Middle East: Heat Exchange Unit Market 2024

Heat Exchange Unit Market Size in the Middle East

The Middle Eastern heat exchange unit market rose rapidly to $X in 2022, increasing by 8% against the previous year. The total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +15.5% against 2019 indices. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Heat Exchange Unit Production in the Middle East

In value terms, heat exchange unit production contracted to $X in 2022 estimated in export price. In general, production, however, saw a buoyant increase. The growth pace was the most rapid in 2018 with an increase of 53%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Heat Exchange Unit Exports

Exports in the Middle East

In 2022, heat exchange unit exports in the Middle East was estimated at X units, picking up by 2.2% against 2021. Total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +35.4% against 2020 indices. The pace of growth was the most pronounced in 2017 when exports increased by 39% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, heat exchange unit exports rose to $X in 2022. Total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +42.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 41% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Turkey (X units) represented the key exporter of heat exchange units, committing 70% of total exports. The United Arab Emirates (X units) took a 23% share (based on physical terms) of total exports, which put it in second place, followed by Israel (6.2%).

Turkey was also the fastest-growing in terms of the heat exchange units exports, with a CAGR of +10.0% from 2012 to 2022. At the same time, the United Arab Emirates (+5.4%) displayed positive paces of growth. By contrast, Israel (-7.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey increased by +25 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest heat exchange unit supplier in the Middle East, comprising 60% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 27% share of total exports.

In Turkey, heat exchange unit exports increased at an average annual rate of +10.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+5.4% per year) and Israel (-7.4% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per unit, remaining constant against the previous year. Over the period under review, the export price continues to indicate a slight decrease. The pace of growth appeared the most rapid in 2016 when the export price increased by 15%. The level of export peaked at $X per unit in 2013; however, from 2014 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 Israel ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+0.5%), while the other leaders experienced more modest paces of growth.

Heat Exchange Unit Imports

Imports in the Middle East

In 2022, the amount of heat exchange units imported in the Middle East soared to X units, increasing by 21% on 2021 figures. In general, imports, however, showed a slight reduction. The most prominent rate of growth was recorded in 2016 when imports increased by 41%. 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 surged to $X in 2022. Over the period under review, imports, however, showed a mild decline. The most prominent rate of growth was recorded in 2015 with an increase of 18% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X units) and Turkey (X units) were the major importers of heat exchange units in 2022, resulting at near 30% and 29% of total imports, respectively. Oman (X units) held the next position in the ranking, followed by Iran (X units), Qatar (X units) and Iraq (X units). All these countries together held near 35% share of total imports. Israel (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +28.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest heat exchange unit importing markets in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Qatar ($X), together accounting for 60% of total imports. These countries were followed by Iran, Oman, Israel and Iraq, which together accounted for a further 23%.

Oman, with a CAGR of +19.2%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per unit, with a decrease of -3.7% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by 88% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per unit), while Oman ($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 United Arab Emirates (+4.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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