MENA: Ignition Magneto Market 2024

Ignition Magneto Market Size in MENA

In 2021, the MENA's ignition magneto market increased by 3.2% to $X, rising for the second year in a row after five years of decline. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Ignition Magneto Production in MENA

In value terms, ignition magneto production shrank slightly to $X in 2021 estimated in export price. In general, production recorded a mild reduction. The most prominent rate of growth was recorded in 2014 with an increase of 10% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Ignition Magneto Exports

Exports in MENA

After two years of decline, overseas shipments of ignition magnetos, magneto-dynamos and magnetic flywheels increased by 154% to X units in 2021. Over the period under review, exports posted a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, ignition magneto exports surged to $X in 2021. In general, exports saw resilient growth. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X units) and Turkey (X units) dominates exports structure, together mixing up 96% of total exports. Saudi Arabia (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Turkey (with a CAGR of +15.2%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) remains the largest ignition magneto supplier in MENA, comprising 68% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 26% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey totaled +12.6%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+4.8% per year) and Saudi Arabia (-8.0% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per unit, surging by 7.5% against the previous year. Overall, the export price, however, recorded a perceptible setback. The growth pace was the most rapid in 2018 when the export price increased by 24% against the previous year. The level of export peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Turkey ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (-2.3%), while the other leaders experienced a decline in the export price figures.

Ignition Magneto Imports

Imports in MENA

In 2021, approx. X units of ignition magnetos, magneto-dynamos and magnetic flywheels were imported in MENA; with an increase of 33% against the previous year's figure. Total imports indicated a pronounced increase from 2012 to 2021: its volume increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +103.5% against 2015 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 49%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, ignition magneto imports surged to $X in 2021. Total imports indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +102.9% against 2018 indices. The growth pace was the most rapid in 2019 with an increase of 69% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in the near future.

Imports by Country

In 2021, Turkey (X units) was the key importer of ignition magnetos, magneto-dynamos and magnetic flywheels, mixing up 44% of total imports. The United Arab Emirates (X units) ranks second in terms of the total imports with a 20% share, followed by Morocco (9.2%) and Iraq (5.6%). Jordan (X units), Iran (X units), Algeria (X units), Djibouti (X units), Oman (X units) and Israel (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to ignition magneto imports into Turkey stood at +4.6%. At the same time, Djibouti (+62.1%), Oman (+34.3%), Jordan (+28.0%), Iraq (+24.2%), Algeria (+11.6%), Morocco (+9.4%) and the United Arab Emirates (+3.2%) displayed positive paces of growth. Moreover, Djibouti emerged as the fastest-growing importer imported in MENA, with a CAGR of +62.1% from 2012-2021. By contrast, Israel (-8.4%) and Iran (-14.5%) illustrated a downward trend over the same period. Turkey (+7.7 p.p.), Iraq (+4.6 p.p.), Morocco (+4.1 p.p.), Jordan (+3.8 p.p.), Djibouti (+2.4 p.p.) and Oman (+2.2 p.p.) significantly strengthened its position in terms of the total imports, while Israel and Iran saw its share reduced by -2.7% and -12.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ignition magneto importing markets in MENA were Turkey ($X), the United Arab Emirates ($X) and Iraq ($X), together accounting for 27% of total imports. Israel, Morocco, Iran, Jordan, Algeria, Oman and Djibouti lagged somewhat behind, together accounting for a further 8.5%.

Among the main importing countries, Djibouti, with a CAGR of +31.9%, saw 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 2021, the import price in MENA amounted to $X per unit, shrinking by -11.1% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 50% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Israel ($X per unit), while Morocco ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+8.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform