GCC: Market for Upholstered Seats With Metal Frames 2024

Market Size for Upholstered Seats With Metal Frames in GCC

For the third consecutive year, the GCC metal frame upholstered seat market recorded growth in sales value, which increased by 13% to $X in 2021. The total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +20.1% against 2017 indices. Over the period under review, the market reached the maximum level in 2021 and is likely to see steady growth in the immediate term.

Production of Upholstered Seats With Metal Frames in GCC

In value terms, metal frame upholstered seat production reduced to $X in 2021 estimated in export price. The total production indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -21.0% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of 73% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Exports of Upholstered Seats With Metal Frames

Exports in GCC

In 2021, shipments abroad of upholstered seats with metal frames increased by 65% to X units, rising for the third year in a row after two years of decline. Over the period under review, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2019 when exports increased by 99%. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, metal frame upholstered seat exports rose slightly to $X in 2021. Overall, exports showed a buoyant expansion. The pace of growth was the most pronounced in 2013 with an increase of 101% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Oman (X units) and the United Arab Emirates (X units) prevails in exports structure, together making up 94% of total exports. It was distantly followed by Saudi Arabia (X units), achieving a 5% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Oman (with a CAGR of +110.8%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the United Arab Emirates ($X) remains the largest metal frame upholstered seat supplier in GCC, comprising 84% of total exports. The second position in the ranking was held by Oman ($X), with a 7% share of total exports.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates stood at +9.2%. In the other countries, the average annual rates were as follows: Oman (+41.1% per year) and Saudi Arabia (+21.8% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2021, declining by -37.6% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 173%. The level of export peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.2%), while the other leaders experienced a decline in the export price figures.

Imports of Upholstered Seats With Metal Frames

Imports in GCC

In 2021, metal frame upholstered seat imports in GCC surged to X units, growing by 68% compared with 2020. In general, imports enjoyed prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, metal frame upholstered seat imports skyrocketed to $X in 2021. Overall, imports enjoyed a mild increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates represented the key importer of upholstered seats with metal frames in GCC, with the volume of imports resulting at X units, which was near 70% of total imports in 2021. Kuwait (X units) ranks second in terms of the total imports with a 12% share, followed by Oman (8.4%), Qatar (4.9%) and Bahrain (4.9%).

From 2012 to 2021, average annual rates of growth with regard to metal frame upholstered seat imports into the United Arab Emirates stood at +4.2%. At the same time, Qatar (+21.6%), Oman (+19.7%), Bahrain (+17.1%) and Kuwait (+7.6%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +21.6% from 2012-2021. From 2012 to 2021, the share of Oman, Qatar and Bahrain increased by +5.5, +3.5 and +2.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported upholstered seats with metal frames in GCC, comprising 64% of total imports. The second position in the ranking was taken by Kuwait ($X), with an 8.3% share of total imports. It was followed by Bahrain, with a 5.8% share.

In the United Arab Emirates, metal frame upholstered seat imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Kuwait (+7.9% per year) and Bahrain (+13.0% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2021, with a decrease of -12.2% against the previous year. Overall, the import price continues to indicate a perceptible decline. The growth pace was the most rapid in 2016 when the import price increased by 24%. Over the period under review, import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, 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 Bahrain ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform