GCC: Vehicle Seat Market 2024

Vehicle Seat Market Size in GCC

The GCC vehicle seat market contracted slightly to $X in 2022, waning by -1.7% against the previous year. In general, consumption continues to indicate a resilient expansion. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Vehicle Seat Production in GCC

In value terms, vehicle seat production fell modestly to $X in 2022 estimated in export price. Overall, production showed a buoyant expansion. The growth pace was the most rapid in 2016 when the production volume increased by 164%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Vehicle Seat Exports

Exports in GCC

In 2022, exports of seats for motor vehicles in GCC fell dramatically to X units, with a decrease of -43.4% compared with the year before. In general, exports saw a pronounced shrinkage. The pace of growth appeared the most rapid in 2021 when exports increased by 73% against the previous year. As a result, the exports attained the peak of X units, and then plummeted in the following year.

In value terms, vehicle seat exports reduced rapidly to $X in 2022. Overall, exports continue to indicate a perceptible setback. The pace of growth appeared the most rapid in 2021 when exports increased by 121%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates dominates exports structure, recording X units, which was approx. 97% of total exports in 2022. Saudi Arabia (X units) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to vehicle seat exports from the United Arab Emirates stood at -3.3%. Saudi Arabia (-3.2%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest vehicle seat supplier in GCC, comprising 96% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 1.2% share of total exports.

In the United Arab Emirates, vehicle seat exports declined by an average annual rate of -4.8% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, rising by 28% against the previous year. Over the period under review, the export price, however, showed a mild contraction. The pace of growth was the most pronounced in 2018 when the export price increased by 28% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Saudi Arabia stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-1.5%).

Vehicle Seat Imports

Imports in GCC

In 2022, after three years of growth, there was significant decline in supplies from abroad of seats for motor vehicles, when their volume decreased by -20.9% to X units. In general, imports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of 150% against the previous year. As a result, imports attained the peak of X units, and then dropped rapidly in the following year.

In value terms, vehicle seat imports declined rapidly to $X in 2022. Over the period under review, imports, however, showed a modest increase. The pace of growth appeared the most rapid in 2021 with an increase of 141%. As a result, imports attained the peak of $X, and then declined notably in the following year.

Imports by Country

The United Arab Emirates prevails in imports structure, finishing at X units, which was near 93% of total imports in 2022. The following importers - Bahrain (X units), Qatar (X units) and Kuwait (X units) - together made up 6.3% of total imports.

From 2012 to 2022, average annual rates of growth with regard to vehicle seat imports into the United Arab Emirates stood at +9.9%. At the same time, Bahrain (+18.3%), Qatar (+13.1%) and Kuwait (+7.7%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of +18.3% from 2012-2022. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported seats for motor vehicles in GCC, comprising 82% of total imports. The second position in the ranking was held by Qatar ($X), with a 6% share of total imports. It was followed by Kuwait, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates totaled +7.9%. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (+12.9% per year) and Kuwait (+15.9% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, shrinking by -12.6% against the previous year. Overall, the import price saw a abrupt slump. The growth pace was the most rapid in 2017 when the import price increased by 68% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+7.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform