MENA: 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 MENA

In 2022, after six years of growth, there was decline in the MENA's market for electrical lighting or visual signaling equipment for motor vehicles and cycles, when its value decreased by X% to $X. In general, consumption, however, continues to indicate a resilient expansion. The level of consumption peaked at $X in 2021, and then shrank in the following year.

Production of Electrical Lighting Or Visual Signaling Equipment For Motor Vehicles And Cycles in MENA

In value terms, lighting equipment for motor vehicles production stood at $X in 2022 estimated in export price. Overall, production, however, posted buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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

Exports in MENA

In 2022, shipments abroad of electrical lighting or visual signaling equipment for motor vehicles and cycles increased by X% to X units, rising for the second year in a row after three years of decline. In general, exports, however, recorded a mild decrease. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, lighting equipment for motor vehicles exports surged to $X in 2022. Over the period under review, exports posted buoyant growth. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

In 2022, Tunisia (X units) represented the largest exporter of electrical lighting or visual signaling equipment for motor vehicles and cycles, making up X% of total exports. Turkey (X units) ranks second in terms of the total exports with a X% share, followed by the United Arab Emirates (X%) and Morocco (X%).

Tunisia experienced a relatively flat trend pattern with regard to volume of exports of electrical lighting or visual signaling equipment for motor vehicles and cycles. At the same time, the United Arab Emirates (X%) and Morocco (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. By contrast, Turkey (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Tunisia, the United Arab Emirates and Morocco increased by X, X and X percentage points, respectively.

In value terms, the largest lighting equipment for motor vehicles supplying countries in MENA were Turkey ($X), Morocco ($X) and the United Arab Emirates ($X), together accounting for X% of total exports.

In terms of the main exporting countries, Morocco, with a CAGR of X%, saw the highest growth rate of 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 export price in MENA amounted to $X per unit, surging by X% against the previous year. In general, the export price continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2020 when the export price increased by X%. As a result, the export price reached the peak level of $X per unit. From 2021 to 2022, the export prices failed to regain momentum.

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 Morocco ($X per unit), while Tunisia ($X per unit) was amongst the lowest.

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

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

Imports in MENA

In 2022, overseas purchases of electrical lighting or visual signaling equipment for motor vehicles and cycles increased by X% to X units, rising for the second consecutive year after two years of decline. Total imports indicated a modest increase from 2012 to 2022: its volume 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, lighting equipment for motor vehicles imports contracted to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

The United Arab Emirates was the major importer of electrical lighting or visual signaling equipment for motor vehicles and cycles in MENA, with the volume of imports resulting at X units, which was approx. X% of total imports in 2022. Turkey (X units) took the second position in the ranking, distantly followed by Egypt (X units), Iran (X units) and Iraq (X units). All these countries together took near X% share of total imports. Algeria (X units), Israel (X units), Morocco (X units) and Tunisia (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 Morocco (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest lighting equipment for motor vehicles importing markets in MENA were Turkey ($X), the United Arab Emirates ($X) and Israel ($X), with a combined X% share of total imports. Morocco, Algeria, Iraq, Egypt, Iran and Tunisia lagged somewhat behind, together comprising a further X%.

Morocco, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per unit, shrinking by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, import prices reached the maximum at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 Israel ($X per unit), while Iran ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform