Oman: Market for Steering Wheels, Steering Columns And Steering Boxes 2025

Market Size for Steering Wheels, Steering Columns And Steering Boxes in Oman

In 2022, after three years of growth, there was significant decline in the Omani steering wheels and columns market, when its value decreased by -5.6% to $X. In general, consumption saw strong growth. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Exports of Steering Wheels, Steering Columns And Steering Boxes

Exports from Oman

In 2022, approx. X kg of steering wheels, steering columns and steering boxes were exported from Oman; waning by -33.1% compared with the previous year's figure. In general, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 332% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, steering wheels and columns exports declined remarkably to $X in 2022. Over the period under review, exports saw a drastic downturn. The growth pace was the most rapid in 2018 when exports increased by 424% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X kg) was the main destination for steering wheels and columns exports from Oman, accounting for a 46% share of total exports. Moreover, steering wheels and columns exports to the United Arab Emirates exceeded the volume sent to the second major destination, Singapore (X kg), fivefold. The third position in this ranking was held by Hong Kong SAR (X kg), with an 8.3% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates amounted to +24.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+3.2% per year) and Hong Kong SAR (-9.8% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for steering wheels, steering columns and steering boxes exports from Oman, comprising 41% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 16% share of total exports. It was followed by Singapore, with an 8.4% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates stood at +36.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-11.0% per year) and Singapore (-4.7% per year).

Export Prices by Country

The average steering wheels and columns export price stood at $X per ton in 2022, which is down by -2.8% against the previous year. Over the period under review, the export price continues to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2017 an increase of 60% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iran ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Tanzania (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Steering Wheels, Steering Columns And Steering Boxes

Imports into Oman

In 2022, steering wheels and columns imports into Oman rose modestly to X tons, growing by 3% on 2021 figures. Overall, imports saw a prominent expansion. The pace of growth appeared the most rapid in 2017 with an increase of 704% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, steering wheels and columns imports shrank to $X in 2022. Over the period under review, imports saw a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 517%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X tons), Japan (X tons) and South Korea (X tons) were the main suppliers of steering wheels and columns imports to Oman, together accounting for 95% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +43.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), the United Arab Emirates ($X) and South Korea ($X) constituted the largest steering wheels and columns suppliers to Oman, with a combined 89% share of total imports.

South Korea, with a CAGR of +39.6%, recorded 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 steering wheels and columns import price amounted to $X per ton, declining by -12.5% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 49% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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