GCC: Market for Upholstered Seats With Wooden Frames 2024

Market Size for Upholstered Seats With Wooden Frames in GCC

In 2022, after two years of growth, there was significant decline in the GCC wooden frame upholstered seat market, when its value decreased by -6% to $X. The market value increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2021, and then fell in the following year.

Production of Upholstered Seats With Wooden Frames in GCC

In value terms, wooden frame upholstered seat production amounted to $X in 2022 estimated in export price. The total production indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.7% against 2018 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 68% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Upholstered Seats With Wooden Frames

Exports in GCC

In 2022, overseas shipments of upholstered seats with wooden frames increased by 60% to X units, rising for the second year in a row after three years of decline. Over the period under review, exports enjoyed a prominent increase. The growth pace was the most rapid in 2017 when exports increased by 102% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, wooden frame upholstered seat exports surged to $X in 2022. In general, exports saw a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates dominates exports structure, accounting for X units, which was approx. 84% of total exports in 2022. It was distantly followed by Saudi Arabia (X units), mixing up a 6.2% share of total exports. The following exporters - Kuwait (X units), Oman (X units) and Bahrain (X units) - each resulted at a 9.5% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to wooden frame upholstered seat exports from the United Arab Emirates stood at +17.6%. At the same time, Kuwait (+23.8%), Oman (+21.0%) and Bahrain (+18.5%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of +23.8% from 2012-2022. Saudi Arabia experienced a relatively flat trend pattern. The United Arab Emirates (+16 p.p.) and Kuwait (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by -19.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest wooden frame upholstered seat supplier in GCC, comprising 82% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with an 8.8% share of total exports. It was followed by Kuwait, with a 3.6% share.

In the United Arab Emirates, wooden frame upholstered seat exports expanded at an average annual rate of +15.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (-0.3% per year) and Kuwait (+22.9% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, increasing by 18% against the previous year. In general, the export price, however, continues to indicate a pronounced contraction. The growth pace was the most rapid in 2016 an increase of 31%. Over the period under review, the export prices attained the peak figure at $X per unit 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 Saudi Arabia ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+1.4%), while the other leaders experienced a decline in the export price figures.

Imports of Upholstered Seats With Wooden Frames

Imports in GCC

In 2022, approx. X units of upholstered seats with wooden frames were imported in GCC; falling by -19.3% on the year before. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +41.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 76%. As a result, imports attained the peak of X units, and then contracted markedly in the following year.

In value terms, wooden frame upholstered seat imports declined to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +49.8% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 46% against the previous year. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

The United Arab Emirates represented the main importer of upholstered seats with wooden frames in GCC, with the volume of imports resulting at X units, which was near 54% of total imports in 2022. It was distantly followed by Qatar (X units), Kuwait (X units) and Oman (X units), together mixing up a 42% share of total imports. Bahrain (X units) followed a long way behind the leaders.

Imports into the United Arab Emirates increased at an average annual rate of +6.0% from 2012 to 2022. At the same time, Oman (+10.8%), Kuwait (+5.7%) and Qatar (+3.7%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +10.8% from 2012-2022. By contrast, Bahrain (-5.0%) illustrated a downward trend over the same period. The United Arab Emirates (+4.9 p.p.) and Oman (+3 p.p.) significantly strengthened its position in terms of the total imports, while Qatar and Bahrain saw its share reduced by -2.7% and -6.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported upholstered seats with wooden frames in GCC, comprising 31% of total imports. The second position in the ranking was taken by Qatar ($X), with a 14% share of total imports. It was followed by Kuwait, with a 7.7% share.

In the United Arab Emirates, wooden frame upholstered seat imports increased at an average annual rate of +6.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (+7.4% per year) and Kuwait (+5.2% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, increasing by 11% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 39% against the previous year. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Qatar ($X per unit) and Bahrain ($X per unit), while Oman ($X per unit) and Kuwait ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform