Middle East's Internal Combustion Engine Market Mixed in 2024
The Middle East's stock market today saw mixed trends in 2024. While exports and imports showed signs of recovery, consumption and market value experienced notable declines.
Turkey dominated exports, accounting for nearly X% of total exports with X units. This was a temperate increase from the previous year. Turkey also remained the largest market for imported equipment, comprising X% of total imports, valued at $X.
The consumption of internal combustion engine equipment in the Middle East has been decreasing since 2012, reaching a record high of $X in 2012. In 2024, approximately X units were imported, marking a X% surge from the previous year. However, the market value decreased by X% to $X, following three years of growth.
Exports of internal combustion engine equipment stood at $X in 2024, showing a temperate increase. This was driven by a X% rise in exports to X units, the second consecutive year of growth after two years of decline. Imports also rose slightly to $X in value terms.
Despite the decline in consumption and market value, the Middle East's internal combustion engine equipment market showed signs of recovery in 2024, with increased exports and imports. Turkey continued to be the dominant player in both exports and imports.
