Oman: Air Conditioning Machine Market 2024

Air Conditioning Machine Market Size in Oman

The Omani air conditioning machine market surged to $X in 2022, growing by 29% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Air Conditioning Machine Exports

Exports from Oman

Air conditioning machine exports from Oman soared to X units in 2022, with an increase of 171% compared with 2021 figures. In general, exports, however, showed a abrupt slump. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, air conditioning machine exports surged to $X in 2022. Over the period under review, exports, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2017 when exports increased by 157%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Singapore (X units) was the main destination for air conditioning machine exports from Oman, accounting for a 50% share of total exports. Moreover, air conditioning machine exports to Singapore exceeded the volume sent to the second major destination, the United Arab Emirates (X units), threefold. The third position in this ranking was taken by Qatar (X units), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Singapore amounted to -16.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-9.6% per year) and Qatar (+7.7% per year).

In value terms, the United Arab Emirates ($X), Singapore ($X) and Qatar ($X) constituted the largest markets for air conditioning machine exported from Oman worldwide, with a combined 86% share of total exports. Bahrain, Iran, Yemen and Saudi Arabia lagged somewhat behind, together comprising a further 13%.

Among the main countries of destination, Yemen, with a CAGR of +8.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average air conditioning machine export price amounted to $X per unit, waning by -18.8% against the previous year. In general, the export price saw a perceptible contraction. The growth pace was the most rapid in 2018 an increase of 90%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average 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 ($X per unit), while the average price for exports to Yemen ($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 Kazakhstan (+58.2%), while the prices for the other major destinations experienced more modest paces of growth.

Air Conditioning Machine Imports

Imports into Oman

In 2022, approx. X units of non-window or wall air conditioning machines were imported into Oman; growing by 29% on 2021 figures. Over the period under review, imports, however, recorded a pronounced decrease. The most prominent rate of growth was recorded in 2016 when imports increased by 109%. As a result, imports reached the peak of X units. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, air conditioning machine imports soared to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 221%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X units), the UK (X units) and Malaysia (X units) were the main suppliers of air conditioning machine imports to Oman, with a combined 59% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +42.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of non-window or wall air conditioning machines to Oman, comprising 29% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 13% share of total imports. It was followed by Malaysia, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates amounted to +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+8.8% per year) and Malaysia (-11.6% per year).

Import Prices by Country

The average air conditioning machine import price stood at $X per unit in 2022, increasing by 1.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The pace of growth was the most pronounced in 2016 an increase of 54%. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

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 Thailand ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform