GCC: Market for Electrical Boards, Panels, Consoles, Desks and Cabinets 2024

Market Size for Electrical Boards, Panels, Consoles, Desks and Cabinets in GCC

The GCC market for electrical boards, panels, consoles, desks and cabinets soared to $X in 2021, growing by 39% against the previous year. The total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -0.3% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Electrical Boards, Panels, Consoles, Desks and Cabinets in GCC

In value terms, electric board, desk and panel production soared to $X in 2021 estimated in export price. In general, production enjoyed prominent growth. The most prominent rate of growth was recorded in 2015 when the production volume increased by 54% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Electrical Boards, Panels, Consoles, Desks and Cabinets

Exports in GCC

In 2021, overseas shipments of electrical boards, panels, consoles, desks and cabinets increased by 9.3% to X units, rising for the second year in a row after two years of decline. Total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +11.0% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 69%. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, electric board, desk and panel exports stood at $X in 2021. In general, exports posted a strong increase. The pace of growth was the most pronounced in 2017 when exports increased by 86% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, the United Arab Emirates (X units) represented the major exporter of electrical boards, panels, consoles, desks and cabinets, committing 57% of total exports. Saudi Arabia (X units) ranks second in terms of the total exports with a 26% share, followed by Oman (16%).

Exports from the United Arab Emirates increased at an average annual rate of +1.9% from 2012 to 2021. At the same time, Oman (+50.4%) and Saudi Arabia (+7.0%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +50.4% from 2012-2021. While the share of Oman (+15 p.p.) and Saudi Arabia (+4.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-17.2 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest electric board, desk and panel supplier in GCC, comprising 58% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 27% share of total exports.

In the United Arab Emirates, electric board, desk and panel exports expanded at an average annual rate of +5.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (+8.6% per year) and Oman (+47.8% per year).

Export Prices by Country

In 2021, the export price in GCC amounted to $X per unit, surging by 4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2014 when the export price increased by 37% against the previous year. The level of export peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while Oman ($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 Arab Emirates (+3.9%), while the other leaders experienced mixed trends in the export price figures.

Imports of Electrical Boards, Panels, Consoles, Desks and Cabinets

Imports in GCC

In 2021, overseas purchases of electrical boards, panels, consoles, desks and cabinets increased by 27% to X units for the first time since 2017, thus ending a three-year declining trend. Total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by 44%. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, electric board, desk and panel imports surged to $X in 2021. The total import value increased at an average annual rate of +4.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when imports increased by 22%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

The United Arab Emirates represented the main importing country with an import of about X units, which resulted at 75% of total imports. Oman (X units) ranks second in terms of the total imports with a 13% share, followed by Kuwait (5.8%). Bahrain (X units) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to electric board, desk and panel imports into the United Arab Emirates stood at +7.1%. At the same time, Kuwait (+14.6%), Bahrain (+8.2%) and Oman (+1.7%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of +14.6% from 2012-2021. While the share of the United Arab Emirates (+6.1 p.p.) and Kuwait (+2.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Oman (-6.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported electrical boards, panels, consoles, desks and cabinets in GCC, comprising 39% of total imports. The second position in the ranking was held by Kuwait ($X), with a 4.9% share of total imports. It was followed by Oman, with a 3.8% share.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates totaled +11.2%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (+18.7% per year) and Oman (-0.3% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2021, waning by -6.4% against the previous year. Over the period under review, the import price showed a slight reduction. The most prominent rate of growth was recorded in 2020 an increase of 34% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per unit), while Oman ($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 Arab Emirates (+3.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform