Jordan: Non-Electric Industrial Furnace Market 2024

Non-Electric Industrial Furnace Market Size in Jordan

In 2022, after two years of growth, there was significant decline in the Jordanian non-electric industrial furnace market, when its value decreased by -10.5% to $X. Overall, consumption continues to indicate a mild setback. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Non-Electric Industrial Furnace Exports

Exports from Jordan

For the fourth consecutive year, Jordan recorded growth in shipments abroad of non-electric industrial or laboratory furnaces and ovens, which increased by 9.5% to X units in 2022. Over the period under review, exports enjoyed a significant increase. The growth pace was the most rapid in 2017 with an increase of 3,100%. Over the period under review, the exports reached the peak figure at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-electric industrial furnace exports dropped to $X in 2022. In general, exports showed a buoyant expansion. The pace of growth was the most pronounced in 2017 when exports increased by 3,232% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Free Zones (X units) was the main destination for non-electric industrial furnace exports from Jordan, with a 83% share of total exports. Moreover, non-electric industrial furnace exports to Free Zones exceeded the volume sent to the second major destination, the United States (X units), tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Free Zones totaled +25.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+9.1% per year) and the United Arab Emirates (+14.9% per year).

In value terms, Free Zones ($X) emerged as the key foreign market for non-electric industrial or laboratory furnaces and ovens exports from Jordan, comprising 62% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 15% share of total exports. It was followed by the United States, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Free Zones amounted to +15.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+23.0% per year) and the United States (+66.9% per year).

Export Prices by Country

In 2022, the average non-electric industrial furnace export price amounted to $X per unit, shrinking by -22.8% against the previous year. Overall, the export price continues to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2015 an increase of 74% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+27.4%), while the prices for the other major destinations experienced a decline.

Non-Electric Industrial Furnace Imports

Imports into Jordan

In 2022, after two years of growth, there was significant decline in supplies from abroad of non-electric industrial or laboratory furnaces and ovens, when their volume decreased by -16.5% to X units. In general, imports showed a perceptible reduction. The most prominent rate of growth was recorded in 2018 when imports increased by 394%. 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 contracted slightly to $X in 2022. Over the period under review, imports, however, saw a perceptible expansion. The pace of growth was the most pronounced in 2018 with an increase of 287%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Turkey (X units), China (X units) and the UK (X units) were the main suppliers of non-electric industrial furnace imports to Jordan, together comprising 51% of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +43.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), China ($X) and the UK ($X) constituted the largest non-electric industrial furnace suppliers to Jordan, with a combined 45% share of total imports. These countries were followed by the United States, Lebanon, Syrian Arab Republic, the United Arab Emirates and India, which together accounted for a further 29%.

Among the main suppliers, India, with a CAGR of +50.8%, saw the highest growth rate of 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

The average non-electric industrial furnace import price stood at $X per unit in 2022, picking up by 20% against the previous year. Over the period under review, the import price posted a prominent increase. The pace of growth was the most pronounced in 2013 when the average import price increased by 88%. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, the country with the highest price was Lebanon ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic (+16.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform