Saudi Arabia: Brakes And Servo-Brakes Market 2024

Brakes And Servo-Brakes Market Size in Saudi Arabia

The Saudi brakes and servo-brakes market shrank modestly to $X in 2022, remaining constant 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, however, saw a pronounced setback. Brakes and servo-brakes consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Brakes And Servo-Brakes Exports

Exports from Saudi Arabia

In 2022, shipments abroad of brakes and servo-brakes was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports posted a resilient increase. The pace of growth was the most pronounced in 2015 with an increase of 2,421%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, brakes and servo-brakes exports fell to $X in 2022. In general, exports, however, saw a pronounced decline. The pace of growth appeared the most rapid in 2015 with an increase of 2,740% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Egypt (X tons) was the main destination for brakes and servo-brakes exports from Saudi Arabia, with a 94% share of total exports. Moreover, brakes and servo-brakes exports to Egypt exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Egypt stood at +10.1%.

In value terms, Egypt ($X) and the United Arab Emirates ($X) constituted the largest markets for brakes and servo-brakes exported from Saudi Arabia worldwide.

In terms of the main countries of destination, Egypt, with a CAGR of +15.4%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The average brakes and servo-brakes export price stood at $X per ton in 2022, with a decrease of -46.2% against the previous year. Over the period under review, the export price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2020 an increase of 303% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Egypt totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+40.5%), while the prices for the other major destinations experienced more modest paces of growth.

Brakes And Servo-Brakes Imports

Imports into Saudi Arabia

Brakes and servo-brakes imports into Saudi Arabia stood at X tons in 2022, growing by 9.4% against the year before. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 41% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, brakes and servo-brakes imports contracted slightly to $X in 2022. Over the period under review, imports, however, continue to indicate a pronounced curtailment. The pace of growth appeared the most rapid in 2019 when imports increased by 39%. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X tons), China (X tons) and Turkey (X tons) were the main suppliers of brakes and servo-brakes imports to Saudi Arabia, together comprising 54% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +17.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of brakes and servo-brakes to Saudi Arabia, comprising 31% of total imports. The second position in the ranking was held by Thailand ($X), with a 12% share of total imports. It was followed by Germany, with a 9.6% share.

From 2012 to 2022, the average annual growth rate of value from Japan totaled -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+1.4% per year) and Germany (-7.3% per year).

Import Prices by Country

In 2022, the average brakes and servo-brakes import price amounted to $X per ton, falling by -11.5% against the previous year. Overall, the import price continues to indicate a slight setback. The most prominent rate of growth was recorded in 2021 when the average import price increased by 26% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :