Middle East's Inductors Market to Reach 3.3B Units by 2035, Valued at $45.2B - News and Statistics - IndexBox

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IndexBox has just published a new report: Middle East - Inductors - Market Analysis, Forecast, Size, Trends And Insights.

Driven by rising demand, the Middle East inductor market is expected to see continued growth over the next decade. Market performance is forecast to expand at a steady rate, with a projected increase in both market volume and value by the end of 2035.

Driven by increasing demand for inductors in the Middle East, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.5% for the period from 2024 to 2035, which is projected to bring the market volume to 3.3B units by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.5% for the period from 2024 to 2035, which is projected to bring the market value to $45.2B (in nominal wholesale prices) by the end of 2035.

Inductor consumption rose markedly to 2.9B units in 2024, with an increase of 6.9% on the previous year. The total consumption volume increased at an average annual rate of +3.6% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The volume of consumption peaked at 3.1B units in 2016; however, from 2017 to 2024, consumption stood at a somewhat lower figure.

The revenue of the inductor market in the Middle East stood at $31.1B in 2024, picking up by 9.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The total consumption indicated a strong increase from 2013 to 2024: its value increased at an average annual rate of +7.3% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -8.2% against 2022 indices. As a result, consumption reached the peak level of $33.8B. From 2023 to 2024, the growth of the market failed to regain momentum.

The countries with the highest volumes of consumption in 2024 were Turkey (1B units), Saudi Arabia (783M units) and Iraq (303M units), with a combined 73% share of total consumption. Israel, Oman, Syrian Arab Republic and Jordan lagged somewhat behind, together comprising a further 21%.

From 2013 to 2024, the biggest increases were recorded for Oman (with a CAGR of +15.2%), while consumption for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($16.6B) led the market, alone. The second position in the ranking was taken by Iraq ($6.5B). It was followed by Turkey.

In Saudi Arabia, the inductor market expanded at an average annual rate of +15.0% over the period from 2013-2024. The remaining consuming countries recorded the following average annual rates of market growth: Iraq (+0.8% per year) and Turkey (+1.9% per year).

The countries with the highest levels of inductor per capita consumption in 2024 were Oman (24 units per person), Israel (23 units per person) and Saudi Arabia (21 units per person).

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Oman (with a CAGR of +11.3%), while consumption for the other leaders experienced more modest paces of growth.

In 2024, inductor production in the Middle East expanded remarkably to 2.8B units, surging by 7.3% compared with the previous year. The total output volume increased at an average annual rate of +3.5% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2022 when the production volume increased by 34%. Over the period under review, production reached the maximum volume at 3.1B units in 2016; however, from 2017 to 2024, production stood at a somewhat lower figure.

In value terms, inductor production rose sharply to $31.8B in 2024 estimated in export price. The total production indicated a strong increase from 2013 to 2024: its value increased at an average annual rate of +7.2% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -8.4% against 2022 indices. The most prominent rate of growth was recorded in 2022 with an increase of 51%. As a result, production reached the peak level of $34.7B. From 2023 to 2024, production growth remained at a lower figure.

The countries with the highest volumes of production in 2024 were Turkey (1B units), Saudi Arabia (782M units) and Iraq (303M units), with a combined 74% share of total production. Israel, Oman, Syrian Arab Republic and Jordan lagged somewhat behind, together comprising a further 21%.

From 2013 to 2024, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Oman (with a CAGR of +15.3%), while production for the other leaders experienced more modest paces of growth.

In 2024, supplies from abroad of inductors decreased by -15.9% to 42M units for the first time since 2016, thus ending a seven-year rising trend. Overall, imports, however, continue to indicate a strong expansion. The growth pace was the most rapid in 2014 with an increase of 64%. The volume of import peaked at 50M units in 2023, and then plummeted in the following year.

In value terms, inductor imports totaled $206M in 2024. Total imports indicated tangible growth from 2013 to 2024: its value increased at an average annual rate of +2.9% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports decreased by -14.2% against 2022 indices. The growth pace was the most rapid in 2021 with an increase of 37% against the previous year. Over the period under review, imports reached the maximum at $240M in 2022; however, from 2023 to 2024, imports remained at a lower figure.

In 2024, the United Arab Emirates (24M units) represented the major importer of inductors, constituting 58% of total imports. It was distantly followed by Turkey (9.4M units) and Israel (6.1M units), together generating a 37% share of total imports. The following importers - Saudi Arabia (856K units) and Iran (630K units) - each resulted at a 3.6% share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of +20.7% from 2013 to 2024. At the same time, Israel (+22.1%), Saudi Arabia (+20.7%) and Turkey (+19.2%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +22.1% from 2013-2024. By contrast, Iran (-1.8%) illustrated a downward trend over the same period. From 2013 to 2024, the share of the United Arab Emirates, Israel and Turkey increased by +13, +4.6 and +2.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($71M), Saudi Arabia ($56M) and Israel ($37M) appeared to be the countries with the highest levels of imports in 2024, with a combined 80% share of total imports.

Israel, with a CAGR of +4.9%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

In 2024, the import price in the Middle East amounted to $5 per unit, with an increase of 24% against the previous year. Over the period under review, the import price, however, saw a deep downturn. The most prominent rate of growth was recorded in 2016 an increase of 200% against the previous year. As a result, import price reached the peak level of $28 per unit. From 2017 to 2024, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was Saudi Arabia ($66 per unit), while the United Arab Emirates ($787 per thousand units) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Iran (+0.8%), while the other leaders experienced a decline in the import price figures.

In 2024, the amount of inductors exported in the Middle East dropped to 11M units, almost unchanged from the previous year. In general, exports showed a noticeable decrease. The growth pace was the most rapid in 2019 with an increase of 26%. The volume of export peaked at 15M units in 2014; however, from 2015 to 2024, the exports remained at a lower figure.

In value terms, inductor exports shrank markedly to $38M in 2024. Overall, exports saw a pronounced downturn. The growth pace was the most rapid in 2016 when exports increased by 20% against the previous year. As a result, the exports attained the peak of $74M. From 2017 to 2024, the growth of the exports remained at a lower figure.

In 2024, Israel (6.1M units) represented the largest exporter of inductors, achieving 56% of total exports. Turkey (3.4M units) took the second position in the ranking, distantly followed by Oman (1.1M units). All these countries together took approx. 41% share of total exports. The United Arab Emirates (176K units) followed a long way behind the leaders.

From 2013 to 2024, the biggest increases were recorded for Oman (with a CAGR of +79.2%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest inductor supplying countries in the Middle East were Israel ($14M), Turkey ($13M) and Oman ($5.4M), with a combined 84% share of total exports.

Oman, with a CAGR of +51.6%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

In 2024, the export price in the Middle East amounted to $3.5 per unit, shrinking by -16.2% against the previous year. In general, the export price saw a noticeable curtailment. The most prominent rate of growth was recorded in 2017 an increase of 64% against the previous year. As a result, the export price attained the peak level of $8.6 per unit. From 2018 to 2024, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was the United Arab Emirates ($23 per unit), while Israel ($2.3 per unit) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+8.4%), while the other leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the inductor market in the Middle East. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and Its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Exports

The Latest Trends and Insights into The Industry

The Largest Importers on The Market and How They Succeed

The Largest Exporters on The Market and How They Succeed

The Largest Producers on The Market and Their Profiles

The Largest Markets And Their Profiles