Kuwait: Market for Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters 2024

Market Size for Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters in Kuwait

After six years of growth, the Kuwaiti electric oven and cooker market decreased by -7.3% to $X in 2022. Overall, consumption saw a strong increase. Electric oven and cooker consumption peaked at $X in 2021, and then shrank in the following year.

Exports of Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters

Exports from Kuwait

In 2022, approx. X units of electric ovens, cookers, cooking plates, boiling rings, grillers and roasters were exported from Kuwait; which is down by -48.8% against 2021. Overall, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 5,416%. As a result, the exports reached the peak of X units, and then dropped notably in the following year.

In value terms, electric oven and cooker exports declined rapidly to $X in 2022. In general, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2021 when exports increased by 6,804% against the previous year. As a result, the exports attained the peak of $X, and then shrank sharply in the following year.

Exports by Country

Saudi Arabia (X units) was the main destination for electric oven and cooker exports from Kuwait, accounting for a 89% share of total exports. Moreover, electric oven and cooker exports to Saudi Arabia exceeded the volume sent to the second major destination, the United Arab Emirates (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia stood at +112.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+51.4% per year) and Qatar (+74.0% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for electric ovens, cookers, cooking plates, boiling rings, grillers and roasters exports from Kuwait, comprising 81% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 9.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Saudi Arabia amounted to +112.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+46.6% per year) and Qatar (+77.9% per year).

Export Prices by Country

The average electric oven and cooker export price stood at $X per unit in 2022, flattening at the previous year. Over the period under review, the export price continues to indicate a perceptible shrinkage. The growth pace was the most rapid in 2013 when the average export price increased by 59% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Saudi Arabia ($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 Jordan (+40.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters

Imports into Kuwait

After six years of growth, supplies from abroad of electric ovens, cookers, cooking plates, boiling rings, grillers and roasters decreased by -0.4% to X units in 2022. In general, imports, however, recorded strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 46% against the previous year. Over the period under review, imports reached the peak figure at X units in 2021, and then dropped modestly in the following year.

In value terms, electric oven and cooker imports fell to $X in 2022. Overall, imports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2016 when imports increased by 40%. Over the period under review, imports hit record highs at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electric oven and cooker to Kuwait, with a 81% share of total imports. Moreover, electric oven and cooker imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), more than tenfold. The third position in this ranking was held by Turkey (X units), with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+12.0% per year) and Turkey (+17.7% per year).

In value terms, China ($X), Italy ($X) and Turkey ($X) constituted the largest electric oven and cooker suppliers to Kuwait, together comprising 82% of total imports. These countries were followed by Greece, which accounted for a further 4.2%.

In terms of the main suppliers, Greece, with a CAGR of +23.2%, 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

In 2022, the average electric oven and cooker import price amounted to $X per unit, which is down by -10.3% against the previous year. In general, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electric oven and cooker import price increased by +34.6% against 2018 indices. The pace of growth appeared the most rapid in 2019 an increase of 31%. Over the period under review, average import prices hit record highs at $X per unit in 2021, and then reduced in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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