GCC: Trailer And Semi-Trailer Market 2024

Trailer And Semi-Trailer Market Size in GCC

In 2022, the GCC trailer and semi-trailer market decreased by -0.9% to $X, falling for the second consecutive year after two years of growth. In general, consumption, however, showed resilient growth. Over the period under review, the market reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Trailer And Semi-Trailer Production in GCC

In value terms, trailer and semi-trailer production rose to $X in 2022 estimated in export price. Over the period under review, production, however, recorded resilient growth. The pace of growth appeared the most rapid in 2019 with an increase of 74%. Over the period under review, production attained the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Trailer And Semi-Trailer Exports

Exports in GCC

In 2022, overseas shipments of cargo trailers and semi-trailers were finally on the rise to reach X units after three years of decline. Over the period under review, exports continue to indicate a temperate expansion. The growth pace was the most rapid in 2013 with an increase of 86% against the previous year. The volume of export peaked at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, trailer and semi-trailer exports fell to $X in 2022. Overall, exports showed a noticeable increase. The pace of growth appeared the most rapid in 2013 with an increase of 123% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates dominates exports structure, reaching X units, which was near 88% of total exports in 2022. The following exporters - Oman (X units), Kuwait (X units) and Saudi Arabia (X units) - together made up 11% of total exports.

The United Arab Emirates was also the fastest-growing in terms of the cargo trailers and semi-trailers exports, with a CAGR of +5.8% from 2012 to 2022. At the same time, Kuwait (+4.3%) and Oman (+4.0%) displayed positive paces of growth. By contrast, Saudi Arabia (-12.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates increased by +18 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest trailer and semi-trailer supplier in GCC, comprising 75% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 17% share of total exports. It was followed by Oman, with a 3.6% share.

In the United Arab Emirates, trailer and semi-trailer exports increased at an average annual rate of +6.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (+1.8% per year) and Oman (-9.0% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, which is down by -40.7% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the export price increased by 43%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+16.2%), while the other leaders experienced mixed trends in the export price figures.

Trailer And Semi-Trailer Imports

Imports in GCC

Trailer and semi-trailer imports expanded modestly to X units in 2022, with an increase of 2.1% on the previous year's figure. In general, imports, however, showed a drastic downturn. The pace of growth appeared the most rapid in 2015 with an increase of 64% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, trailer and semi-trailer imports expanded notably to $X in 2022. Overall, imports, however, saw a pronounced decrease. The pace of growth appeared the most rapid in 2015 when imports increased by 38%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X units) and Oman (X units) represented the key importers of cargo trailers and semi-trailers in 2022, recording approx. 39% and 35% of total imports, respectively. It was distantly followed by Kuwait (X units), achieving a 21% share of total imports. Qatar (X units) and Bahrain (X units) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +0.0%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest trailer and semi-trailer importing markets in GCC were the United Arab Emirates ($X), Oman ($X) and Kuwait ($X), together accounting for 46% of total imports.

Among the main importing countries, Kuwait, with a CAGR of +2.3%, 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

The import price in GCC stood at $X per unit in 2022, surging by 3% against the previous year. Overall, the import price enjoyed a strong expansion. The growth pace was the most rapid in 2019 an increase of 80%. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+23.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform