South Africa: Thermostat Market 2024

Thermostat Market Size in South Africa

In 2021, the South African thermostat market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Thermostat Exports

Exports from South Africa

After two years of decline, overseas shipments of thermostats increased by 117% to X units in 2021. Over the period under review, exports continue to indicate a perceptible expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, thermostat exports surged to $X in 2021. Overall, exports continue to indicate prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X units) was the main destination for thermostat exports from South Africa, accounting for a 44% share of total exports. Moreover, thermostat exports to China exceeded the volume sent to the second major destination, Namibia (X units), fourfold. Botswana (X units) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to China amounted to +244.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Namibia (+6.8% per year) and Botswana (+3.8% per year).

In value terms, China ($X) emerged as the key foreign market for thermostats exports from South Africa, comprising 69% of total exports. The second position in the ranking was held by Botswana ($X), with a 5.7% share of total exports. It was followed by Namibia, with a 4.5% share.

From 2012 to 2021, the average annual growth rate of value to China totaled +201.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Botswana (+2.2% per year) and Namibia (-0.9% per year).

Export Prices by Country

In 2021, the average thermostat export price amounted to $X per unit, surging by 64% against the previous year. Overall, export price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, thermostat export price increased by +75.9% against 2018 indices. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Swaziland ($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 Turkey (+15.4%), while the prices for the other major destinations experienced more modest paces of growth.

Thermostat Imports

Imports into South Africa

In 2021, the amount of thermostats imported into South Africa soared to X units, picking up by 19% compared with 2020. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by 21% against the previous year. Imports peaked at X units in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, thermostat imports stood at $X in 2021. In general, imports, however, saw a slight reduction. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest thermostat supplier to South Africa, accounting for a 67% share of total imports. Moreover, thermostat imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), sixfold. France (X units) ranked third in terms of total imports with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+15.8% per year) and France (-8.1% per year).

In value terms, China ($X) constituted the largest supplier of thermostats to South Africa, comprising 42% of total imports. The second position in the ranking was held by Italy ($X), with a 20% share of total imports. It was followed by Germany, with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +13.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-2.0% per year) and Germany (-7.3% per year).

Import Prices by Country

In 2021, the average thermostat import price amounted to $X per unit, falling by -4.7% against the previous year. In general, the import price recorded a mild contraction. The pace of growth was the most pronounced in 2017 when the average import price increased by 40% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for France ($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 (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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