Jordan: Brakes And Servo-Brakes Market 2024

Brakes And Servo-Brakes Market Size in Jordan

After two years of growth, the Jordanian brakes and servo-brakes market decreased by less than 0.1% to $X in 2022. Overall, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +5.7% against 2019 indices. Brakes and servo-brakes consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Brakes And Servo-Brakes Exports

Exports from Jordan

In 2022, overseas shipments of brakes and servo-brakes increased by 468% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports, however, continue to indicate a abrupt shrinkage. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, brakes and servo-brakes exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a noticeable setback. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Free Zones (X tons) was the main destination for brakes and servo-brakes exports from Jordan, accounting for a 86% share of total exports. Moreover, brakes and servo-brakes exports to Free Zones exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), eightfold. Saudi Arabia (X tons) ranked third in terms of total exports with a 2.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Free Zones stood at -10.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+86.3% per year) and Saudi Arabia (+1.9% per year).

In value terms, Free Zones ($X) remains the key foreign market for brakes and servo-brakes exports from Jordan, comprising 86% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with an 11% share of total exports. It was followed by Saudi Arabia, with a 2.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Free Zones stood at -3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+81.8% per year) and Saudi Arabia (+3.5% per year).

Export Prices by Country

In 2022, the average brakes and servo-brakes export price amounted to $X per ton, increasing by 9.2% against the previous year. Overall, the export price continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2020 when the average export price increased by 69%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United Arab Emirates ($X per ton) and Saudi Arabia ($X per ton), while the average price for exports to China ($X per ton) and Free Zones ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+41.2%), while the prices for the other major destinations experienced more modest paces of growth.

Brakes And Servo-Brakes Imports

Imports into Jordan

In 2022, overseas purchases of brakes and servo-brakes were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. In general, total imports indicated a noticeable expansion from 2012 to 2022: its volume 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. The growth pace was the most rapid in 2014 when imports increased by 47%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, brakes and servo-brakes imports shrank slightly to $X in 2022. Overall, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 +10.0% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 33% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Korea (X tons), China (X tons) and Turkey (X tons) were the main suppliers of brakes and servo-brakes imports to Jordan, together accounting for 72% of total imports. Germany, Japan, Poland, India, Greece and Spain lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +21.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest brakes and servo-brakes suppliers to Jordan were South Korea ($X), China ($X) and Germany ($X), with a combined 63% share of total imports. Japan, Turkey, Spain, Poland, India and Greece lagged somewhat behind, together accounting for a further 27%.

Poland, with a CAGR of +26.1%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average brakes and servo-brakes import price stood at $X per ton in 2022, waning by -11% against the previous year. Overall, the import price, however, showed a slight expansion. The most prominent rate of growth was recorded in 2020 an increase of 27%. The import price peaked at $X per ton in 2021, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform