Middle East: Static Converter Market 2024

Static Converter Market Size in the Middle East

After three years of growth, the Middle Eastern static converter market decreased by X% to $X in 2022. Overall, consumption showed a pronounced contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Static Converter Production in the Middle East

In value terms, static converter production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Static Converter Exports

Exports in the Middle East

For the third consecutive year, the Middle East recorded growth in shipments abroad of static converters, which increased by X% to X units in 2022. In general, exports recorded a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, static converter exports skyrocketed to $X in 2022. Over the period under review, exports saw a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates (X units) and Israel (X units) were the main exporters of static converters in 2022, recording near X% and X% of total exports, respectively. It was distantly followed by Turkey (X units), achieving a X% share of total exports. Lebanon (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by the United Arab Emirates (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

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

The United Arab Emirates, with a CAGR of X%, saw the highest growth rate of the value of exports, among 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

The export price in the Middle East stood at $X per unit in 2022, reducing by X% against the previous year. In general, the export price, however, showed prominent growth. The growth pace was the most rapid in 2015 an increase of X%. Over the period under review, the export prices hit record highs at $X per unit in 2021, and then dropped sharply in the following year.

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 Turkey ($X per unit), while Lebanon ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced a decline in the export price figures.

Static Converter Imports

Imports in the Middle East

In 2022, the amount of static converters imported in the Middle East dropped sharply to X units, falling by X% on the previous year's figure. Total imports indicated a strong increase 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 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X%. The volume of import peaked at X units in 2021, and then contracted significantly in the following year.

In value terms, static converter imports surged to $X in 2022. Total imports indicated a prominent increase 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 2016 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

Turkey (X units) and the United Arab Emirates (X units) prevails in imports structure, together constituting X% of total imports. Lebanon (X units) took the next position in the ranking, followed by Israel (X units). All these countries together held near X% share of total imports. Iraq (X units), Iran (X units) and Qatar (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Qatar (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Israel ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Lebanon, Iraq, Iran and Qatar lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Lebanon, with a CAGR of X%, recorded 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

In 2022, the import price in the Middle East amounted to $X per unit, surging by X% against the previous year. Import price indicated a modest expansion from 2012 to 2022: its price 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, static converter import price increased by X% against 2015 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Israel ($X per unit), while Lebanon ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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