MENA: Invalid Carriage Market 2024

Invalid Carriage Market Size in MENA

In 2022, the MENA's invalid carriage market decreased by -0.5% to $X, falling for the third consecutive year after three years of growth. The total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -23.3% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Invalid Carriage Production in MENA

In value terms, invalid carriage production soared to $X in 2022 estimated in export price. Over the period under review, production showed a strong increase. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Invalid Carriage Exports

Exports in MENA

In 2022, after two years of decline, there was growth in overseas shipments of invalid carriages not mechanically propelled, when their volume increased by 4.9% to X units. Over the period under review, exports, however, saw a mild decrease. The growth pace was the most rapid in 2014 when exports increased by 71% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, invalid carriage exports surged to $X in 2022. In general, exports, however, saw a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of 67%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey dominates exports structure, recording X units, which was near 94% of total exports in 2022. The following exporters - Israel (X units) and the United Arab Emirates (X units) - each finished at a 3.3% share of total exports.

Turkey was also the fastest-growing in terms of the invalid carriages not mechanically propelled exports, with a CAGR of +3.6% from 2012 to 2022. The United Arab Emirates (-13.0%) and Israel (-27.2%) illustrated a downward trend over the same period. Turkey (+37 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates and Israel saw its share reduced by -4% and -33.4% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest invalid carriage supplier in MENA, comprising 79% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 7.2% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to +3.6%. In the other countries, the average annual rates were as follows: the United Arab Emirates (-22.3% per year) and Israel (-25.5% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2022, rising by 12% against the previous year. In general, the export price, however, recorded a deep downturn. The pace of growth was the most pronounced in 2015 when the export price increased by 22%. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+2.4%), while the other leaders experienced a decline in the export price figures.

Invalid Carriage Imports

Imports in MENA

In 2022, purchases abroad of invalid carriages not mechanically propelled decreased by -16.2% to X units, falling for the third consecutive year after three years of growth. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 27% against the previous year. The volume of import peaked at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, invalid carriage imports declined to $X in 2022. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 26% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the seven major importers of invalid carriages not mechanically propelled, namely Turkey, Egypt, Iraq, the United Arab Emirates, Israel, Algeria and Morocco, represented more than two-thirds of total import. The following importers - Kuwait (X units), Yemen (X units), Oman (X units), Libya (X units), Tunisia (X units) and Qatar (X units) - together made up 16% of total imports.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +20.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Israel ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of imports in 2022, with a combined 46% share of total imports. Egypt, Iraq, Kuwait, Morocco, Algeria, Qatar, Yemen, Oman, Tunisia and Libya lagged somewhat behind, together accounting for a further 46%.

In terms of the main importing countries, Yemen, with a CAGR of +19.8%, 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, picking up by 4.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2021 an increase of 18% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per unit), while Algeria ($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 (+11.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform