Kuwait: Fire Extinguisher Market 2024

Fire Extinguisher Market Size in Kuwait

In 2022, the Kuwaiti fire extinguisher market increased by 33% to $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption continues to indicate pronounced growth. Fire extinguisher consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Fire Extinguisher Exports

Exports from Kuwait

In 2022, the amount of fire extinguishers exported from Kuwait declined to X units, waning by -7% compared with the previous year. In general, exports faced a deep reduction. The growth pace was the most rapid in 2017 with an increase of 1,035%. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, fire extinguisher exports shrank to $X in 2022. Overall, exports saw a sharp downturn. The pace of growth was the most pronounced in 2017 with an increase of 971% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X units) was the main destination for fire extinguisher exports from Kuwait, accounting for a 25% share of total exports. Moreover, fire extinguisher exports to Saudi Arabia exceeded the volume sent to the second major destination, Oman (X units), sixfold. Germany (X units) ranked third in terms of total exports with a 3.1% share.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (-10.9% per year) and Germany (-19.9% per year).

In value terms, the United States ($X) emerged as the key foreign market for fire extinguishers exports from Kuwait, comprising 38% of total exports. The second position in the ranking was taken by the UK ($X), with a 17% share of total exports. It was followed by France, with a 17% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-47.6% per year) and France (-13.7% per year).

Export Prices by Country

In 2022, the average fire extinguisher export price amounted to $X per unit, leveling off at the previous year. Overall, the export price, however, faced a sharp shrinkage. The pace of growth appeared the most rapid in 2021 when the average export price increased by 0.3%. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per unit), while the average price for exports to Oman ($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 Austria (+53.4%), while the prices for the other major destinations experienced more modest paces of growth.

Fire Extinguisher Imports

Imports into Kuwait

In 2022, after three years of decline, there was significant growth in overseas purchases of fire extinguishers, when their volume increased by 30% to X units. Over the period under review, imports showed noticeable growth. The pace of growth appeared the most rapid in 2013 with an increase of 57%. Over the period under review, imports attained the peak figure at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, fire extinguisher imports surged to $X in 2022. In general, imports posted a slight increase. The pace of growth was the most pronounced in 2016 with an increase of 47%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X units), China (X units) and Malaysia (X units) were the main suppliers of fire extinguisher imports to Kuwait, with a combined 64% share of total imports. Spain, Thailand, Singapore, the Netherlands, Italy, Germany, the United States and the UK lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +46.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constituted the largest supplier of fire extinguishers to Kuwait, comprising 47% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 11% share of total imports. It was followed by Spain, with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands totaled +25.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+4.7% per year) and Spain (+32.8% per year).

Import Prices by Country

In 2022, the average fire extinguisher import price amounted to $X per unit, picking up by 5.9% against the previous year. In general, the import price, however, recorded a mild descent. The pace of growth was the most pronounced in 2016 an increase of 45% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 the Netherlands ($X per unit), while the price for Thailand ($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 Netherlands (+6.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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