GCC: Inductor Market 2024

Inductor Market Size in GCC

The GCC inductor market shrank to $X in 2022, remaining relatively unchanged against the previous year. In general, consumption, however, continues to indicate a prominent increase. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Inductor Production in GCC

In value terms, inductor production dropped to $X in 2022 estimated in export price. Overall, production, however, showed a strong increase. The pace of growth appeared the most rapid in 2018 with an increase of 176%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Inductor Exports

Exports in GCC

In 2022, inductor exports in GCC shrank to X units, with a decrease of -9.9% against the previous year's figure. In general, exports recorded a deep reduction. The pace of growth was the most pronounced in 2017 with an increase of 122% against the previous year. Over the period under review, the exports attained the maximum at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, inductor exports reduced to $X in 2022. Over the period under review, exports saw a pronounced setback. The pace of growth appeared the most rapid in 2018 with an increase of 68% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X units) and the United Arab Emirates (X units) prevails in exports structure, together comprising 95% of total exports. Oman (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Oman (with a CAGR of +23.9%), while the other leaders experienced a decline in the exports figures.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X) were the countries with the highest levels of exports in 2022, together accounting for 98% of total exports.

Oman, with a CAGR of +19.5%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per thousand units in 2022, waning by -2.9% against the previous year. Export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, inductor export price increased by +33.9% against 2020 indices. The pace of growth was the most pronounced in 2016 an increase of 45% against the previous year. As a result, the export price attained the peak level of $X per thousand units. From 2017 to 2022, the export prices remained at a lower figure.

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 the United Arab Emirates ($X per thousand units), while Saudi Arabia ($X per thousand units) 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 (+7.9%), while the other leaders experienced mixed trends in the export price figures.

Inductor Imports

Imports in GCC

After two years of decline, supplies from abroad of inductors increased by 24% to X units in 2022. Overall, imports recorded a temperate increase. The most prominent rate of growth was recorded in 2019 with an increase of 138% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, inductor imports dropped modestly to $X in 2022. Total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -17.7% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 44% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X units) was the key importer of inductors, making up 69% of total imports. Kuwait (X units) held a 16% share (based on physical terms) of total imports, which put it in second place, followed by Bahrain (9.6%) and Oman (5.3%).

Imports into the United Arab Emirates increased at an average annual rate of +3.2% from 2012 to 2022. At the same time, Bahrain (+21.9%) and Kuwait (+19.2%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of +21.9% from 2012-2022. By contrast, Oman (-6.5%) illustrated a downward trend over the same period. Kuwait (+12 p.p.) and Bahrain (+7.6 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates and Oman saw its share reduced by -8.7% and -10.7% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported inductors in GCC, comprising 32% of total imports. The second position in the ranking was held by Kuwait ($X), with a 3.7% share of total imports. It was followed by Bahrain, with a 2.3% share.

In the United Arab Emirates, inductor imports increased at an average annual rate of +5.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (+10.6% per year) and Bahrain (+15.5% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, reducing by -21.6% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 38% against the previous year. The level of import peaked at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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 the United Arab Emirates ($X per unit), while Kuwait (less than $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 (+2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform