MENA: Microwave Oven Market 2024

Microwave Oven Market Size in MENA

The MENA's microwave oven market shrank to $X in 2022, waning by -7.6% against the previous year. The market value increased at an average annual rate of +3.6% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Microwave Oven Production in MENA

In value terms, microwave oven production reached $X in 2022 estimated in export price. The total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +15.1% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 61%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Microwave Oven Exports

Exports in MENA

In 2022, shipments abroad of microwave ovens increased by 24% to X units, rising for the second consecutive year after three years of decline. In general, exports posted buoyant growth. The growth pace was the most rapid in 2017 when exports increased by 89% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, microwave oven exports skyrocketed to $X in 2022. Over the period under review, exports recorded resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by 69%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Turkey was the main exporter of microwave ovens in MENA, with the volume of exports resulting at X units, which was near 68% of total exports in 2022. It was distantly followed by the United Arab Emirates (X units), mixing up a 28% share of total exports. Egypt (X units) took a minor share of total exports.

Exports from Turkey increased at an average annual rate of +12.0% from 2012 to 2022. At the same time, Egypt (+23.4%) and the United Arab Emirates (+3.7%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing exporter exported in MENA, with a CAGR of +23.4% from 2012-2022. Turkey (+27 p.p.) and Egypt (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -8.2% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest microwave oven supplier in MENA, comprising 82% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Turkey stood at +14.3%. In the other countries, the average annual rates were as follows: the United Arab Emirates (-6.0% per year) and Egypt (+40.3% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per unit, growing by 27% against the previous year. Overall, the export price, however, continues to indicate a slight downturn. Over the period under review, the export prices reached the maximum at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Egypt ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+13.7%), while the other leaders experienced mixed trends in the export price figures.

Microwave Oven Imports

Imports in MENA

In 2022, after three years of growth, there was significant decline in overseas purchases of microwave ovens, when their volume decreased by -17.7% to X units. Overall, imports saw a slight decline. The most prominent rate of growth was recorded in 2017 with an increase of 26%. Over the period under review, imports reached the peak figure at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, microwave oven imports dropped to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 35%. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

Turkey (X units) and the United Arab Emirates (X units) represented the main importers of microwave ovens in 2022, resulting at near 26% and 23% of total imports, respectively. Iraq (X units) held the next position in the ranking, followed by Israel (X units). All these countries together took near 26% share of total imports. Qatar (X units), Algeria (X units), Kuwait (X units), Tunisia (X units), Egypt (X units), Morocco (X units), Libya (X units) and Oman (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Iraq (with a CAGR of +23.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest microwave oven importing markets in MENA were Turkey ($X), the United Arab Emirates ($X) and Iraq ($X), with a combined 63% share of total imports.

In terms of the main importing countries, Iraq, with a CAGR of +26.0%, recorded 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 import price in MENA stood at $X per unit in 2022, growing by 4.1% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2016 an increase of 16% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per unit), while Tunisia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+4.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform