Kuwait: Market for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles 2024

Market Size for Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles in Kuwait

The Kuwaiti market for electrical lighting or visual signaling equipment for motor vehicles and cycles dropped to $X in 2022, which is down by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a perceptible decrease. Lighting equipment for motor vehicles consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Exports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Exports from Kuwait

Lighting equipment for motor vehicles exports from Kuwait declined rapidly to X units in 2022, dropping by X% on 2021. In general, exports showed a significant contraction. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, lighting equipment for motor vehicles exports dropped notably to $X in 2022. Over the period under review, exports recorded a abrupt descent. The growth pace was the most rapid in 2018 with an increase of X%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X units), Iraq (X units) and Australia (X units) were the main destinations of lighting equipment for motor vehicles exports from Kuwait, together accounting for X% of total exports. The United Arab Emirates, Qatar, Sri Lanka, the UK, Saudi Arabia, Jordan, Bahrain, Singapore and the Netherlands lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Sri Lanka (with a CAGR of X.0%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for lighting equipment for motor vehicles exported from Kuwait were Australia ($X), the United Arab Emirates ($X) and Hong Kong SAR ($X), with a combined X% share of total exports. Iraq, Jordan, Sri Lanka, the UK, Saudi Arabia, Qatar, Singapore, Bahrain and the Netherlands lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Sri Lanka, with a CAGR of X.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for electrical lighting or visual signaling equipment for motor vehicles and cycles amounted to $X per unit, with an increase of X% against the previous year. Overall, the export price showed prominent growth. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Bahrain ($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 Qatar (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles

Imports into Kuwait

In 2022, the amount of electrical lighting or visual signaling equipment for motor vehicles and cycles imported into Kuwait shrank significantly to X units, dropping by X% on the previous year's figure. In general, imports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, lighting equipment for motor vehicles imports dropped to $X in 2022. Overall, imports continue to indicate a pronounced downturn. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of lighting equipment for motor vehicles to Kuwait, with a X% share of total imports. Moreover, lighting equipment for motor vehicles imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), fivefold. The third position in this ranking was held by Japan (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and Japan (X% per year).

In value terms, the largest lighting equipment for motor vehicles suppliers to Kuwait were the United Arab Emirates ($X), China ($X) and Japan ($X), together accounting for X% of total imports. Taiwan (Chinese), Germany, the United States, India and South Korea lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, 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 import price for electrical lighting or visual signaling equipment for motor vehicles and cycles amounted to $X per unit, picking up by X% against the previous year. In general, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lighting equipment for motor vehicles import price decreased by X% against 2020 indices. The growth pace was the most rapid in 2013 an increase of X%. Over the period under review, average import prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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 the United States ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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