MENA: Brakes And Servo-Brakes Market 2024

Brakes And Servo-Brakes Market Size in MENA

In 2021, after four years of growth, there was decline in the MENA's brakes and servo-brakes market, when its value decreased by -4.7% to $X. The market value increased at an average annual rate of +4.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then declined modestly in the following year.

Brakes And Servo-Brakes Production in MENA

In value terms, brakes and servo-brakes production reduced to $X in 2021 estimated in export price. The total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +25.0% against 2015 indices. The pace of growth appeared the most rapid in 2015 with an increase of 26%. Over the period under review, production attained the peak level at $X in 2020, and then contracted in the following year.

Brakes And Servo-Brakes Exports

Exports in MENA

In 2021, overseas shipments of brakes and servo-brakes increased by 51% to X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +3.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, brakes and servo-brakes exports skyrocketed to $X in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Turkey (X tons) represented the largest exporter of brakes and servo-brakes, generating 81% of total exports. It was distantly followed by Oman (X tons), achieving a 16% share of total exports. The United Arab Emirates (X tons) followed a long way behind the leaders.

Exports from Turkey increased at an average annual rate of +5.1% from 2012 to 2021. At the same time, Oman (+6.1%) and the United Arab Emirates (+5.6%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in MENA, with a CAGR of +6.1% from 2012-2021. From 2012 to 2021, the share of Turkey and Oman increased by +8.6 and +2.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest brakes and servo-brakes supplier in MENA, comprising 83% of total exports. The second position in the ranking was held by Oman ($X), with a 9.4% share of total exports.

In Turkey, brakes and servo-brakes exports expanded at an average annual rate of +8.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (+5.2% per year) and the United Arab Emirates (+7.8% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, declining by -16.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. The pace of growth appeared the most rapid in 2019 an increase of 12%. Over the period under review, the export prices hit record highs at $X per ton in 2020, and then fell dramatically in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+2.9%), while the other leaders experienced mixed trends in the export price figures.

Brakes And Servo-Brakes Imports

Imports in MENA

In 2021, imports of brakes and servo-brakes in MENA stood at X tons, rising by 11% against 2020. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by 22% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, brakes and servo-brakes imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Turkey was the largest importer of brakes and servo-brakes in MENA, with the volume of imports reaching X tons, which was approx. 36% of total imports in 2021. The United Arab Emirates (X tons) took the second position in the ranking, distantly followed by Morocco (X tons), Saudi Arabia (X tons), Iran (X tons) and Iraq (X tons). All these countries together took near 44% share of total imports. Algeria (X tons), Israel (X tons), Libya (X tons), Tunisia (X tons) and Oman (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Morocco (with a CAGR of +15.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported brakes and servo-brakes in MENA, comprising 37% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 17% share of total imports. It was followed by Saudi Arabia, with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey amounted to +1.7%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+3.3% per year) and Saudi Arabia (-2.3% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, surging by 4.7% against the previous year. Overall, the import price, however, saw a mild shrinkage. The growth pace was the most rapid in 2013 when the import price increased by 5.8%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Oman ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform