MENA: Boiler Parts Market 2024

Boiler Parts Market Size in MENA

The MENA's boiler parts market rose modestly to $X in 2021, surging by 1.9% against the previous year. Overall, consumption showed a pronounced decline. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Boiler Parts Production in MENA

In value terms, boiler parts production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 32%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Boiler Parts Exports

Exports in MENA

In 2021, overseas shipments of parts of boilers for central heating increased by 47% to X tons, rising for the fifth year in a row after four years of decline. In general, exports enjoyed a prominent increase. The pace of growth was the most pronounced in 2020 when exports increased by 70% against the previous year. The volume of export peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, boiler parts exports soared to $X in 2021. Over the period under review, exports enjoyed a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X tons) represented roughly 99% of total exports in 2021.

Turkey was also the fastest-growing in terms of the parts of boilers for central heating exports, with a CAGR of +10.3% from 2012 to 2021. While the share of Turkey (+4.1 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) also remains the largest boiler parts supplier in MENA.

From 2012 to 2021, the average annual growth rate of value in Turkey totaled +13.5%.

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, growing by 20% against the previous year. Export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, boiler parts export price decreased by -24.5% against 2016 indices. The growth pace was the most rapid in 2014 when the export price increased by 54%. Over the period under review, the export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2012 to 2021, the rate of growth in terms of prices for Turkey amounted to +2.9% per year.

Boiler Parts Imports

Imports in MENA

In 2021, purchases abroad of parts of boilers for central heating increased by 72% to X tons for the first time since 2015, thus ending a five-year declining trend. Overall, imports, however, recorded a abrupt contraction. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, boiler parts imports soared to $X in 2021. Over the period under review, imports, however, saw a deep contraction. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Turkey was the main importer of parts of boilers for central heating in MENA, with the volume of imports recording X tons, which was approx. 46% of total imports in 2021. Algeria (X tons) took an 18% share (based on physical terms) of total imports, which put it in second place, followed by Iran (14%), Jordan (8.9%) and Lebanon (8%).

Imports into Turkey decreased at an average annual rate of -2.1% from 2012 to 2021. At the same time, Lebanon (+34.7%) and Algeria (+27.6%) displayed positive paces of growth. Moreover, Lebanon emerged as the fastest-growing importer imported in MENA, with a CAGR of +34.7% from 2012-2021. Jordan experienced a relatively flat trend pattern. By contrast, Iran (-17.9%) illustrated a downward trend over the same period. Turkey (+31 p.p.), Algeria (+17 p.p.), Lebanon (+7.8 p.p.) and Jordan (+6.5 p.p.) significantly strengthened its position in terms of the total imports, while Iran saw its share reduced by -8% from 2012 to 2021, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported parts of boilers for central heating in MENA, comprising 53% of total imports. The second position in the ranking was held by Iran ($X), with a 20% share of total imports. It was followed by Algeria, with a 16% share.

In Turkey, boiler parts imports decreased by an average annual rate of -3.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Iran (-18.8% per year) and Algeria (+22.4% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, which is down by -13.3% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 23% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Iran ($X per ton), while Jordan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (-1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform