Oman: Inductor Market 2024

Inductor Market Size in Oman

The Omani inductor market surged to $X in 2022, with an increase of 84% 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). Overall, consumption, however, recorded a deep contraction. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Inductor Exports

Exports from Oman

In 2022, shipments abroad of inductors was finally on the rise to reach X units after two years of decline. Over the period under review, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2017 when exports increased by 4,003% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, inductor exports soared to $X in 2022. Overall, exports recorded prominent growth. The pace of growth was the most pronounced in 2017 when exports increased by 2,878% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Qatar (X units) was the main destination for inductor exports from Oman, accounting for a 78% share of total exports. Moreover, inductor exports to Qatar exceeded the volume sent to the second major destination, the United Arab Emirates (X units), eightfold. Saudi Arabia (X units) ranked third in terms of total exports with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Qatar amounted to +47.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+42.0% per year) and Saudi Arabia (+53.1% per year).

In value terms, Qatar ($X) remains the key foreign market for inductors exports from Oman, comprising 61% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 6.2% share of total exports. It was followed by Kuwait, with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Qatar amounted to +31.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+29.8% per year) and Kuwait (+3.6% per year).

Export Prices by Country

In 2022, the average inductor export price amounted to $X per unit, which is down by -42.9% against the previous year. Overall, the export price saw a perceptible setback. The pace of growth appeared the most rapid in 2020 an increase of 82%. As a result, the export price attained the peak level of $X per unit. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Saudi Arabia (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+14.1%), while the prices for the other major destinations experienced more modest paces of growth.

Inductor Imports

Imports into Oman

In 2022, the amount of inductors imported into Oman skyrocketed to X units, with an increase of 102% compared with the previous year. Overall, imports, however, showed a abrupt setback. The pace of growth was the most pronounced in 2017 with an increase of 303% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, inductor imports soared to $X in 2022. Over the period under review, imports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 140%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Saudi Arabia (X units), the United Arab Emirates (X units) and China (X units) were the main suppliers of inductor imports to Oman, with a combined 74% share of total imports. India, Austria, the UK, Slovakia, Germany, Qatar and Taiwan (Chinese) lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +55.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest inductor suppliers to Oman were the United Arab Emirates ($X), China ($X) and Saudi Arabia ($X), with a combined 51% share of total imports. Qatar, the UK, Slovakia, India, Germany, Austria and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 25%.

Qatar, with a CAGR of +75.2%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average inductor import price amounted to $X per thousand units, dropping by -12.5% against the previous year. Overall, the import price showed a mild decline. The pace of growth was the most pronounced in 2015 an increase of 107% against the previous year. Over the period under review, average import prices attained the maximum at $X per thousand units in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Qatar ($X per thousand units), while the price for Saudi Arabia ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+12.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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