GCC: Internal Combustion Engines Market 2024

Internal Combustion Engines Market Size in GCC

The GCC internal combustion engines market dropped modestly to $X in 2023, with a decrease of X% against the previous year. Overall, consumption, however, showed modest growth. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2023, consumption remained at a lower figure.

Internal Combustion Engines Production in GCC

In value terms, internal combustion engines production dropped to $X in 2023 estimated in export price. In general, production, however, showed a noticeable increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2023, production stood at a somewhat lower figure.

Internal Combustion Engines Exports

Exports in GCC

In 2023, after two years of growth, there was significant decline in overseas shipments of motor vehicles compression-ignition internal combustion piston engines, when their volume decreased by X% to X units. Over the period under review, exports, however, saw temperate growth. The growth pace was the most rapid in 2022 when exports increased by X%. As a result, the exports reached the peak of X units, and then dropped significantly in the following year.

In value terms, internal combustion engines exports fell to $X in 2023. Total exports indicated pronounced growth 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 2018 when exports increased by X% against the previous year. The level of export peaked at $X in 2022, and then fell in the following year.

Exports by Country

The biggest shipments were from the United Arab Emirates (X units), together recording X% of total export.

The United Arab Emirates was also the fastest-growing in terms of the motor vehicles compression-ignition internal combustion piston engines exports, with a CAGR of X% from 2012 to 2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest internal combustion engines supplier in GCC.

In the United Arab Emirates, internal combustion engines exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in GCC stood at $X per unit in 2023, surging by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, the export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2023, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2023, the rate of growth in terms of prices for the United Arab Emirates amounted to X% per year.

Internal Combustion Engines Imports

Imports in GCC

In 2023, imports of motor vehicles compression-ignition internal combustion piston engines in GCC surged to X units, increasing by X% against 2022 figures. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of X units. From 2022 to 2023, the growth of imports failed to regain momentum.

In value terms, internal combustion engines imports shrank to $X in 2023. Overall, imports, however, continue to indicate a perceptible slump. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2023, imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X units) and Saudi Arabia (X units) prevails in imports structure, together achieving X% of total imports. Qatar (X units) took a minor share of total imports.

From 2012 to 2023, 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 mixed trends in the imports figures.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported motor vehicles compression-ignition internal combustion piston engines in GCC, comprising X% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total imports.

In the United Arab Emirates, internal combustion engines imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (X% per year) and Qatar (X% per year).

Import Prices by Country

In 2023, the import price in GCC amounted to $X per unit, shrinking by X% against the previous year. Overall, the import price continues to indicate a perceptible decline. The most prominent rate of growth was recorded in 2022 when the import price increased by X%. As a result, import price attained the peak level of $X per unit, and then contracted dramatically in the following year.

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

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

Source: IndexBox Platform