Oman: Market for Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) 2024

Market Size for Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) in Oman

The Omani market for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) surged to $X in 2021, rising by 30% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed a buoyant expansion. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Exports of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD)

Exports from Oman

In 2021, exports of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) from Oman soared to X units, picking up by 94% on the year before. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 382%. Over the period under review, the exports attained the peak figure at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, LCD or LED indicator panel exports soared to $X in 2021. In general, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 431%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The UK (X units) was the main destination for LCD or LED indicator panel exports from Oman, accounting for a 78% share of total exports. Moreover, LCD or LED indicator panel exports to the UK exceeded the volume sent to the second major destination, Switzerland (X units), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK stood at +35.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+99.8% per year) and France (+36.4% per year).

In value terms, the UK ($X) remains the key foreign market for LCD or LED indicator panel exports from Oman, comprising 88% of total exports. The second position in the ranking was taken by Switzerland ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK stood at +31.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+66.3% per year) and France (+28.8% per year).

Export Prices by Country

The average export price for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) stood at $X per unit in 2021, reducing by -6.6% against the previous year. Over the period under review, the export price, however, showed a mild increase. The pace of growth was the most pronounced in 2013 an increase of 252% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the UK ($X per unit), while the average price for exports to Switzerland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+1.6%), while the prices for the other major destinations experienced a decline.

Imports of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD)

Imports into Oman

In 2021, lcd or led indicator panel imports into Oman soared to X units, with an increase of 32% on 2020 figures. Over the period under review, imports recorded prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of 241% against the previous year. Over the period under review, imports reached the maximum at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, LCD or LED indicator panel imports soared to $X in 2021. In general, imports showed buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 97% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X units) constituted the largest LCD or LED indicator panel supplier to Oman, with a 54% share of total imports. Moreover, LCD or LED indicator panel imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was held by Italy (X units), with a 9% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates amounted to +13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+34.9% per year) and Italy (+90.6% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of LCD or LED indicator panel to Oman, comprising 42% of total imports. The second position in the ranking was taken by Spain ($X), with a 16% share of total imports. It was followed by Italy, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates amounted to +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+46.7% per year) and Italy (+75.1% per year).

Import Prices by Country

The average import price for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) stood at $X per unit in 2021, shrinking by -4.6% against the previous year. In general, the import price continues to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2015 when the average import price increased by 62%. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Spain ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+40.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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