GCC: Optical Fiber Cables Market 2024

Optical Fiber Cables Market Size in GCC

The GCC optical fiber cables market declined sharply to $X in 2022, falling by -20.8% against the previous year. The total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +37.3% against 2020 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Optical Fiber Cables Production in GCC

In value terms, optical fiber cables production declined to $X in 2022 estimated in export price. In general, production, however, continues to indicate a resilient increase. The growth pace was the most rapid in 2017 with an increase of 806% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Optical Fiber Cables Exports

Exports in GCC

In 2022, overseas shipments of optical fiber cables were finally on the rise to reach X tons after three years of decline. Over the period under review, exports posted a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 343% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, optical fiber cables exports skyrocketed to $X in 2022. Overall, exports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2017 when exports increased by 301% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia was the largest exporting country with an export of around X tons, which amounted to 73% of total exports. The United Arab Emirates (X tons) took a 14% share (based on physical terms) of total exports, which put it in second place, followed by Oman (13%).

Saudi Arabia was also the fastest-growing in terms of the optical fiber cables exports, with a CAGR of +18.2% from 2012 to 2022. At the same time, Oman (+4.5%) and the United Arab Emirates (+3.8%) displayed positive paces of growth. From 2012 to 2022, the share of Saudi Arabia increased by +30 percentage points.

In value terms, Saudi Arabia ($X) remains the largest optical fiber cables supplier in GCC, comprising 63% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 21% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia stood at +15.3%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+3.9% per year) and Oman (+3.6% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, declining by -4.9% against the previous year. In general, the export price saw a perceptible decline. The pace of growth was the most pronounced in 2013 an increase of 14% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat 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 ($X per ton), while Saudi Arabia ($X per ton) 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 (+0.1%), while the other leaders experienced a decline in the export price figures.

Optical Fiber Cables Imports

Imports in GCC

In 2022, imports of optical fiber cables in GCC contracted to X tons, dropping by -11.3% on 2021. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 34%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, optical fiber cables imports shrank to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 36% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates was the major importing country with an import of about X tons, which reached 43% of total imports. Saudi Arabia (X tons) took a 24% share (based on physical terms) of total imports, which put it in second place, followed by Oman (12%), Bahrain (11%) and Qatar (7.4%). Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of +10.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest optical fiber cables importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Qatar ($X), together accounting for 85% of total imports. These countries were followed by Oman, Bahrain and Kuwait, which together accounted for a further 15%.

Bahrain, with a CAGR of +7.4%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, leveling off at the previous year. Overall, the import price recorded a mild slump. The most prominent rate of growth was recorded in 2019 when the import price increased by 18%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, 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 Qatar ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+1.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform