Oman: Electric Heating Equipment Market 2024

Electric Heating Equipment Market Size in Oman

In 2022, after two years of decline, there was significant growth in the Omani electric heating equipment market, when its value increased by 45% to $X. Over the period under review, consumption, however, saw a abrupt descent. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Electric Heating Equipment Exports

Exports from Oman

In 2022, the amount of electric space heating apparatus and soil heating apparatus exported from Oman rose slightly to X units, picking up by 2% on the previous year. Over the period under review, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 866% against the previous year. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, electric heating equipment exports totaled $X in 2022. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 813%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Kuwait (X units), the United Arab Emirates (X units) and Qatar (X units) were the main destinations of electric heating equipment exports from Oman, with a combined 97% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +65.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the key foreign market for electric space heating apparatus and soil heating apparatus exports from Oman, comprising 66% of total exports. The second position in the ranking was held by Kuwait ($X), with a 28% share of total exports. It was followed by Iran, with a 4.3% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates amounted to +69.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+53.7% per year) and Iran (+66.3% per year).

Export Prices by Country

The average electric heating equipment export price stood at $X per unit in 2022, flattening at the previous year. Overall, the export price, however, continues to indicate a mild decrease. The most prominent rate of growth was recorded in 2018 when the average export price increased by 113% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Qatar ($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 Iran (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Heating Equipment Imports

Imports into Oman

Electric heating equipment imports into Oman surged to X units in 2022, rising by 20% against 2021. Over the period under review, imports, however, recorded a pronounced decline. The growth pace was the most rapid in 2018 with an increase of 64%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, electric heating equipment imports reached $X in 2022. Overall, imports, however, recorded a noticeable decline. The most prominent rate of growth was recorded in 2018 with an increase of 106%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X units) constituted the largest electric heating equipment supplier to Oman, accounting for a 36% share of total imports. Moreover, electric heating equipment imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was taken by India (X units), with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates totaled -7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.8% per year) and India (+20.8% per year).

In value terms, the United Arab Emirates ($X), China ($X) and India ($X) appeared to be the largest electric heating equipment suppliers to Oman, with a combined 57% share of total imports. Luxembourg, Germany, France, the UK, Spain and Saudi Arabia lagged somewhat behind, together accounting for a further 21%.

Luxembourg, with a CAGR of +316.3%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average electric heating equipment import price amounted to $X per unit, falling by -6.6% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 219%. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Luxembourg ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Luxembourg (+26.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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