GCC: Road Wheel Market 2025

Road Wheel Market Size in GCC

The GCC road wheel market dropped modestly to $X in 2022, remaining constant against the previous year. Overall, consumption, however, showed a slight shrinkage. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Road Wheel Production in GCC

In value terms, road wheel production declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 with an increase of 35%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Road Wheel Exports

Exports in GCC

For the third year in a row, GCC recorded decline in shipments abroad of road wheels, which decreased by -6% to X tons in 2022. Over the period under review, exports continue to indicate a noticeable decline. The pace of growth was the most pronounced in 2015 when exports increased by 56% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, road wheel exports declined to $X in 2022. In general, exports recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2015 when exports increased by 33% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates was the largest exporter of road wheels in GCC, with the volume of exports recording X tons, which was approx. 85% of total exports in 2022. It was distantly followed by Oman (X tons), mixing up a 14% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to road wheel exports from the United Arab Emirates stood at -1.9%. At the same time, Oman (+69.7%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +69.7% from 2012-2022. While the share of Oman (+14 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest road wheel supplier in GCC, comprising 76% of total exports. The second position in the ranking was held by Oman ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates totaled -3.7%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, with a decrease of -2.9% against the previous year. Overall, the export price saw a pronounced contraction. The pace of growth was the most pronounced in 2017 when the export price increased by 34%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Oman ($X per ton), while the United Arab Emirates amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+2.5%).

Road Wheel Imports

Imports in GCC

In 2022, the amount of road wheels imported in GCC expanded rapidly to X tons, increasing by 7.6% on 2021 figures. In general, imports, however, continue to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2019 when imports increased by 32%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, road wheel imports reduced modestly to $X in 2022. Overall, imports, however, saw a pronounced curtailment. The pace of growth appeared the most rapid in 2019 when imports increased by 31%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates represented the key importer of road wheels in GCC, with the volume of imports reaching X tons, which was near 61% of total imports in 2022. It was distantly followed by Saudi Arabia (X tons), committing a 33% share of total imports. The following importers - Oman (X tons), Kuwait (X tons) and Qatar (X tons) - each finished at a 5.8% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +20.1%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported road wheels in GCC, comprising 62% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 25% share of total imports. It was followed by Qatar, with a 4.4% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (-6.9% per year) and Qatar (+26.4% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, declining by -10.2% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 25%. As a result, import price reached the peak level of $X per ton, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform