GCC: Glass Electrical Insulator Market 2024

Glass Electrical Insulator Market Size in GCC

The GCC glass electrical insulator market was finally on the rise to reach $X in 2021, after five years of decline. In general, consumption, however, showed a mild curtailment. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Glass Electrical Insulator Production in GCC

In value terms, glass electrical insulator production reached $X in 2021 estimated in export price. Overall, production, however, continues to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2014 when the production volume increased by 71% against the previous year. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Glass Electrical Insulator Exports

Exports in GCC

In 2021, the amount of glass electrical insulators exported in GCC reduced remarkably to X units, waning by -69.7% against 2020. Over the period under review, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 when exports increased by 258%. The volume of export peaked at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, glass electrical insulator exports reduced rapidly to $X in 2021. In general, exports faced a abrupt descent. The growth pace was the most rapid in 2017 when exports increased by 208%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates was the main exporter of glass electrical insulators in GCC, with the volume of exports recording X units, which was near 72% of total exports in 2021. Oman (X units) ranks second in terms of the total exports with a 15% share, followed by Bahrain (11%). Saudi Arabia (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to glass electrical insulator exports from the United Arab Emirates stood at -6.1%. At the same time, Bahrain (+3.8%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in GCC, with a CAGR of +3.8% from 2012-2021. By contrast, Saudi Arabia (-14.5%) and Oman (-17.9%) illustrated a downward trend over the same period. The United Arab Emirates (+17 p.p.) and Bahrain (+7.4 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia and Oman saw its share reduced by -1.7% and -22.9% from 2012 to 2021, respectively.

In value terms, the United Arab Emirates ($X) remains the largest glass electrical insulator supplier in GCC, comprising 56% of total exports. The second position in the ranking was held by Oman ($X), with a 23% share of total exports. It was followed by Saudi Arabia, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates stood at -6.0%. In the other countries, the average annual rates were as follows: Oman (-20.9% per year) and Saudi Arabia (+10.1% per year).

Export Prices by Country

In 2021, the export price in GCC amounted to $X per unit, growing by 103% against the previous year. In general, the export price, however, showed a perceptible decrease. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+28.9%), while the other leaders experienced mixed trends in the export price figures.

Glass Electrical Insulator Imports

Imports in GCC

Glass electrical insulator imports skyrocketed to X units in 2021, with an increase of 48% compared with the year before. Total imports indicated a moderate expansion from 2012 to 2021: its volume increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +77.0% against 2017 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 58% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, glass electrical insulator imports soared to $X in 2021. Over the period under review, imports saw resilient growth. The most prominent rate of growth was recorded in 2019 when imports increased by 1,087% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, the United Arab Emirates (X units) was the major importer of glass electrical insulators, achieving 68% of total imports. It was distantly followed by Qatar (X units), creating a 26% share of total imports. Oman (X units) held a relatively small share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of +6.6% from 2012 to 2021. At the same time, Qatar (+44.2%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +44.2% from 2012-2021. By contrast, Oman (-8.1%) illustrated a downward trend over the same period. While the share of Qatar (+25 p.p.) and the United Arab Emirates (+12 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Oman (-9.2 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported glass electrical insulators in GCC, comprising 2.3% of total imports. The second position in the ranking was taken by Qatar ($X), with a 0.8% share of total imports.

In the United Arab Emirates, glass electrical insulator imports expanded at an average annual rate of +5.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (+19.8% per year) and Oman (-8.8% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per unit, with an increase of 44% against the previous year. In general, the import price saw a prominent expansion. The pace of growth appeared the most rapid in 2019 an increase of 1,294%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Oman ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (-0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform