Bahrain: Stone Polishing Machine Market 2024

Stone Polishing Machine Market Size in Bahrain

The Bahraini stone polishing machine market shrank to $X in 2022, dropping by -9.9% against the previous year. Overall, consumption, however, saw moderate growth. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Stone Polishing Machine Production in Bahrain

In value terms, stone polishing machine production rose markedly to $X in 2022 estimated in export price. In general, the total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +6.0% against 2017 indices. The most prominent rate of growth was recorded in 2016 with an increase of 38% against the previous year. Over the period under review, production hit record highs in 2022 and is expected to retain growth in the near future.

Stone Polishing Machine Exports

Exports from Bahrain

In 2022, approx. X units of grinding or polishing machines for working stone, ceramics and concrete were exported from Bahrain; rising by 643% on the year before. In general, exports showed a significant increase. The growth pace was the most rapid in 2020 with an increase of 1,306%. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, stone polishing machine exports soared to $X in 2022. Over the period under review, exports recorded significant growth. The growth pace was the most rapid in 2020 with an increase of 4,277%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units) and Egypt (X units) were the main destinations of stone polishing machine exports from Bahrain. Moreover, stone polishing machine exports in the United Arab Emirates exceeded the figures recorded by the second-largest exporter, Egypt, twofold.

From 2013 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +8.0%).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for grinding or polishing machines for working stone, ceramics and concrete exports from Bahrain, comprising 9.1% of total exports. The second position in the ranking was held by Egypt ($X), with a 2.4% share of total exports.

From 2013 to 2022, the average annual growth rate of value to the United Arab Emirates amounted to +67.2%.

Export Prices by Country

In 2022, the average stone polishing machine export price amounted to $X per unit, picking up by 161% against the previous year. Over the period under review, the export price enjoyed a noticeable expansion. The most prominent rate of growth was recorded in 2020 an increase of 211% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Egypt totaled $X per unit.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+221.6%), while the prices for the other major destinations experienced more modest paces of growth.

Stone Polishing Machine Imports

Imports into Bahrain

For the fourth year in a row, Bahrain recorded decline in purchases abroad of grinding or polishing machines for working stone, ceramics and concrete, which decreased by -6.2% to X units in 2022. In general, imports, however, recorded slight growth. The most prominent rate of growth was recorded in 2018 when imports increased by 271%. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, stone polishing machine imports skyrocketed to $X in 2022. Over the period under review, imports, however, enjoyed strong growth. The growth pace was the most rapid in 2018 when imports increased by 139% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest stone polishing machine supplier to Bahrain, accounting for a 43% share of total imports. Moreover, stone polishing machine imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. The third position in this ranking was taken by Italy (X units), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +18.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+28.2% per year) and Italy (-12.3% per year).

In value terms, the largest stone polishing machine suppliers to Bahrain were China ($X), Bulgaria ($X) and South Korea ($X), with a combined 81% share of total imports.

In terms of the main suppliers, South Korea, with a CAGR of +30.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average stone polishing machine import price amounted to $X per unit, surging by 30% against the previous year. Overall, the import price recorded a measured increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by 135% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Bulgaria ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+10.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform