Kuwait: Heat Exchange Unit Market 2024

Heat Exchange Unit Exports

Exports from Kuwait

In 2022, exports of heat exchange units from Kuwait soared to X units, jumping by 105% against the previous year. Over the period under review, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by 275% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, heat exchange unit exports soared to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by 270%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units) was the main destination for heat exchange unit exports from Kuwait, accounting for a 41% share of total exports. Moreover, heat exchange unit exports to the United Arab Emirates exceeded the volume sent to the second major destination, Bahrain (X units), threefold. Turkey (X units) ranked third in terms of total exports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates stood at +55.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (-11.7% per year) and Turkey (0.0% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for heat exchange units exports from Kuwait, comprising 44% of total exports. The second position in the ranking was held by Qatar ($X), with a 17% share of total exports. It was followed by Turkey, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates amounted to +49.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+26.2% per year) and Turkey (0.0% per year).

Export Prices by Country

The average heat exchange unit export price stood at $X per unit in 2022, shrinking by -13.9% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by 22%. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Bahrain ($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 Qatar (+23.4%), while the prices for the other major destinations experienced more modest paces of growth.

Heat Exchange Unit Imports

Imports into Kuwait

In 2022, approx. X units of heat exchange units were imported into Kuwait; dropping by -24.3% against the year before. Over the period under review, imports saw a abrupt setback. The growth pace was the most rapid in 2016 when imports increased by 728%. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, heat exchange unit imports reduced remarkably to $X in 2022. Overall, imports continue to indicate a deep downturn. The growth pace was the most rapid in 2016 when imports increased by 417%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, South Korea (X units) constituted the largest supplier of heat exchange unit to Kuwait, accounting for a 37% share of total imports. Moreover, heat exchange unit imports from South Korea exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), fourfold. The third position in this ranking was taken by Italy (X units), with a 9.4% share.

From 2012 to 2022, the average annual growth rate of volume from South Korea totaled -17.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+3.8% per year) and Italy (-5.2% per year).

In value terms, South Korea ($X), Italy ($X) and India ($X) constituted the largest heat exchange unit suppliers to Kuwait, together accounting for 44% of total imports. The United Arab Emirates, the United States, Germany, Sweden, China, the UK, Bahrain, Malaysia, Denmark and Saudi Arabia lagged somewhat behind, together accounting for a further 20%.

Among the main suppliers, China, with a CAGR of +12.8%, 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 heat exchange unit import price stood at $X per unit in 2022, remaining relatively unchanged against the previous year. Overall, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, heat exchange unit import price decreased by -7.1% against 2020 indices. The most prominent rate of growth was recorded in 2019 an increase of 57% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2014; however, from 2015 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 Germany ($X per unit), while the price for Denmark ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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