GCC: Metal Vehicle Lock Market 2024

Metal Vehicle Lock Market Size in GCC

The GCC metal vehicle lock market expanded remarkably to $X in 2023, with an increase of X% against the previous year. The total consumption indicated a perceptible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Metal Vehicle Lock Production in GCC

In value terms, metal vehicle lock production rose rapidly to $X in 2023 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Metal Vehicle Lock Exports

Exports in GCC

In 2023, exports of base metal motor vehicle locks in GCC surged to X tons, picking up by X% on the previous year. Overall, exports recorded strong growth. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, metal vehicle lock exports skyrocketed to $X in 2023. Over the period under review, exports posted a resilient expansion. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, accounting for X tons, which was near X% of total exports in 2023. It was distantly followed by Bahrain (X tons), making up a X% share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2023. At the same time, Bahrain (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of the United Arab Emirates and Bahrain increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest metal vehicle lock supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Bahrain ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in the United Arab Emirates amounted to X%.

Export Prices by Country

In 2023, the export price in GCC amounted to $X per ton, shrinking by X% against the previous year. In general, the export price saw a abrupt decline. The growth pace was the most rapid in 2022 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the United Arab Emirates amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bahrain (X%).

Metal Vehicle Lock Imports

Imports in GCC

In 2023, imports of base metal motor vehicle locks in GCC soared to X tons, increasing by X% compared with the year before. Over the period under review, imports, however, recorded a noticeable decrease. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

In value terms, metal vehicle lock imports reduced modestly to $X in 2023. Total imports indicated a noticeable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then shrank modestly in the following year.

Imports by Country

The United Arab Emirates was the main importing country with an import of about X tons, which reached X% of total imports. It was distantly followed by Saudi Arabia (X tons), mixing up a X% share of total imports. Oman (X tons), Kuwait (X tons) and Bahrain (X tons) took a minor share of total imports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of imports of base metal motor vehicle locks. Bahrain experienced a relatively flat trend pattern. Kuwait (X%), Oman (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the United Arab Emirates increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported base metal motor vehicle locks in GCC, comprising X% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total imports. It was followed by Kuwait, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (X% per year) and Kuwait (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2023, dropping by X% against the previous year. In general, the import price, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2018 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2023, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Bahrain ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bahrain (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform