Kuwait: Market for Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam 2024

Market Size for Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam in Kuwait

The Kuwaiti market for central heating boilers, for producing hot water or low pressure steam reached $X in 2022, therefore, remained relatively stable against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. Consumption of peaked in 2022 and is likely to see steady growth in the immediate term.

Production of Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam in Kuwait

In value terms, production of central heating boilers, for producing hot water or low pressure steam rose to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 45%. Over the period under review, production of hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam

Exports from Kuwait

In 2022, the amount of central heating boilers, for producing hot water or low pressure steam exported from Kuwait was estimated at X units, approximately reflecting 2021 figures. Overall, exports recorded buoyant growth. The pace of growth appeared the most rapid in 2020 with an increase of 108%. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of central heating boilers, for producing hot water or low pressure steam dropped slightly to $X in 2022. In general, exports enjoyed prominent growth. The pace of growth was the most pronounced in 2020 when exports increased by 129%. Over the period under review, the exports of hit record highs at $X in 2021, and then contracted in the following year.

Exports by Country

Saudi Arabia (X units) was the main destination for exports of central heating boilers, for producing hot water or low pressure steam from Kuwait, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Saudi Arabia totaled +16.8%.

In value terms, Saudi Arabia ($X) also remains the key foreign market for central heating boilers, for producing hot water or low pressure steam exports from Kuwait.

From 2012 to 2022, the average annual rate of growth in terms of value to Saudi Arabia stood at +10.9%.

Export Prices by Country

The average export price for central heating boilers, for producing hot water or low pressure steam stood at $X per unit in 2022, remaining constant against the previous year. Over the period under review, the export price continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2020 when the average export price increased by 10% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Saudi Arabia.

From 2012 to 2022, the rate of growth in terms of prices for Saudi Arabia amounted to -5.0% per year.

Imports of Central Heating Boilers, For Producing Hot Water Or Low Pressure Steam

Imports into Kuwait

After two years of growth, purchases abroad of central heating boilers, for producing hot water or low pressure steam decreased by -24.8% to X units in 2022. Over the period under review, imports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 1,013% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of central heating boilers, for producing hot water or low pressure steam reduced sharply to $X in 2022. In general, imports, however, showed a significant expansion. The growth pace was the most rapid in 2017 when imports increased by 759% against the previous year. Over the period under review, imports of hit record highs at $X in 2021, and then dropped dramatically in the following year.

Imports by Country

The United States (X units), Germany (X units) and South Korea (X units) were the main suppliers of imports of central heating boilers, for producing hot water or low pressure steam to Kuwait, together comprising 67% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +83.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of central heating boilers, for producing hot water or low pressure steam to Kuwait, comprising 41% of total imports. The second position in the ranking was held by Germany ($X), with a 14% share of total imports. It was followed by South Korea, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +25.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+87.7% per year) and South Korea (+40.8% per year).

Import Prices by Country

The average import price for central heating boilers, for producing hot water or low pressure steam stood at $X per unit in 2022, declining by -8.2% against the previous year. Overall, the import price showed a slight shrinkage. The growth pace was the most rapid in 2019 when the average import price increased by 62%. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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