Middle East: Relay Market 2024

Relay Market Size in the Middle East

For the third year in a row, the Middle Eastern relay market recorded growth in sales value, which increased by X% to $X in 2022. In general, consumption, however, continues to indicate a strong increase. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Relay Production in the Middle East

In value terms, relay production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, showed a resilient increase. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Relay Exports

Exports in the Middle East

In 2022, approx. X units of relays were exported in the Middle East; picking up by X% on 2021 figures. Total exports indicated a buoyant expansion from 2012 to 2022: its volume 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, exports increased by X% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, relay exports skyrocketed to $X in 2022. Overall, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Turkey represented the main exporting country with an export of around X units, which resulted at X% of total exports. The United Arab Emirates (X units) ranks second in terms of the total exports with a X% share, followed by Israel (X%).

From 2012 to 2022, the biggest increases were recorded for Israel (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Israel ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

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

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per unit, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

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 Israel ($X per unit), while the United Arab Emirates ($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.

Relay Imports

Imports in the Middle East

For the third year in a row, the Middle East recorded growth in purchases abroad of relays, which increased by X% to X units in 2022. Total imports indicated a measured expansion from 2012 to 2022: its volume 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 2019 indices. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, relay imports stood at $X in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X%. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

Turkey represented the main importing country with an import of about X units, which amounted to X% of total imports. It was distantly followed by Iran (X units), the United Arab Emirates (X units) and Iraq (X units), together making up a X% share of total imports. The following importers - Israel (X units), Oman (X units) and Qatar (X units) - together made up X% of total imports.

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

In value terms, Turkey ($X) constitutes the largest market for imported relays in the Middle East, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Iran, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Iran (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per unit in 2022, with an increase of X% against the previous year. In general, the import price, however, continues to indicate a pronounced descent. The pace of growth appeared the most rapid in 2019 an increase of X%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 ($X per unit), while Iran ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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