Kuwait: Market for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers 2024

Market Size for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers in Kuwait

The Kuwaiti market for iron or steel gas domestic cooking appliances and plate warmers dropped to $X in 2022, reducing by -13.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X, and then fell in the following year.

Exports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Exports from Kuwait

In 2022, exports of iron or steel gas domestic cooking appliances and plate warmers from Kuwait declined significantly to X units, dropping by -32.7% against 2021 figures. Over the period under review, exports saw a abrupt decrease. The pace of growth was the most pronounced in 2018 when exports increased by 828%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, exports of iron or steel gas domestic cooking appliances and plate warmers contracted markedly to $X in 2022. Overall, exports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 728%. Over the period under review, the exports of reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Iran (X units) was the main destination for exports of iron or steel gas domestic cooking appliances and plate warmers from Kuwait, with a 39% share of total exports. Moreover, exports of iron or steel gas domestic cooking appliances and plate warmers to Iran exceeded the volume sent to the second major destination, India (X units), threefold. Iraq (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Iran stood at -3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+56.8% per year) and Iraq (-29.6% per year).

In value terms, Qatar ($X), Iran ($X) and the United Arab Emirates ($X) were the largest markets for iron or steel gas domestic cooking appliances and plate warmers exported from Kuwait worldwide, with a combined 61% share of total exports. Iraq, Saudi Arabia, Egypt, India and Australia lagged somewhat behind, together accounting for a further 19%.

In terms of the main countries of destination, Egypt, with a CAGR of +35.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for iron or steel gas domestic cooking appliances and plate warmers amounted to $X per unit, rising by 21% against the previous year. Overall, export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for iron or steel gas domestic cooking appliances and plate warmers increased by +69.2% against 2019 indices. The pace of growth was the most pronounced in 2020 an increase of 47%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per unit), while the average price for exports to India ($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 the United Arab Emirates (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Imports into Kuwait

In 2022, imports of iron or steel gas domestic cooking appliances and plate warmers into Kuwait fell to X units, reducing by -1.7% compared with the year before. In general, total imports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +13.6% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 31% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, imports of iron or steel gas domestic cooking appliances and plate warmers plummeted to $X in 2022. Overall, total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +31.3% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 63% against the previous year. As a result, imports reached the peak of $X, and then shrank significantly in the following year.

Imports by Country

China (X units), Italy (X units) and Turkey (X units) were the main suppliers of imports of iron or steel gas domestic cooking appliances and plate warmers to Kuwait, with a combined 82% share of total imports. Egypt, Vietnam, Iran and India lagged somewhat behind, together comprising a further 10%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Iran (with a CAGR of +30.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of iron or steel gas domestic cooking appliances and plate warmers to Kuwait, comprising 52% of total imports. The second position in the ranking was taken by Turkey ($X), with a 22% share of total imports. It was followed by China, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy stood at +1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+9.8% per year) and China (+8.8% per year).

Import Prices by Country

The average import price for iron or steel gas domestic cooking appliances and plate warmers stood at $X per unit in 2022, which is down by -17.8% against the previous year. In general, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for iron or steel gas domestic cooking appliances and plate warmers increased by +93.8% against 2019 indices. The pace of growth was the most pronounced in 2020 when the average import price increased by 68% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2021, and then declined sharply in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per unit), while the price for India ($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 (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform