MENA: Market for Road Tractors For Semi-Trailers 2024

Market Size for Road Tractors For Semi-Trailers in MENA

For the fourth year in a row, the MENA's road tractor for semi-trailer market recorded growth in sales value, which increased by 18% to $X in 2021. The market value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in years to come.

Production of Road Tractors For Semi-Trailers in MENA

In value terms, road tractor for semi-trailer production expanded to $X in 2021 estimated in export price. Overall, production saw buoyant growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by 93% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Road Tractors For Semi-Trailers

Exports in MENA

In 2021, overseas shipments of road tractors for semi-trailers decreased by -17.9% to X units, falling for the third consecutive year after two years of growth. Over the period under review, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 155%. As a result, the exports reached the peak of X units. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, road tractor for semi-trailer exports rose to $X in 2021. Overall, exports, however, showed a significant increase. The pace of growth was the most pronounced in 2016 with an increase of 231%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Turkey represented the key exporting country with an export of around X units, which accounted for 48% of total exports. The United Arab Emirates (X units) ranks second in terms of the total exports with a 21% share, followed by Oman (19%). The following exporters - Bahrain (X units), Saudi Arabia (X units) and Algeria (X units) - each accounted for a 5.9% share of total exports.

Turkey was also the fastest-growing in terms of the road tractors for semi-trailers exports, with a CAGR of +22.5% from 2012 to 2021. At the same time, the United Arab Emirates (+20.7%) and Saudi Arabia (+6.4%) displayed positive paces of growth. Oman experienced a relatively flat trend pattern. By contrast, Bahrain (-2.3%) and Algeria (-7.4%) illustrated a downward trend over the same period. While the share of Turkey (+32 p.p.) and the United Arab Emirates (+13 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Bahrain (-3.4 p.p.), Algeria (-5.2 p.p.) and Oman (-19.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest road tractor for semi-trailer supplier in MENA, comprising 94% of total exports. The second position in the ranking was taken by Oman ($X), with a 2.5% share of total exports. It was followed by the United Arab Emirates, with a 2.5% share.

In Turkey, road tractor for semi-trailer exports expanded at an average annual rate of +29.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Oman (+15.7% per year) and the United Arab Emirates (+26.6% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per unit, surging by 25% against the previous year. Overall, the export price continues to indicate a resilient increase. The pace of growth was the most pronounced in 2016 an increase of 260%. The level of export peaked in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per unit), while Algeria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+15.8%), while the other leaders experienced more modest paces of growth.

Imports of Road Tractors For Semi-Trailers

Imports in MENA

In 2021, purchases abroad of road tractors for semi-trailers increased by 49% to X units, rising for the third year in a row after four years of decline. Overall, imports, however, showed a relatively flat trend pattern. The volume of import peaked at X units in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, road tractor for semi-trailer imports soared to $X in 2021. In general, imports, however, saw a slight descent. The pace of growth was the most pronounced in 2014 with an increase of 41%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, the United Arab Emirates (X units), distantly followed by Saudi Arabia (X units), Libya (X units), Egypt (X units), Turkey (X units), Morocco (X units) and Iran (X units) were the key importers of road tractors for semi-trailers, together constituting 83% of total imports.

From 2012 to 2021, the biggest increases were recorded for Egypt (with a CAGR of +13.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest road tractor for semi-trailer importing markets in MENA were Turkey ($X), the United Arab Emirates ($X) and Morocco ($X), with a combined 46% share of total imports. These countries were followed by Saudi Arabia, Egypt, Iran and Libya, which together accounted for a further 31%.

Among the main importing countries, Egypt, with a CAGR of +13.4%, 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

In 2021, the import price in MENA amounted to $X per unit, shrinking by -14.3% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 26%. Over the period under review, import prices reached the maximum at $X per unit in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Turkey ($X per unit), while Libya ($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 (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform