Middle East: Heat Pump Market 2024

Heat Pump Market Size in the Middle East

The Middle Eastern heat pump market dropped to $X in 2021, declining by -4.5% against the previous year. In general, consumption showed a noticeable decline. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Heat Pump Production in the Middle East

In value terms, heat pump production reduced modestly to $X in 2021 estimated in export price. Overall, production showed a prominent increase. The pace of growth appeared the most rapid in 2018 with an increase of 49% against the previous year. The level of production peaked at $X in 2020, and then fell modestly in the following year.

Heat Pump Exports

Exports in the Middle East

In 2021, approx. X units of heat pumps (other than air conditioning machines) were exported in the Middle East; jumping by 403% compared with the year before. Overall, exports posted buoyant growth. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, heat pump exports soared to $X in 2021. In general, exports enjoyed a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates prevails in exports structure, recording X units, which was approx. 92% of total exports in 2021. Turkey (X units) and Jordan (X units) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the heat pumps (other than air conditioning machines) exports, with a CAGR of +29.5% from 2012 to 2021. At the same time, Jordan (+9.5%) displayed positive paces of growth. By contrast, Turkey (-8.3%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+54 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Jordan (-2 p.p.) and Turkey (-32.2 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest heat pump supplier in the Middle East, comprising 82% of total exports. The second position in the ranking was held by Jordan ($X), with a 10% share of total exports.

In the United Arab Emirates, heat pump exports expanded at an average annual rate of +32.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Jordan (+8.8% per year) and Turkey (-7.5% per year).

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2021, shrinking by -2.6% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 64%. The level of export peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.0%), while the other leaders experienced mixed trends in the export price figures.

Heat Pump Imports

Imports in the Middle East

In 2021, purchases abroad of heat pumps (other than air conditioning machines) increased by 41% to X units, rising for the second year in a row after six years of decline. Over the period under review, imports, however, recorded a mild contraction. The most prominent rate of growth was recorded in 2013 when imports increased by 42%. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, heat pump imports soared to $X in 2021. In general, imports, however, continue to indicate a noticeable contraction. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Turkey (X units) and the United Arab Emirates (X units) represented roughly 61% of total imports in 2021. Israel (X units) ranks next in terms of the total imports with a 15% share, followed by Oman (7.3%) and Saudi Arabia (4.7%). Qatar (X units) and Kuwait (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the United Arab Emirates (with a CAGR of +10.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest heat pump importing markets in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Saudi Arabia ($X), together comprising 67% of total imports. Israel, Qatar, Oman and Kuwait lagged somewhat behind, together comprising a further 27%.

Israel, with a CAGR of +9.1%, recorded the highest growth rate of 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

The import price in the Middle East stood at $X per unit in 2021, picking up by 16% against the previous year. Overall, the import price, however, saw a mild descent. The most prominent rate of growth was recorded in 2015 an increase of 34%. As a result, import price attained the peak level of $X per unit. From 2016 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Saudi Arabia ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+8.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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