat lower figure.

Exports by Country

China dominates home appliance exports structure, resulting at X tons, which was approx. X% of total exports in 2018. Turkey (X tons) held a X% share (based on tons) of total exports, which put it in second place, followed by Mexico (X%) and the U.S. (X%). Italy (X tons), Belarus (X tons), Germany (X tons) and Ecuador (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +X% from 2007 to 2018. At the same time, Mexico (+X%) and Turkey (+X%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. The U.S., Belarus and Germany experienced a relatively flat trend pattern. By contrast, Ecuador (-X%) and Italy (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of China, Mexico and Turkey increased by +X%, +X% and +X% percentage points, while Italy (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest home appliance supplier from Iceland, comprising X% of global exports. The second position in the ranking was occupied by Mexico ($X), with a X% share of global exports. It was followed by Italy, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in China stood at +X%. In the other countries, the average annual rates were as follows: Mexico (+X% per year) and Italy (-X% per year).

Export Prices by Country

The home appliance export price in Iceland stood at $X per ton in 2018, growing by X% against the previous year. Over the period under review, the home appliance export price, however, continues to indicate a drastic shrinkage. The growth pace was the most rapid in 2016 when the export price increased by X% y-o-y. Iceland export price peaked at $X per ton in 2007; however, from 2008 to 2018, export prices failed to regain their momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Italy ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

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

Home Appliance Imports

Imports into Iceland

In 2018, the home appliance imports into Iceland stood at X tons, lowering by -X% against the previous year. Over the period under review, home appliance imports continue to indicate an abrupt slump. The growth pace was the most rapid in 2015 with an increase of X% year-to-year. Over the period under review, home appliance imports reached their maximum at X tons in 2008; however, from 2009 to 2018, imports remained at a lower figure.

In value terms, home appliance imports totaled $X in 2018. Over the period under review, home appliance imports continue to indicate an abrupt decline. The pace of growth appeared the most rapid in 2012 when imports increased by X% year-to-year. Over the period under review, home appliance imports attained their peak figure at $X in 2017, and then declined slightly in the following year.

Imports by Country

The U.S. represented the main importer of domestic, non-electric, cooking or heating appliances in the world, with the volume of imports recording X tons, which was approx. X% of total imports in 2018. It was distantly followed by Germany (X tons), achieving a X% share of total imports. The UK (X tons), France (X tons), Canada (X tons), the Netherlands (X tons), Russia (X tons), Algeria (X tons), Australia (X tons) and Saudi Arabia (X tons) held a little share of total imports.

The U.S. experienced a relatively flat trend pattern of domestic, non-electric, cooking or heating appliances imports. At the same time, Algeria (+X%), Germany (+X%), the Netherlands (+X%) and Saudi Arabia (+X%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. France, the UK and Russia experienced a relatively flat trend pattern. By contrast, Canada (-X%) and Australia (-X%) illustrated a downward trend over the same period. While the share of Germany (+X p.p.) and Algeria (+X p.p.) increased significantly in terms of the global imports from 2007-2018, the share of Australia (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) constitutes the largest market for imported domestic, non-electric, cooking or heating appliances into Iceland, comprising X% of global imports. The second position in the ranking was occupied by Germany ($X), with a X% share of global imports. It was followed by Canada, with a X% share.

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

Import Prices by Country

The home appliance import price in Iceland stood at $X per ton in 2018, waning by -X% against the previous year. Over the period under review, the home appliance import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2012 an increase of X% against the previous year. Over the period under review, the import prices for domestic, non-electric, cooking or heating appliances reached their peak figure at $X per ton in 2017, and then declined slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Canada ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform