Report Update Nov 1, 2024

Saudi Arabia - Heat Pumps (Other Than Air Conditioning Machines) - Market Analysis, Forecast, Size, Trends and Insights

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Saudi Arabia: Heat Pump Market 2024

Heat Pump Market Size in Saudi Arabia

After seven years of decline, the Saudi heat pump market increased by 26% to $X in 2021. Overall, consumption, however, faced a dramatic setback. 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 Exports

Exports from Saudi Arabia

In 2021, overseas shipments of heat pumps (other than air conditioning machines) decreased by -95% to X units for the first time since 2016, thus ending a four-year rising trend. In general, exports saw a precipitous decline. The growth pace was the most rapid in 2017 with an increase of 207% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, heat pump exports reduced sharply to $X in 2021. Over the period under review, exports showed a abrupt downturn. The growth pace was the most rapid in 2017 when exports increased by 484% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Tanzania (X units) and Ethiopia (X units) were the main destinations of heat pump exports from Saudi Arabia.

From 2012 to 2021, the biggest increases were recorded for Ethiopia (with a CAGR of -9.4%).

In value terms, Ethiopia ($X) emerged as the key foreign market for heat pumps (other than air conditioning machines) exports from Saudi Arabia, comprising 0.5% of total exports. The second position in the ranking was held by Kenya ($X), with a 0.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Ethiopia stood at -18.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (-66.9% per year) and Tanzania (-53.1% per year).

Export Prices by Country

In 2021, the average heat pump export price amounted to $X per unit, jumping by 398% against the previous year. Overall, the export price continues to indicate significant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Kenya ($X per unit), while the average price for exports to Tanzania ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+76.4%), while the prices for the other major destinations experienced mixed trend patterns.

Heat Pump Imports

Imports into Saudi Arabia

In 2021, supplies from abroad of heat pumps (other than air conditioning machines) was finally on the rise to reach X units after seven years of decline. Over the period under review, imports, however, showed a sharp slump. The pace of growth appeared the most rapid in 2013 when imports increased by 58% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, heat pump imports soared to $X in 2021. Overall, imports, however, showed a abrupt downturn. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United Arab Emirates (X units) constituted the largest supplier of heat pump to Saudi Arabia, with a 20% share of total imports. Moreover, heat pump imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The United States (X units) ranked third in terms of total imports with an 8.4% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates totaled +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.5% per year) and the United States (-28.8% per year).

In value terms, the United States ($X) constituted the largest supplier of heat pumps (other than air conditioning machines) to Saudi Arabia, comprising 81% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 5.9% share of total imports. It was followed by China, with a 4.4% share.

From 2012 to 2021, the average annual growth rate of value from the United States stood at -14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+1.7% per year) and China (-13.5% per year).

Import Prices by Country

The average heat pump import price stood at $X per unit in 2021, picking up by 126% against the previous year. Over the period under review, the import price saw a buoyant increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for the United Arab Emirates ($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 States (+21.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for heat pumps (other than air conditioning machines) in the world?

The countries with the highest volumes of heat pump consumption in 2020 were China, the United States and India, together accounting for 46% of global consumption. Japan, Indonesia, Mexico, Canada, Germany, Democratic Republic of the Congo, South Korea, France, Thailand and Italy lagged somewhat behind, together comprising a further 30%.

What are the largest producers of heat pumps (other than air conditioning machines) in the world?

China constituted the country with the largest volume of heat pump production, comprising approx. 30% of total volume. Moreover, heat pump production in China exceeded the figures recorded by the second-largest producer, India, threefold. The third position in this ranking was occupied by the United States, with a 9.6% share.

What are the leading suppliers of heat pumps (other than air conditioning machines) to Saudi Arabia?

In value terms, the United States constituted the largest supplier of heat pump to Saudi Arabia, comprising 55% of total imports. The second position in the ranking was occupied by China, with a 9.9% share of total imports. It was followed by Italy, with an 8.3% share.

What is the average export price for heat pumps (other than air conditioning machines) in Saudi Arabia?

The average heat pump export price stood at $1,556 per unit in 2020, with an increase of 11% against the previous year.

What is the average import price for heat pumps (other than air conditioning machines) in Saudi Arabia?

The average heat pump import price stood at $3,367 per unit in 2020, declining by -38.3% against the previous year.

This report provides an in-depth analysis of the heat pump market in Saudi Arabia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28251380 - Heat pumps other than air conditioning machines of HS

Country coverage:

Saudi Arabia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Saudi Arabia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023