Saudi Arabia: Electric Water Heater Market 2025

Electric Water Heater Market Size in Saudi Arabia

The Saudi electric water heater market totaled $X in 2022, picking up by 3% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Electric Water Heater Production in Saudi Arabia

In value terms, electric water heater production amounted to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 81%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Electric Water Heater Exports

Exports from Saudi Arabia

Electric water heater exports from Saudi Arabia rose slightly to X units in 2022, surging by 2.6% against the previous year's figure. The total export volume increased at an average annual rate of +1.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 32%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, electric water heater exports shrank to $X in 2022. Over the period under review, exports, however, recorded a mild curtailment. The growth pace was the most rapid in 2018 when exports increased by 22%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units), Kuwait (X units) and Jordan (X units) were the main destinations of electric water heater exports from Saudi Arabia, together comprising 53% of total exports. Bahrain, Spain, Yemen, Algeria, Oman and Egypt lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Yemen (with a CAGR of +38.2%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the key foreign market for electric water heaters and immersion heaters exports from Saudi Arabia, comprising 37% of total exports. The second position in the ranking was taken by Kuwait ($X), with an 18% share of total exports. It was followed by Bahrain, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates stood at +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (-0.3% per year) and Bahrain (+2.9% per year).

Export Prices by Country

In 2022, the average electric water heater export price amounted to $X per unit, reducing by -10.9% against the previous year. Over the period under review, the export price showed a perceptible curtailment. The pace of growth was the most pronounced in 2015 an increase of 47% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, 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 the United Arab Emirates (+2.6%), while the prices for the other major destinations experienced a decline.

Electric Water Heater Imports

Imports into Saudi Arabia

In 2022, overseas purchases of electric water heaters and immersion heaters were finally on the rise to reach X units after two years of decline. Over the period under review, imports, however, saw a pronounced decline. The pace of growth was the most pronounced in 2015 with an increase of 33% against the previous year. Imports peaked at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, electric water heater imports reduced slightly to $X in 2022. Overall, total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +53.5% against 2018 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 36%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Italy (X units), the United Arab Emirates (X units) and China (X units) were the main suppliers of electric water heater imports to Saudi Arabia, together accounting for 77% of total imports. Bahrain, Mexico, the United States and Turkey lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +15.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Italy ($X) and Mexico ($X) were the largest electric water heater suppliers to Saudi Arabia, together accounting for 67% of total imports.

In terms of the main suppliers, Mexico, with a CAGR of +29.5%, saw 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, shrinking by -13.7% against the previous year. In general, the import price, however, saw a prominent expansion. The pace of growth was the most pronounced in 2020 when the average import price increased by 46% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2021, and then contracted in the following year.

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 the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+12.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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