United Arab Emirates: Suspension System Market 2024

Suspension System Market Size in the United Arab Emirates

The suspension system market in the United Arab Emirates reduced rapidly to $X in 2022, waning by -18.8% 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, the total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +76.2% against 2016 indices. As a result, consumption attained the peak level of $X, and then fell dramatically in the following year.

Suspension System Exports

Exports from the United Arab Emirates

After three years of decline, overseas shipments of suspension systems increased by 6% to X tons in 2022. In general, total exports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 52%. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, suspension system exports shrank to $X in 2022. Overall, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +8.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +13.7% against 2019 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 90% against the previous year. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

Zimbabwe (X tons) was the main destination for suspension system exports from the United Arab Emirates, with a 50% share of total exports. Moreover, suspension system exports to Zimbabwe exceeded the volume sent to the second major destination, Kazakhstan (X tons), sixfold. The third position in this ranking was taken by Mozambique (X tons), with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Zimbabwe totaled +29.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (+17.8% per year) and Mozambique (+25.0% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for suspension systems exports from the United Arab Emirates, comprising 31% of total exports. The second position in the ranking was held by Zimbabwe ($X), with a 15% share of total exports. It was followed by Germany, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR totaled +7.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zimbabwe (+23.4% per year) and Germany (+40.7% per year).

Export Prices by Country

In 2022, the average suspension system export price amounted to $X per ton, falling by -12.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2013 an increase of 24%. The export price peaked at $X per ton in 2021, and then dropped in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Burundi ($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 the UK (+14.4%), while the prices for the other major destinations experienced more modest paces of growth.

Suspension System Imports

Imports into the United Arab Emirates

In 2022, imports of suspension systems into the United Arab Emirates shrank to X tons, falling by -14.5% on the year before. Over the period under review, total imports indicated a mild expansion from 2012 to 2022: its volume increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +89.5% against 2016 indices. The pace of growth appeared the most rapid in 2017 with an increase of 46%. Over the period under review, imports reached the maximum at X tons in 2021, and then shrank in the following year.

In value terms, suspension system imports declined rapidly to $X in 2022. Overall, total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +53.8% against 2018 indices. The pace of growth was the most pronounced in 2021 with an increase of 48% against the previous year. As a result, imports attained the peak of $X, and then shrank notably in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of suspension system to the United Arab Emirates, with a 52% share of total imports. Moreover, suspension system imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. Turkey (X tons) ranked third in terms of total imports with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-0.8% per year) and Turkey (+29.6% per year).

In value terms, China ($X) constituted the largest supplier of suspension systems to the United Arab Emirates, comprising 32% of total imports. The second position in the ranking was held by Japan ($X), with a 15% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-4.1% per year) and the United States (+9.8% per year).

Import Prices by Country

The average suspension system import price stood at $X per ton in 2022, declining by -2.1% against the previous year. In general, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, suspension system import price decreased by -3.4% against 2019 indices. The most prominent rate of growth was recorded in 2016 an increase of 82%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+28.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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