Bahrain: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in Bahrain

The Bahraini machine-tool for drilling market expanded sharply to $X in 2022, with an increase of 8.5% 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). Over the period under review, consumption, however, showed a noticeable downturn. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Machine-Tool For Drilling Exports

Exports from Bahrain

In 2022, overseas shipments of machine-tools for drilling, boring or milling metal were finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. In general, exports posted a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 465%. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, machine-tool for drilling exports soared to $X in 2022. Overall, exports, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 347% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sweden (X units), the United Arab Emirates (X units) and Saudi Arabia (X units) were the main destinations of machine-tool for drilling exports from Bahrain, with a combined 91% share of total exports.

From 2012 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 +14.6%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for machine-tools for drilling, boring or milling metal exports from Bahrain, comprising 65% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 24% share of total exports. It was followed by Sweden, with a 1.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates amounted to +5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-3.2% per year) and Sweden (+28.5% per year).

Export Prices by Country

The average machine-tool for drilling export price stood at $X per unit in 2022, shrinking by -42.9% against the previous year. Over the period under review, the export price saw a dramatic curtailment. The pace of growth appeared the most rapid in 2018 an increase of 201% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+69.7%), while the prices for the other major destinations experienced mixed trend patterns.

Machine-Tool For Drilling Imports

Imports into Bahrain

In 2022, the amount of machine-tools for drilling, boring or milling metal imported into Bahrain surged to X units, increasing by 26% on the year before. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by 624%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, machine-tool for drilling imports skyrocketed to $X in 2022. Over the period under review, imports, however, recorded a deep downturn. The growth pace was the most rapid in 2017 with an increase of 366% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of machine-tool for drilling to Bahrain, accounting for a 84% share of total imports. Moreover, machine-tool for drilling imports from China exceeded the figures recorded by the second-largest supplier, India (X units), more than tenfold. The UK (X units) ranked third in terms of total imports with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +12.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+8.6% per year) and the UK (-11.8% per year).

In value terms, the largest machine-tool for drilling suppliers to Bahrain were China ($X), India ($X) and Germany ($X), together accounting for 61% of total imports. The UK, Sweden and Saudi Arabia lagged somewhat behind, together accounting for a further 1.3%.

Sweden, with a CAGR of +12.9%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average machine-tool for drilling import price amounted to $X per unit, surging by 23% against the previous year. Over the period under review, the import price, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2019 an increase of 747%. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per unit), while the price for Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform