GCC: Accumulator Market 2024

Accumulator Market Size in GCC

The GCC accumulator market amounted to $X in 2022, therefore, remained relatively stable against the previous year. Overall, consumption saw prominent growth. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Accumulator Production in GCC

In value terms, accumulator production rose to $X in 2022 estimated in export price. Over the period under review, production saw a buoyant expansion. The most prominent rate of growth was recorded in 2015 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Accumulator Exports

Exports in GCC

In 2022, exports of electric accumulators in GCC skyrocketed to X units, rising by X% compared with 2021. Overall, exports continue to indicate a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, accumulator exports skyrocketed to $X in 2022. In general, exports saw a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates dominates exports structure, resulting at X units, which was near X% of total exports in 2022. Saudi Arabia (X units) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the electric accumulators exports, with a CAGR of X% from 2012 to 2022. Saudi Arabia (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) remains the largest accumulator supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total exports.

In the United Arab Emirates, accumulator exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, dropping by X% against the previous year. In general, the export price showed a drastic downturn. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while the United Arab Emirates amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%).

Accumulator Imports

Imports in GCC

In 2022, accumulator imports in GCC dropped to X units, waning by X% compared with 2021. Total imports indicated a moderate expansion from 2012 to 2022: its volume 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of X%. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, accumulator imports fell to $X in 2022. Total imports indicated a strong increase from 2012 to 2022: its value 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

The United Arab Emirates prevails in imports structure, finishing at X units, which was approx. X% of total imports in 2022. Kuwait (X units), Qatar (X units), Oman (X units) and Bahrain (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to accumulator imports into the United Arab Emirates stood at X%. At the same time, Qatar (X%), Bahrain (X%), Oman (X%) and Kuwait (X%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. Qatar (X p.p.) and Kuwait (X p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported electric accumulators in GCC, comprising X% of total imports. The second position in the ranking was held by Kuwait ($X), with a X% share of total imports. It was followed by Oman, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (X% per year) and Oman (X% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, which is down by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2013 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the import prices remained at a 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 Oman ($X per unit), while the United Arab Emirates ($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 import price figures.

Source: IndexBox Platform