Middle East: Transportation Vehicle Body Market 2024

Transportation Vehicle Body Market Size in the Middle East

The Middle Eastern transportation vehicle body market was finally on the rise to reach $X in 2022, after two years of decline. Overall, consumption showed a notable increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Transportation Vehicle Body Production in the Middle East

In value terms, transportation vehicle body production declined to $X in 2022 estimated in export price. In general, production showed a buoyant expansion. The growth pace was the most rapid in 2019 when the production volume increased by 53%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Transportation Vehicle Body Exports

Exports in the Middle East

In 2022, after three years of decline, there was significant growth in shipments abroad of bodies for motor vehicles for the transporting people, when their volume increased by 13% to X units. In general, exports, however, recorded a perceptible downturn. The most prominent rate of growth was recorded in 2015 with an increase of 1,142%. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, transportation vehicle body exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a noticeable descent. The pace of growth appeared the most rapid in 2015 with an increase of 2,072% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units) and Iran (X units) prevails in exports structure, together achieving 76% of total exports. Jordan (X units) ranks next in terms of the total exports with a 9% share, followed by Turkey (8.8%). Bahrain (X units) and Oman (X units) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Bahrain (with a CAGR of +49.6%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Iran ($X) and Bahrain ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for 83% of total exports.

Bahrain, with a CAGR of +114.9%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2022, rising by 15% against the previous year. Over the period under review, the export price, however, continues to indicate a mild setback. The pace of growth appeared the most rapid in 2015 when the export price increased by 75% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+43.6%), while the other leaders experienced more modest paces of growth.

Transportation Vehicle Body Imports

Imports in the Middle East

After two years of growth, overseas purchases of bodies for motor vehicles for the transporting people decreased by -15.7% to X units in 2022. In general, imports, however, continue to indicate a prominent increase. The growth pace was the most rapid in 2015 when imports increased by 1,009% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, transportation vehicle body imports declined remarkably to $X in 2022. Over the period under review, imports, however, showed strong growth. The growth pace was the most rapid in 2020 when imports increased by 199%. The level of import peaked at $X in 2021, and then contracted sharply in the following year.

Imports by Country

Iran prevails in imports structure, recording X units, which was approx. 88% of total imports in 2022. It was distantly followed by Iraq (X units), mixing up a 4.9% share of total imports. The United Arab Emirates (X units) followed a long way behind the leaders.

Iran was also the fastest-growing in terms of the bodies for motor vehicles for the transporting people imports, with a CAGR of +69.9% from 2012 to 2022. At the same time, Iraq (+12.8%) displayed positive paces of growth. The United Arab Emirates experienced a relatively flat trend pattern. Iran (+86 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by -9.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Iran ($X) constitutes the largest market for imported bodies for motor vehicles for the transporting people in the Middle East, comprising 97% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 1.3% share of total imports.

In Iran, transportation vehicle body imports expanded at an average annual rate of +74.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+2.0% per year) and Iraq (-3.3% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per unit, waning by -3.5% against the previous year. Over the period under review, the import price, however, continues to indicate a modest increase. The most prominent rate of growth was recorded in 2019 when the import price increased by 266%. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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