GCC: Market for Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) 2025

Market Size for Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) in GCC

In 2021, the GCC market for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) decreased by less than 0.1% to $X, falling for the second year in a row after three years of growth. The total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.9% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) in GCC

In value terms, LCD or LED indicator panel production expanded rapidly to $X in 2021 estimated in export price. The total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -7.0% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 53% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD)

Exports in GCC

In 2021, overseas shipments of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) decreased by -22.6% to X units, falling for the second year in a row after three years of growth. Overall, exports recorded a deep downturn. The pace of growth appeared the most rapid in 2015 when exports increased by 318% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, LCD or LED indicator panel exports skyrocketed to $X in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates dominates exports structure, amounting to X units, which was near 91% of total exports in 2021. It was distantly followed by Bahrain (X units), creating a 4.6% share of total exports. Oman (X units) and Saudi Arabia (X units) followed a long way behind the leaders.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD). At the same time, Oman (+39.7%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +39.7% from 2012-2021. By contrast, Bahrain (-5.4%) and Saudi Arabia (-31.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates and Oman increased by +32 and +2.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest LCD or LED indicator panel supplier in GCC, comprising 97% of total exports. The second position in the ranking was held by Oman ($X), with a 1.6% share of total exports. It was followed by Saudi Arabia, with a 0.6% share.

In the United Arab Emirates, LCD or LED indicator panel exports increased at an average annual rate of +8.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (+42.2% per year) and Saudi Arabia (-29.6% per year).

Export Prices by Country

In 2021, the export price in GCC amounted to $X per unit, surging by 90% against the previous year. In general, the export price showed a prominent increase. The pace of growth appeared the most rapid in 2016 an increase of 538% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was the United Arab Emirates ($X per unit), while Bahrain ($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 (+9.7%), while the other leaders experienced more modest paces of growth.

Imports of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD)

Imports in GCC

LCD or LED indicator panel imports contracted to X units in 2021, waning by -10.6% against 2020. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 79% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, LCD or LED indicator panel imports declined dramatically to $X in 2021. Overall, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 49%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X units) was the key importer of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD), comprising 39% of total imports. Oman (X units) ranks second in terms of the total imports with a 24% share, followed by Qatar (23%) and Kuwait (12%).

From 2012 to 2021, the biggest increases were in Qatar (with a CAGR of +18.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) in GCC, comprising 57% of total imports. The second position in the ranking was held by Qatar ($X), with an 11% share of total imports. It was followed by Kuwait, with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates stood at +5.3%. In the other countries, the average annual rates were as follows: Qatar (+11.5% per year) and Kuwait (-4.9% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2021, with a decrease of -10.3% against the previous year. Over the period under review, the import price, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2015 an increase of 85% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per unit), while Oman ($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 (+15.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform