Oman: Market for Solar Cells and Light-Emitting Diodes 2024

Market Size for Solar Cells and Light-Emitting Diodes in Oman

The Omani market for solar cells and light-emitting diodes contracted to $X in 2022, with a decrease of -9.4% 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, showed a significant increase. Over the period under review, the market hit record highs at $X in 2021, and then declined in the following year.

Exports of Solar Cells and Light-Emitting Diodes

Exports from Oman

In 2022, shipments abroad of solar cells and light-emitting diodes decreased by -6.8% to X units for the first time since 2017, thus ending a four-year rising trend. In general, exports, however, saw significant growth. The pace of growth was the most pronounced in 2015 with an increase of 1,289,700%. Over the period under review, the exports hit record highs at X units in 2021, and then shrank in the following year.

In value terms, solar cells and light-emitting diodes exports contracted modestly to $X in 2022. Overall, exports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2015 when exports increased by 547,650% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Yemen (X units) was the main destination for solar cells and light-emitting diodes exports from Oman, with a approx. 99% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Yemen totaled +80.1%.

In value terms, Yemen ($X) also remains the key foreign market for solar cells and light-emitting diodes exports from Oman.

From 2012 to 2022, the average annual rate of growth in terms of value to Yemen amounted to +51.0%.

Export Prices by Country

In 2022, the average export price for solar cells and light-emitting diodes amounted to $X per unit, growing by 4.4% against the previous year. Over the period under review, the export price, however, showed a deep slump. The pace of growth was the most pronounced in 2013 when the average export price increased by 42%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Yemen.

From 2012 to 2022, the rate of growth in terms of prices for Yemen amounted to -16.1% per year.

Imports of Solar Cells and Light-Emitting Diodes

Imports into Oman

In 2022, solar cells and light-emitting diodes imports into Oman dropped to X units, reducing by -9.2% on 2021 figures. Overall, imports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 2,749% against the previous year. Imports peaked at X units in 2021, and then declined in the following year.

In value terms, solar cells and light-emitting diodes imports contracted rapidly to $X in 2022. In general, imports saw a pronounced slump. The pace of growth appeared the most rapid in 2019 when imports increased by 2,000% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of solar cells and light-emitting diodes to Oman, accounting for a 78% share of total imports. Moreover, solar cells and light-emitting diodes imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), eightfold. The third position in this ranking was held by Sri Lanka (X units), with an 8.5% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +90.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+80.6% per year) and Sri Lanka (+82.5% per year).

In value terms, China ($X) constituted the largest supplier of solar cells and light-emitting diodes to Oman, comprising 80% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with an 8.4% share of total imports. It was followed by Sri Lanka, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-5.6% per year) and Sri Lanka (+109.3% per year).

Import Prices by Country

In 2022, the average import price for solar cells and light-emitting diodes amounted to less than $X per unit, declining by -99.3% against the previous year. Over the period under review, the import price showed a dramatic shrinkage. The pace of growth appeared the most rapid in 2013 when the average import price increased by 39% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from China (less than $X per unit) and the United Arab Emirates (less than $X per unit), while the price for Singapore (less than $X per unit) and Sri Lanka (less than $X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+14.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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