GCC: Bed-Convertible Seat Market 2024

Bed-Convertible Seat Market Size in GCC

In 2021, the GCC bed-convertible seat market increased by 12% to $X for the first time since 2018, thus ending a two-year declining trend. The total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Bed-Convertible Seat Production in GCC

In value terms, bed-convertible seat production shrank to $X in 2021 estimated in export price. Over the period under review, production continues to indicate measured growth. The growth pace was the most rapid in 2018 when the production volume increased by 70%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Bed-Convertible Seat Exports

Exports in GCC

For the third year in a row, GCC recorded growth in overseas shipments of seats convertible into beds, which increased by 25% to X units in 2021. Overall, exports posted a strong expansion. The growth pace was the most rapid in 2017 with an increase of 152%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, bed-convertible seat exports expanded to $X in 2021. In general, exports enjoyed a strong increase. The pace of growth appeared the most rapid in 2017 when exports increased by 355%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, reaching X units, which was approx. 92% of total exports in 2021. It was distantly followed by Oman (X units), making up a 6.1% share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of +5.2% from 2012 to 2021. At the same time, Oman (+13.6%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +13.6% from 2012-2021. Oman (+3 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest bed-convertible seat supplier in GCC, comprising 87% of total exports. The second position in the ranking was taken by Oman ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates stood at +8.6%.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per unit, dropping by -16.1% against the previous year. Export price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, bed-convertible seat export price decreased by -37.4% against 2017 indices. The most prominent rate of growth was recorded in 2017 an increase of 80% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+8.5%).

Bed-Convertible Seat Imports

Imports in GCC

After two years of decline, overseas purchases of seats convertible into beds increased by 83% to X units in 2021. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +8.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, bed-convertible seat imports soared to $X in 2021. Total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +9.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Qatar (X units) and the United Arab Emirates (X units) prevails in imports structure, together creating 85% of total imports. It was distantly followed by Oman (X units) and Kuwait (X units), together achieving a 12% share of total imports. Bahrain (X units) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Oman (with a CAGR of +49.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported seats convertible into beds in GCC, comprising 39% of total imports. The second position in the ranking was taken by Qatar ($X), with a 12% share of total imports. It was followed by Oman, with an 8% share.

In the United Arab Emirates, bed-convertible seat imports expanded at an average annual rate of +6.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (-2.2% per year) and Oman (+52.6% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per unit, reducing by -9.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2019 an increase of 27%. The level of import peaked at $X per unit in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 Bahrain (+7.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform