Middle East: Accumulator Market 2024

Accumulator Market Size in the Middle East

The Middle Eastern accumulator market expanded slightly to $X in 2022, with an increase of X% against the previous year. In general, consumption saw a buoyant expansion. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Accumulator Production in the Middle East

In value terms, accumulator production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a remarkable increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Accumulator Exports

Exports in the Middle East

In 2022, shipments abroad of electric accumulators increased by X% to X units, rising for the second consecutive year after two years of decline. Overall, exports recorded a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, accumulator exports surged to $X in 2022. In general, exports enjoyed a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, the United Arab Emirates (X units) represented the key exporter of electric accumulators, comprising X% of total exports. It was distantly followed by Turkey (X units), achieving a X% share of total exports. Saudi Arabia (X units) took a little share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the electric accumulators exports, with a CAGR of X% from 2012 to 2022. At the same time, Turkey (X%) displayed positive paces of growth. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates increased by X percentage points.

In value terms, the largest accumulator supplying countries in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Saudi Arabia ($X), together comprising X% of total exports.

In terms of the main exporting countries, the United Arab Emirates, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2022, shrinking by X% against the previous year. Overall, the export price recorded a pronounced downturn. The most prominent rate of growth was recorded in 2013 an increase of X%. Over the period under review, the export prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while the United Arab Emirates ($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 (X%), while the other leaders experienced mixed trends in the export price figures.

Accumulator Imports

Imports in the Middle East

Accumulator imports surged to X units in 2022, growing by X% on 2021. In general, imports saw a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, accumulator imports rose markedly to $X in 2022. Total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Turkey was the largest importer of electric accumulators in the Middle East, with the volume of imports finishing at X units, which was near X% of total imports in 2022. The United Arab Emirates (X units) took the second position in the ranking, distantly followed by Lebanon (X units). All these countries together held near X% share of total imports. The following importers - Israel (X units), Oman (X units) and Iraq (X units) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to accumulator imports into Turkey stood at X%. At the same time, Oman (X%), Israel (X%), Lebanon (X%), Iraq (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. Turkey (X p.p.), Lebanon (X p.p.), Israel (X p.p.) and Oman (X p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest accumulator importing markets in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Israel ($X), with a combined X% share of total imports.

Israel, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per unit, which is down by X% against the previous year. Overall, the import price saw a mild reduction. The most prominent rate of growth was recorded in 2013 an increase of X%. Over the period under review, import prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Iraq ($X per unit), while Turkey ($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 (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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