Kuwait: Electric Heating Resistor Market 2024

Electric Heating Resistor Market Size in Kuwait

In 2021, after four years of growth, there was significant decline in the Kuwaiti electric heating resistor market, when its value decreased by -49.5% to $X. Over the period under review, consumption recorded a pronounced slump. Over the period under review, the market hit record highs at $X in 2020, and then fell dramatically in the following year.

Electric Heating Resistor Exports

Exports from Kuwait

In 2021, approx. X units of electric heating resistors were exported from Kuwait; picking up by 57% compared with the previous year. Overall, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 6,558% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, electric heating resistor exports surged to $X in 2021. In general, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2020 when exports increased by 11,234%. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Saudi Arabia (X units) was the main destination for electric heating resistor exports from Kuwait, with a 93% share of total exports. It was followed by Germany (X units), with a 1.9% share of total exports. The third position in this ranking was held by Italy (X units), with a 1.2% share.

From 2012 to 2021, the average annual growth rate of volume to Saudi Arabia amounted to +20.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-3.4% per year) and Italy (-21.2% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for electric heating resistors exports from Kuwait, comprising 77% of total exports. The second position in the ranking was taken by Germany ($X), with a 13% share of total exports. It was followed by Italy, with a 0.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Saudi Arabia totaled +14.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-5.5% per year) and Italy (-1.7% per year).

Export Prices by Country

The average electric heating resistor export price stood at $X per unit in 2021, shrinking by -11.8% against the previous year. Over the period under review, the export price recorded a slight slump. The most prominent rate of growth was recorded in 2020 when the average export price increased by 71% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to the United Arab Emirates ($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 Italy (+24.8%), while the prices for the other major destinations experienced a decline.

Electric Heating Resistor Imports

Imports into Kuwait

In 2021, supplies from abroad of electric heating resistors decreased by -37.2% to X units, falling for the second consecutive year after three years of growth. Overall, imports, however, continue to indicate a slight increase. The most prominent rate of growth was recorded in 2015 when imports increased by 117%. Imports peaked at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, electric heating resistor imports shrank significantly to $X in 2021. Over the period under review, imports continue to indicate a pronounced setback. The pace of growth was the most pronounced in 2015 with an increase of 51% against the previous year. Imports peaked at $X in 2020, and then dropped significantly in the following year.

Imports by Country

In 2021, Mexico (X units) constituted the largest electric heating resistor supplier to Kuwait, with a 50% share of total imports. Moreover, electric heating resistor imports from Mexico exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. The third position in this ranking was held by China (X units), with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from Mexico amounted to +68.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-9.9% per year) and China (+25.1% per year).

In value terms, Mexico ($X), Italy ($X) and the United States ($X) constituted the largest electric heating resistor suppliers to Kuwait, with a combined 53% share of total imports.

Mexico, with a CAGR of +33.7%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average electric heating resistor import price stood at $X per unit in 2021, falling by -26% against the previous year. In general, the import price saw a deep setback. The pace of growth was the most pronounced in 2016 an increase of 85%. As a result, import price reached the peak level of $X per unit. From 2017 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+14.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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