MENA: Trailer And Semi-Trailer Market 2024

Trailer And Semi-Trailer Market Size in MENA

The MENA's trailer and semi-trailer market soared to $X in 2022, rising by 72% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Trailer And Semi-Trailer Production in MENA

In value terms, trailer and semi-trailer production fell significantly to $X in 2022 estimated in export price. Overall, production recorded strong growth. The pace of growth appeared the most rapid in 2018 with an increase of 67%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Trailer And Semi-Trailer Exports

Exports in MENA

In 2022, approx. X units of cargo trailers and semi-trailers were exported in MENA; growing by 30% compared with the previous year's figure. Total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +5.0% 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 +52.9% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 40% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, trailer and semi-trailer exports surged to $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +8.8% 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 +63.9% against 2020 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 43%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Turkey was the major exporter of cargo trailers and semi-trailers in MENA, with the volume of exports amounting to X units, which was near 65% of total exports in 2022. Israel (X units) held the second position in the ranking, followed by the United Arab Emirates (X units) and Iran (X units). All these countries together held near 30% share of total exports.

Exports from Turkey increased at an average annual rate of +7.5% from 2012 to 2022. At the same time, Israel (+10.3%) and the United Arab Emirates (+5.8%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in MENA, with a CAGR of +10.3% from 2012-2022. By contrast, Iran (-4.6%) illustrated a downward trend over the same period. Turkey (+14 p.p.) and Israel (+5.2 p.p.) significantly strengthened its position in terms of the total exports, while Iran saw its share reduced by -10.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest trailer and semi-trailer supplier in MENA, comprising 83% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 7.6% share of total exports. It was followed by Israel, with a 3.9% share.

In Turkey, trailer and semi-trailer exports increased at an average annual rate of +11.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+6.1% per year) and Israel (+13.9% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2022, reducing by -7.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.6%. The pace of growth appeared the most rapid in 2014 when the export price increased by 20%. Over the period under review, the export prices hit record highs at $X per unit in 2021, and then declined in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while Iran ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+4.0%), while the other leaders experienced more modest paces of growth.

Trailer And Semi-Trailer Imports

Imports in MENA

In 2022, overseas purchases of cargo trailers and semi-trailers increased by 12% to X units, rising for the second year in a row after three years of decline. In general, imports, however, recorded a noticeable descent. The pace of growth appeared the most rapid in 2015 with an increase of 89% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, trailer and semi-trailer imports stood at $X in 2022. Overall, imports, however, showed a slight downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 30%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X units), Egypt (X units) and Algeria (X units) represented the key importer of cargo trailers and semi-trailers in MENA, committing 62% of total import. The United Arab Emirates (X units) took a 6.2% share (based on physical terms) of total imports, which put it in second place, followed by Oman (5.6%) and Iraq (5.5%). Libya (X units), Kuwait (X units), Morocco (X units), Israel (X units) and Djibouti (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Djibouti (with a CAGR of +9.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest trailer and semi-trailer importing markets in MENA were Turkey ($X), Algeria ($X) and the United Arab Emirates ($X), together accounting for 33% of total imports. Israel, Oman, Morocco, Egypt, Iraq, Kuwait, Libya and Djibouti lagged somewhat behind, together accounting for a further 39%.

In terms of the main importing countries, Israel, with a CAGR of +13.1%, recorded the highest growth rate of 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

The import price in MENA stood at $X per unit in 2022, falling by -5.3% against the previous year. Import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, trailer and semi-trailer import price decreased by -12.2% against 2020 indices. The most prominent rate of growth was recorded in 2019 an increase of 50% against the previous year. The level of import peaked at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+13.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform