Saudi Arabia: Metal Vehicle Lock Market 2024

Metal Vehicle Lock Market Size in Saudi Arabia

The Saudi metal vehicle lock market fell to $X in 2022, waning by X% against the previous year. Over the period under review, consumption, however, saw pronounced growth. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Metal Vehicle Lock Production in Saudi Arabia

In value terms, metal vehicle lock production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed strong growth. The growth pace was the most rapid in 2017 when the production volume increased by X%. Metal vehicle lock production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

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Metal Vehicle Lock Exports

Exports from Saudi Arabia

For the fourth consecutive year, Saudi Arabia recorded decline in shipments abroad of base metal motor vehicle locks, which decreased by X% to X kg in 2022. In general, exports saw a dramatic setback. The pace of growth was the most pronounced in 2015 with an increase of X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, metal vehicle lock exports dropped significantly to $X in 2022. Over the period under review, exports saw a dramatic decline. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Chile (X kg) was the main destination for metal vehicle lock exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, metal vehicle lock exports to Chile exceeded the volume sent to the second major destination, Hong Kong SAR (X kg), more than tenfold.

From 2018 to 2022, the average annual growth rate of volume to Chile was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and Turkey (X% per year).

In value terms, Hong Kong SAR ($X) emerged as the key foreign market for base metal motor vehicle locks exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was taken by Chile ($X), with a X% share of total exports.

From 2018 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (X% per year) and Turkey (X% per year).

Export Prices by Country

The average metal vehicle lock export price stood at $X per ton in 2022, reducing by X% against the previous year. Overall, the export price, however, posted buoyant growth. The growth pace was the most rapid in 2019 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2018 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (X%).

Metal Vehicle Lock Imports

Imports into Saudi Arabia

In 2021, purchases abroad of base metal motor vehicle locks increased by X% to X tons, rising for the third year in a row after two years of decline. In general, imports, however, recorded a noticeable curtailment. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, metal vehicle lock imports surged to $X in 2021. Overall, imports, however, saw a perceptible contraction. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of metal vehicle lock to Saudi Arabia, accounting for a X% share of total imports. Moreover, metal vehicle lock imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Japan (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Japan (X% per year).

In value terms, Germany ($X), Mexico ($X) and China ($X) constituted the largest metal vehicle lock suppliers to Saudi Arabia, together accounting for X% of total imports.

In terms of the main suppliers, Mexico, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average metal vehicle lock import price stood at $X per ton in 2021, dropping by X% against the previous year. Over the period under review, the import price showed a mild shrinkage. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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