saudi arabia Tire Pressure Monitoring System Market Shipment Analysis
Saudi Arabia Tire Pressure Monitoring System Market registered a decline of -63.96% in value shipments in 2021 as compared to 2020 and an increase of 2.81% CAGR in 2021 over a period of 2017. In Tire Pressure Monitoring System Market Saudi Arabia is becoming less competitive as HHI index in 2021 was 2903 while in 2017 it was 1599. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
Saudi Arabia has reportedly relied more on imports to meet its growing demand in Tire Pressure Monitoring System Market. India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Tire Pressure Monitoring System Market in 2021 was 5.12 while in 2017 it was 19.3. France, Germany, China, Canada and Czechia were among the top players of the market in 2021, where France acquired the largest market share of 38.98% with a shipment value of 11.99 million USD in 2022 France also offered the product below the average market price thus having a competitive advantage over others In 2017 USA had the largest market share of 33.81% with the shipment value of 25.12 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As USA price is lower than the average price, it provided a significant edge among other competitor in 2017.
