GCC: Wooden Bedroom Furniture Market 2024

Wooden Bedroom Furniture Market Size in GCC

After two years of growth, the GCC wooden bedroom furniture market decreased by -7.8% to $X in 2022. In general, consumption, however, saw resilient growth. The level of consumption peaked at $X in 2021, and then declined in the following year.

Wooden Bedroom Furniture Production in GCC

In value terms, wooden bedroom furniture production amounted to $X in 2022 estimated in export price. Overall, production, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 76%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Wooden Bedroom Furniture Exports

Exports in GCC

In 2022, approx. X units of wooden furniture of a kind used in the bedroom were exported in GCC; almost unchanged from the previous year. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 52% against the previous year. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, wooden bedroom furniture exports dropped to $X in 2022. Over the period under review, exports saw a perceptible contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 57% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates represented the largest exporting country with an export of around X units, which recorded 63% of total exports. Oman (X units) took a 28% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (4.9%). Bahrain (X units) and Kuwait (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to wooden bedroom furniture exports from the United Arab Emirates stood at +6.2%. At the same time, Bahrain (+8.2%) and Oman (+7.6%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in GCC, with a CAGR of +8.2% from 2012-2022. Kuwait experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-21.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates, Oman and Bahrain increased by +30, +15 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest wooden bedroom furniture supplier in GCC, comprising 66% of total exports. The second position in the ranking was taken by Oman ($X), with a 22% share of total exports. It was followed by Saudi Arabia, with a 7.3% share.

In the United Arab Emirates, wooden bedroom furniture exports expanded at an average annual rate of +1.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Oman (+1.9% per year) and Saudi Arabia (-17.4% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, dropping by -5% against the previous year. Over the period under review, the export price continues to indicate a slight setback. The growth pace was the most rapid in 2015 when the export price increased by 19%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the export prices remained 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 ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+5.1%), while the other leaders experienced mixed trends in the export price figures.

Wooden Bedroom Furniture Imports

Imports in GCC

In 2022, imports of wooden furniture of a kind used in the bedroom in GCC contracted to X units, which is down by -8.4% against 2021 figures. Total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.0% 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 +41.5% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 54% against the previous year. Over the period under review, imports reached the maximum at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, wooden bedroom furniture imports fell to $X in 2022. In general, imports saw a perceptible contraction. The pace of growth was the most pronounced in 2021 with an increase of 32% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X units) was the main importer of wooden furniture of a kind used in the bedroom, committing 58% of total imports. Kuwait (X units) ranks second in terms of the total imports with a 13% share, followed by Oman (13%) and Qatar (13%). Bahrain (X units) followed a long way behind the leaders.

Imports into the United Arab Emirates increased at an average annual rate of +4.4% from 2012 to 2022. At the same time, Kuwait (+6.1%) and Oman (+5.1%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of +6.1% from 2012-2022. By contrast, Bahrain (-2.0%) and Qatar (-3.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates, Kuwait and Oman increased by +7.4, +3.4 and +2.3 percentage points, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported wooden furniture of a kind used in the bedroom in GCC, comprising 32% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 9% share of total imports. It was followed by Oman, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to +1.1%. In the other countries, the average annual rates were as follows: Kuwait (+4.5% per year) and Oman (+5.7% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, shrinking by -2.1% against the previous year. Overall, the import price saw a deep slump. The most prominent rate of growth was recorded in 2018 an increase of 35%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Bahrain ($X per unit), while Qatar ($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 (+1.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform