Middle East: Brakes And Servo-Brakes Market 2024

Brakes And Servo-Brakes Market Size in the Middle East

The Middle Eastern brakes and servo-brakes market dropped notably to $X in 2022, declining by -16.6% against the previous year. The market value increased at an average annual rate of +1.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Brakes And Servo-Brakes Production in the Middle East

In value terms, brakes and servo-brakes production fell sharply to $X in 2022 estimated in export price. Overall, production, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2018 when the production volume increased by 83%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Brakes And Servo-Brakes Exports

Exports in the Middle East

In 2022, overseas shipments of brakes and servo-brakes increased by 18% to X tons, rising for the second year in a row after two years of decline. Total exports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +85.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 57% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, brakes and servo-brakes exports expanded sharply to $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +8.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +44.8% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 28%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Turkey dominates exports structure, recording X tons, which was approx. 90% of total exports in 2022. It was distantly followed by Oman (X tons), committing a 7.7% share of total exports. The United Arab Emirates (X tons) took a minor share of total exports.

Turkey was also the fastest-growing in terms of the brakes and servo-brakes exports, with a CAGR of +7.3% from 2012 to 2022. At the same time, the United Arab Emirates (+6.4%) displayed positive paces of growth. Oman experienced a relatively flat trend pattern. Turkey (+8.3 p.p.) significantly strengthened its position in terms of the total exports, while Oman saw its share reduced by -7.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest brakes and servo-brakes supplier in the Middle East, comprising 88% of total exports. The second position in the ranking was taken by Oman ($X), with a 7.5% share of total exports.

In Turkey, brakes and servo-brakes exports expanded at an average annual rate of +9.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (+3.5% per year) and the United Arab Emirates (+6.2% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, declining by -3.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2019 an increase of 11% against the previous year. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, 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 2022, the most notable rate of growth in terms of prices was attained by Oman (+3.9%), while the other leaders experienced mixed trends in the export price figures.

Brakes And Servo-Brakes Imports

Imports in the Middle East

In 2022, approx. X tons of brakes and servo-brakes were imported in the Middle East; flattening at 2021. The total import volume increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 17% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, brakes and servo-brakes imports contracted to $X in 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 19%. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

Turkey was the largest importer of brakes and servo-brakes in the Middle East, with the volume of imports recording X tons, which was near 46% of total imports in 2022. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 22% share, followed by Saudi Arabia (7.8%), Iran (5.5%), Iraq (5.4%) and Israel (4.7%). Kuwait (X tons) took a minor share of total imports.

Turkey was also the fastest-growing in terms of the brakes and servo-brakes imports, with a CAGR of +7.4% from 2012 to 2022. At the same time, Iraq (+5.9%), Israel (+4.7%), Kuwait (+2.1%) and the United Arab Emirates (+1.4%) displayed positive paces of growth. Saudi Arabia experienced a relatively flat trend pattern. By contrast, Iran (-5.4%) illustrated a downward trend over the same period. Turkey (+15 p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia, the United Arab Emirates and Iran saw its share reduced by -3.8%, -4.3% and -7.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported brakes and servo-brakes in the Middle East, comprising 43% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 21% share of total imports. It was followed by Saudi Arabia, with a 10% share.

In Turkey, brakes and servo-brakes imports increased at an average annual rate of +1.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+3.7% per year) and Saudi Arabia (-2.4% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, with a decrease of -6.2% against the previous year. In general, the import price showed a noticeable slump. The pace of growth appeared the most rapid in 2021 when the import price increased by 6.3%. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a 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 Kuwait ($X per ton), while Iraq ($X per ton) 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 (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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