GCC: Special Vehicle Body Market 2024

Special Vehicle Body Market Size in GCC

The GCC special vehicle body market reduced slightly to $X in 2022, falling by X% against the previous year. Overall, consumption, however, recorded a strong increase. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Special Vehicle Body Production in GCC

In value terms, special vehicle body production dropped modestly to $X in 2022 estimated in export price. In general, production, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Special Vehicle Body Exports

Exports in GCC

In 2022, shipments abroad of bodies for special purpose motor vehicles decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports recorded a pronounced reduction. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, special vehicle body exports soared to $X in 2022. Over the period under review, exports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia dominates exports structure, reaching X units, which was approx. X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X units), creating a X% share of total exports. Kuwait (X units) took a relatively small share of total exports.

Saudi Arabia was also the fastest-growing in terms of the bodies for special purpose motor vehicles exports, with a CAGR of X% from 2012 to 2022. At the same time, Kuwait (X%) displayed positive paces of growth. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. While the share of Saudi Arabia (X p.p.) and Kuwait (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

Among the main exporting countries, Kuwait, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, growing by X% against the previous year. Export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, special vehicle body export price increased by X% against 2020 indices. The growth pace was the most rapid in 2013 an increase of X%. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced mixed trends in the export price figures.

Special Vehicle Body Imports

Imports in GCC

In 2022, purchases abroad of bodies for special purpose motor vehicles decreased by X% to X units, falling for the third year in a row after two years of growth. Over the period under review, imports continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of import peaked at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, special vehicle body imports shrank modestly to $X in 2022. Overall, imports showed a pronounced downturn. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X units) and Qatar (X units) represented the largest importers of bodies for special purpose motor vehicles in 2022, accounting for approx. X% and X% of total imports, respectively. It was distantly followed by Kuwait (X units), generating a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported bodies for special purpose motor vehicles in GCC, comprising X% of total imports. The second position in the ranking was taken by Kuwait ($X), with a X% share of total imports.

In the United Arab Emirates, special vehicle body imports decreased by an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (X% per year) and Qatar (X% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, with an increase of X% against the previous year. Import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 an increase of X%. The level of import peaked at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Kuwait ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform