GCC: Video Game Console Market 2023

Video Game Console Market Size in GCC

The GCC video game console market contracted rapidly to $X in 2022, with a decrease of -18.5% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then reduced markedly in the following year.

Video Game Console Production in GCC

In value terms, video game console production rose significantly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a slight curtailment. The most prominent rate of growth was recorded in 2020 when the production volume increased by 47%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Video Game Console Exports

Exports in GCC

In 2022, overseas shipments of video game consoles (not operated by means of payments) decreased by -15.1% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, continue to indicate a notable increase. The most prominent rate of growth was recorded in 2013 when exports increased by 162% against the previous year. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, video game console exports shrank to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 74% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, the United Arab Emirates (X units) represented the main exporter of video game consoles (not operated by means of payments), generating 75% of total exports. It was distantly followed by Oman (X units), achieving a 25% share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of +3.4% from 2012 to 2022. At the same time, Oman (+73.9%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +73.9% from 2012-2022. Oman (+25 p.p.) and the United Arab Emirates (+6.6 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest video game console supplier in GCC, comprising 85% of total exports. The second position in the ranking was taken by Oman ($X), with a 15% share of total exports.

In the United Arab Emirates, video game console exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, with an increase of 1.6% against the previous year. Overall, the export price, however, saw a pronounced decline. The pace of growth appeared the most rapid in 2018 when the export price increased by 29%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Oman totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-3.2%).

Video Game Console Imports

Imports in GCC

In 2022, approx. X units of video game consoles (not operated by means of payments) were imported in GCC; with a decrease of -20% compared with 2021 figures. In general, imports recorded a mild reduction. The pace of growth appeared the most rapid in 2021 when imports increased by 75% against the previous year. The volume of import peaked at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, video game console imports contracted dramatically to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 58%. As a result, imports attained the peak of $X, and then declined significantly in the following year.

Imports by Country

The United Arab Emirates was the major importer of video game consoles (not operated by means of payments) in GCC, with the volume of imports reaching X units, which was approx. 72% of total imports in 2022. Qatar (X units) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (6.1%) and Oman (5.3%). Bahrain (X units) followed a long way behind the leaders.

Imports into the United Arab Emirates decreased at an average annual rate of -4.6% from 2012 to 2022. At the same time, Qatar (+26.1%), Bahrain (+22.2%), Kuwait (+11.7%) and Oman (+11.1%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +26.1% from 2012-2022. While the share of Qatar (+12 p.p.), Kuwait (+4.4 p.p.), Oman (+3.8 p.p.) and Bahrain (+3.2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United Arab Emirates (-23.5 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported video game consoles (not operated by means of payments) in GCC, comprising 59% of total imports. The second position in the ranking was taken by Qatar ($X), with a 5.4% share of total imports. It was followed by Kuwait, with a 4.8% share.

In the United Arab Emirates, video game console imports increased at an average annual rate of +1.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (+13.9% per year) and Kuwait (+21.8% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, rising by 5% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 26% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+9.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :