Middle East: Market for Wiring sets used in vehicles, aircraft or ships 2024

Market Size for Wiring sets used in vehicles, aircraft or ships in the Middle East

The Middle Eastern market for wiring sets used in vehicles, aircraft or ships declined dramatically to $X in 2022, reducing by -19.7% against the previous year. Over the period under review, consumption, however, recorded resilient growth. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Wiring sets used in vehicles, aircraft or ships in the Middle East

In value terms, production of wiring sets used in vehicles, aircraft or ships dropped to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 118% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Wiring sets used in vehicles, aircraft or ships

Exports in the Middle East

In 2022, overseas shipments of wiring sets used in vehicles, aircraft or ships increased by 11% to X tons, rising for the second consecutive year after four years of decline. In general, exports showed pronounced growth. The growth pace was the most rapid in 2015 when exports increased by 90%. Over the period under review, the exports of reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, exports of wiring sets used in vehicles, aircraft or ships rose remarkably to $X in 2022. Total exports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.9% 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 +33.7% against 2020 indices. The pace of growth appeared the most rapid in 2015 when exports increased by 52% against the previous year. Over the period under review, the exports of hit record highs at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey was the key exporting country with an export of around X tons, which finished at 59% of total exports. The United Arab Emirates (X tons) ranks second in terms of the total exports with a 35% share, followed by Iran (4.6%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Iran (with a CAGR of +24.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest wiring sets used in vehicles, aircraft or ships supplying countries in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Iran ($X), with a combined 99% share of total exports.

Iran, with a CAGR of +13.1%, saw the highest rates of growth with regard to 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 ton in 2022, reducing by -2.6% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 13%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+1.0%), while the other leaders experienced a decline in the export price figures.

Imports of Wiring sets used in vehicles, aircraft or ships

Imports in the Middle East

In 2022, approx. X tons of wiring sets used in vehicles, aircraft or ships were imported in the Middle East; with a decrease of -10.8% compared with 2021 figures. Total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -16.5% against 2017 indices. The growth pace was the most rapid in 2017 when imports increased by 26% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of wiring sets used in vehicles, aircraft or ships dropped to $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value 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. The growth pace was the most rapid in 2017 with an increase of 26%. Over the period under review, imports of attained the peak figure at $X in 2021, and then declined in the following year.

Imports by Country

Turkey dominates ships structure, amounting to X tons, which was near 87% of total imports in 2022. The United Arab Emirates (X tons), Iran (X tons) and Israel (X tons) followed a long way behind the leaders.

Imports into Turkey increased at an average annual rate of +7.0% from 2012 to 2022. At the same time, Iran (+9.2%), Israel (+5.2%) and the United Arab Emirates (+1.1%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +9.2% from 2012-2022. While the share of Turkey (+17 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United Arab Emirates (-1.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported wiring sets used in vehicles, aircraft or ships in the Middle East, comprising 83% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 6.4% share of total imports. It was followed by Israel, with a 4.7% share.

From 2012 to 2022, the average annual growth rate of value in Turkey totaled +7.4%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+5.0% per year) and Israel (+7.0% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, picking up by 2.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2018 when the import price increased by 12% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

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 Israel ($X per ton), while Iran ($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 (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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