MENA: Truck Market 2024

Truck Market Size in MENA

The MENA's truck market dropped slightly to $X in 2022, which is down by X% against the previous year. Overall, consumption continues to indicate a noticeable curtailment. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Truck Production in MENA

In value terms, truck production fell to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, production attained the peak level of $X, and then fell in the following year.

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Truck Exports

Exports in MENA

In 2022, overseas shipments of trucks increased by X% to X units, rising for the second consecutive year after three years of decline. Total exports indicated a prominent 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 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, truck exports surged to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, Turkey (X units) was the major exporter of trucks, mixing up X% of total exports. The United Arab Emirates (X units) held the second position in the ranking, distantly followed by Kuwait (X units). All these countries together held near X% share of total exports. The following exporters - Oman (X units) and Saudi Arabia (X units) - each reached a X% share of total exports.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) and Kuwait (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. By contrast, Saudi Arabia (X%) and Oman (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.) and Kuwait (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia, Oman and Turkey saw its share reduced by X%, X% and X% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest truck supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Kuwait, with a X% share.

In Turkey, truck exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Kuwait (X% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2022, which is down by X% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of X%. The level of export peaked at $X per unit in 2021, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per unit), while Oman ($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 a decline in the export price figures.

Truck Imports

Imports in MENA

In 2022, the amount of trucks imported in MENA soared to X units, jumping by X% on 2021 figures. In general, imports, however, showed a noticeable setback. The volume of import peaked at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, truck imports surged to $X in 2022. Overall, imports, however, continue to indicate a noticeable setback. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the twelve major importers of trucks, namely the United Arab Emirates, Kuwait, Saudi Arabia, Turkey, Iraq, Israel, Oman, Yemen, Algeria, Morocco, Libya and Jordan, represented more than two-thirds of total import.

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

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

Kuwait, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per unit in 2022, dropping by X% against the previous year. Overall, the import price, however, showed a modest expansion. The growth pace was the most rapid in 2017 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2018; however, from 2019 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 Israel ($X per unit), while Yemen ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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