Jordan: Vehicle Seat Market 2024

Vehicle Seat Market Size in Jordan

In 2022, the Jordanian vehicle seat market increased by 227% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, showed a deep contraction. Vehicle seat consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Vehicle Seat Exports

Exports from Jordan

In 2022, overseas shipments of seats for motor vehicles decreased by -4.6% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2018 when exports increased by 70% against the previous year. The exports peaked at X units in 2021, and then declined slightly in the following year.

In value terms, vehicle seat exports dropped to $X in 2022. Overall, exports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 70%. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

Free Zones (X units) was the main destination for vehicle seat exports from Jordan, with a 71% share of total exports. Moreover, vehicle seat exports to Free Zones exceeded the volume sent to the second major destination, Sudan (X units), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Free Zones amounted to +23.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sudan (-7.6% per year) and the United States (+7.6% per year).

In value terms, Free Zones ($X) remains the key foreign market for seats for motor vehicles exports from Jordan, comprising 76% of total exports. The second position in the ranking was held by Sudan ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Free Zones stood at +29.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sudan (-5.5% per year) and the United States (+6.7% per year).

Export Prices by Country

In 2022, the average vehicle seat export price amounted to $X per unit, standing approx. at the previous year. Over the period under review, export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vehicle seat export price increased by +25.6% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 38% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Free Zones ($X per unit), while the average price for exports to Sudan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Free Zones (+4.3%), while the prices for the other major destinations experienced mixed trend patterns.

Vehicle Seat Imports

Imports into Jordan

In 2022, imports of seats for motor vehicles into Jordan skyrocketed to X units, growing by 234% against 2021 figures. In general, imports, however, showed a deep contraction. The pace of growth was the most pronounced in 2016 with an increase of 490%. Over the period under review, imports attained the maximum at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, vehicle seat imports expanded significantly to $X in 2022. Over the period under review, imports, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 when imports increased by 600% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Turkey (X units), South Korea (X units) and Germany (X units) were the main suppliers of vehicle seat imports to Jordan, with a combined 48% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +39.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Turkey ($X) and Japan ($X) constituted the largest vehicle seat suppliers to Jordan, with a combined 73% share of total imports.

South Korea, with a CAGR of +42.4%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average vehicle seat import price amounted to $X per unit, with a decrease of -67.3% against the previous year. Over the period under review, the import price continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2021 an increase of 119%. As a result, import price attained the peak level of $X per unit, and then reduced rapidly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform