GCC: Electrical Signalling Apparatus Market 2023

Electrical Signalling Apparatus Market Size in GCC

After two years of growth, the GCC electrical signalling apparatus market decreased by -12.5% to $X in 2022. In general, consumption showed a resilient expansion. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Electrical Signalling Apparatus Production in GCC

In value terms, electrical signalling apparatus production rose markedly to $X in 2022 estimated in export price. Overall, production enjoyed a prominent increase. The pace of growth was the most pronounced in 2018 with an increase of 83% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Electrical Signalling Apparatus Exports

Exports in GCC

Electrical signalling apparatus exports soared to X units in 2022, with an increase of 28% compared with 2021. Over the period under review, exports, however, continue to indicate a pronounced decrease. The growth pace was the most rapid in 2017 when exports increased by 113% against the previous year. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, electrical signalling apparatus exports amounted to $X in 2022. In general, exports posted a perceptible expansion. The most prominent rate of growth was recorded in 2017 with an increase of 46%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates was the key exporting country with an export of around X units, which finished at 63% of total exports. It was distantly followed by Saudi Arabia (X units), constituting a 29% share of total exports. Kuwait (X units) and Oman (X units) held a relatively small share of total exports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of electrical apparatus for sound or visual signalling. At the same time, Oman (+25.1%) and Kuwait (+5.2%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +25.1% from 2012-2022. By contrast, Saudi Arabia (-7.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates, Oman and Kuwait increased by +17, +2.9 and +1.9 percentage points, respectively.

In value terms, the United Arab Emirates ($X) remains the largest electrical signalling apparatus supplier in GCC, comprising 76% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 16% share of total exports. It was followed by Kuwait, with a 3.4% share.

In the United Arab Emirates, electrical signalling apparatus exports increased at an average annual rate of +8.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (-8.3% per year) and Kuwait (+2.0% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, shrinking by -18.9% against the previous year. Export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electrical signalling apparatus export price increased by +38.8% against 2018 indices. The pace of growth was the most pronounced in 2019 an increase of 53%. Over the period under review, the export prices hit record highs at $X per unit in 2021, and then contracted dramatically in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.8%), while the other leaders experienced a decline in the export price figures.

Electrical Signalling Apparatus Imports

Imports in GCC

In 2022, after two years of growth, there was decline in overseas purchases of electrical apparatus for sound or visual signalling, when their volume decreased by -4.9% to X units. Total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +4.9% 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 +54.9% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 41%. As a result, imports attained the peak of X units, and then dropped modestly in the following year.

In value terms, electrical signalling apparatus imports shrank significantly to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 38%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the key importing country with an import of around X units, which accounted for 63% of total imports. Oman (X units) ranks second in terms of the total imports with a 21% share, followed by Kuwait (10%). The following importers - Bahrain (X units) and Qatar (X units) - together made up 6.3% of total imports.

Imports into the United Arab Emirates increased at an average annual rate of +4.5% from 2012 to 2022. At the same time, Oman (+11.9%), Qatar (+11.7%) and Kuwait (+6.5%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +11.9% from 2012-2022. By contrast, Bahrain (-7.7%) illustrated a downward trend over the same period. Oman (+9.9 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates and Bahrain saw its share reduced by -2.6% and -9.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported electrical apparatus for sound or visual signalling in GCC, comprising 54% of total imports. The second position in the ranking was held by Kuwait ($X), with a 5.6% share of total imports. It was followed by Oman, with a 5.2% share.

In the United Arab Emirates, electrical signalling apparatus imports expanded at an average annual rate of +2.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kuwait (+0.3% per year) and Oman (+9.3% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, which is down by -11% against the previous year. Overall, the import price showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 an increase of 18% against the previous year. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Qatar ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+3.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

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