Oman: Electric Water Heater Market 2024

Electric Water Heater Market Size in Oman

The Omani electric water heater market stood at $X in 2022, surging by 11% against the previous year. Overall, consumption showed a resilient increase. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Electric Water Heater Production in Oman

In value terms, electric water heater production expanded rapidly to $X in 2022 estimated in export price. Overall, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.9% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 71%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Electric Water Heater Exports

Exports from Oman

In 2022, approx. X units of electric water heaters and immersion heaters were exported from Oman; almost unchanged from the year before. Over the period under review, exports recorded a abrupt descent. The pace of growth appeared the most rapid in 2016 with an increase of 93% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, electric water heater exports dropped to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 71%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Qatar (X units), Kuwait (X units) and the United Arab Emirates (X units) were the main destinations of electric water heater exports from Oman, together accounting for 94% 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 Kuwait (with a CAGR of +10.4%), while the other leaders experienced mixed trend patterns.

In value terms, Kuwait ($X), Qatar ($X) and the United Arab Emirates ($X) appeared to be the largest markets for electric water heater exported from Oman worldwide, with a combined 94% share of total exports.

Kuwait, with a CAGR of +19.9%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average electric water heater export price amounted to $X per unit, dropping by -7.7% against the previous year. Over the period under review, export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electric water heater export price increased by +48.5% against 2017 indices. The most prominent rate of growth was recorded in 2013 an increase of 54%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Kuwait ($X per unit) and Qatar ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) and Bahrain ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Water Heater Imports

Imports into Oman

Electric water heater imports into Oman reached X units in 2022, growing by 8.9% against 2021 figures. Over the period under review, imports posted a strong increase. The most prominent rate of growth was recorded in 2020 with an increase of 58%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, electric water heater imports expanded markedly to $X in 2022. Overall, imports continue to indicate a resilient increase. The pace of growth was the most pronounced in 2020 when imports increased by 60%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electric water heater to Oman, with a 41% share of total imports. Moreover, electric water heater imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), twofold. Bahrain (X units) ranked third in terms of total imports with an 8.8% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +15.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+7.1% per year) and Bahrain (+78.7% per year).

In value terms, the largest electric water heater suppliers to Oman were China ($X), the United Arab Emirates ($X) and Egypt ($X), together comprising 70% of total imports. Bahrain, Italy, India, the United States and Saudi Arabia lagged somewhat behind, together comprising a further 24%.

In terms of the main suppliers, Bahrain, with a CAGR of +81.4%, 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

In 2022, the average electric water heater import price amounted to $X per unit, growing by 3.4% against the previous year. Overall, the import price, however, saw a noticeable decline. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were India ($X per unit) and Italy ($X per unit), while the price for Bahrain ($X per unit) and Saudi Arabia ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+1.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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