GCC: Market for Wiring sets used in vehicles, aircraft or ships 2024

Market Size for Wiring sets used in vehicles, aircraft or ships in GCC

The GCC market for wiring sets used in vehicles, aircraft or ships expanded slightly to $X in 2022, with an increase of 4.4% against the previous year. Overall, consumption continues to indicate strong growth. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Production of Wiring sets used in vehicles, aircraft or ships in GCC

In value terms, production of wiring sets used in vehicles, aircraft or ships rose significantly to $X in 2022 estimated in export price. Over the period under review, production saw a strong expansion. The pace of growth appeared the most rapid in 2018 with an increase of 43%. Over the period under review, production of attained the peak level in 2022 and is likely to see steady growth in years to come.

Exports of Wiring sets used in vehicles, aircraft or ships

Exports in GCC

In 2022, exports of wiring sets used in vehicles, aircraft or ships in GCC declined to X tons, reducing by -5% compared with 2021 figures. In general, exports, however, recorded a resilient increase. The growth pace was the most rapid in 2016 with an increase of 74% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of wiring sets used in vehicles, aircraft or ships shrank to $X in 2022. Total exports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +5.7% against 2020 indices. The pace of growth was the most pronounced in 2019 with an increase of 46%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

The shipments of the one major exporters of wiring sets used in vehicles, aircraft or ships, namely the United Arab Emirates, represented more than two-thirds of total export.

The United Arab Emirates was also the fastest-growing in terms of the wiring sets used in vehicles, aircraft or ships exports, with a CAGR of +6.9% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest wiring sets used in vehicles, aircraft or ships supplier in GCC.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled +4.5%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, approximately reflecting the previous year. In general, the export price saw a pronounced decrease. The growth pace was the most rapid in 2017 an increase of 23%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to -2.3% per year.

Imports of Wiring sets used in vehicles, aircraft or ships

Imports in GCC

In 2022, imports of wiring sets used in vehicles, aircraft or ships in GCC shrank dramatically to X tons, declining by -51.7% on the previous year's figure. In general, imports recorded a abrupt decrease. The pace of growth was the most pronounced in 2017 when imports increased by 44%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of wiring sets used in vehicles, aircraft or ships dropped significantly to $X in 2022. Overall, imports recorded a mild contraction. The pace of growth appeared the most rapid in 2021 with an increase of 41%. Over the period under review, imports of reached the maximum at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X tons) represented the largest importer of wiring sets used in vehicles, aircraft or ships, generating 77% of total imports. Oman (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (4.5%). The following importers - Kuwait (X tons) and Bahrain (X tons) - each resulted at a 5.3% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to wiring sets used in vehicles, aircraft or ships imports into the United Arab Emirates stood at +1.1%. At the same time, Qatar (+7.5%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +7.5% from 2012-2022. By contrast, Kuwait (-7.2%), Oman (-9.1%) and Bahrain (-11.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates and Qatar increased by +52 and +3.7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported wiring sets used in vehicles, aircraft or ships in GCC, comprising 78% of total imports. The second position in the ranking was taken by Oman ($X), with a 10% share of total imports. It was followed by Qatar, with a 5.4% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates stood at +5.0%. In the other countries, the average annual rates were as follows: Oman (-1.3% per year) and Qatar (+12.2% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, with an increase of 29% against the previous year. In general, the import price posted a resilient increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+11.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform