GCC: Motor Vehicle Radiator Market 2024

Motor Vehicle Radiator Market Size in GCC

In 2023, the GCC motor vehicle radiator market decreased by X% to $X for the first time since 2019, thus ending a three-year rising trend. In general, consumption, however, showed a prominent expansion. As a result, consumption reached the peak level of $X, and then declined remarkably in the following year.

Motor Vehicle Radiator Production in GCC

In value terms, motor vehicle radiator production reached $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, production reached the peak level of $X. From 2016 to 2023, production growth remained at a lower figure.

Motor Vehicle Radiator Exports

Exports in GCC

In 2023, approx. X units of radiators for motor vehicles were exported in GCC; with an increase of X% against 2022. Total exports indicated a modest expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2015 when exports increased by X%. As a result, the exports reached the peak of X units. From 2016 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, motor vehicle radiator exports contracted slightly to $X in 2023. Total exports indicated a notable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, recording X units, which was approx. X% of total exports in 2023. Oman (X units) and Bahrain (X units) held a little share of total exports.

From 2012 to 2023, average annual rates of growth with regard to motor vehicle radiator exports from the United Arab Emirates stood at X%. At the same time, Oman (X%) and Bahrain (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. While the share of Oman (X p.p.) and Bahrain (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest motor vehicle radiator supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Bahrain ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in the United Arab Emirates stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Bahrain (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2023, shrinking by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 when the export price increased by X%. As a result, the export price reached the peak level of $X per unit, and then shrank remarkably in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bahrain (X%), while the other leaders experienced more modest paces of growth.

Motor Vehicle Radiator Imports

Imports in GCC

In 2023, after two years of growth, there was significant decline in supplies from abroad of radiators for motor vehicles, when their volume decreased by X% to X units. Total imports indicated resilient growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X units in 2022, and then dropped in the following year.

In value terms, motor vehicle radiator imports expanded notably to $X in 2023. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked at $X in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates dominates imports structure, reaching X units, which was approx. X% of total imports in 2023. Oman (X units) ranks second in terms of the total imports with a X% share, followed by Kuwait (X%). Bahrain (X units) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the radiators for motor vehicles imports, with a CAGR of X% from 2012 to 2023. At the same time, Oman (X%) and Kuwait (X%) displayed positive paces of growth. Bahrain experienced a relatively flat trend pattern. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Bahrain (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported radiators for motor vehicles in GCC, comprising X% of total imports. The second position in the ranking was taken by Kuwait ($X), with a X% share of total imports. It was followed by Oman, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in the United Arab Emirates amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (X% per year) and Oman (X% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2023, rising by X% against the previous year. In general, the import price, however, recorded a abrupt shrinkage. The level of import peaked at $X per unit in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Bahrain ($X per unit) and Kuwait ($X per unit), while the United Arab Emirates ($X per unit) and Oman ($X per unit) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bahrain (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform