GCC: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in GCC

After three years of growth, the GCC market for vacuum pumps and air or gas compressors decreased by -48.7% to $X in 2022. In general, consumption recorded a abrupt slump. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Vacuum Pumps and Air or Gas Compressors in GCC

In value terms, production of vacuum pumps and air or gas compressors totaled $X in 2022 estimated in export price. The total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +1.0% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 22%. Over the period under review, production of hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports in GCC

In 2022, approx. X units of vacuum pumps and air or gas compressors were exported in GCC; dropping by -13.3% against 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by 56% against the previous year. Over the period under review, the exports of hit record highs at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, exports of vacuum pumps and air or gas compressors dropped notably to $X in 2022. Overall, exports, however, continue to indicate a noticeable increase. The pace of growth appeared the most rapid in 2015 when exports increased by 105%. Over the period under review, the exports of hit record highs at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates dominates compressors structure, finishing at X units, which was approx. 82% of total exports in 2022. It was distantly followed by Bahrain (X units), making up a 9.5% share of total exports. Oman (X units) and Saudi Arabia (X units) followed a long way behind the leaders.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of vacuum pumps and air or gas compressors. At the same time, Oman (+21.8%), Bahrain (+13.9%) and Saudi Arabia (+1.8%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +21.8% from 2012-2022. Bahrain (+6.8 p.p.) and Oman (+3.8 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -10.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest vacuum pump and air or gas compressor supplier in GCC, comprising 61% of total exports. The second position in the ranking was held by Oman ($X), with an 18% share of total exports. It was followed by Saudi Arabia, with a 9.8% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled +2.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (+25.9% per year) and Saudi Arabia (-4.8% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, shrinking by -4% against the previous year. Export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for vacuum pumps and air or gas compressors increased by +25.0% against 2020 indices. The most prominent rate of growth was recorded in 2015 an increase of 31%. The level of export peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+3.4%), while the other leaders experienced mixed trends in the export price figures.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports in GCC

In 2022, purchases abroad of vacuum pumps and air or gas compressors decreased by -24.8% to X units for the first time since 2018, thus ending a three-year rising trend. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 50% against the previous year. Over the period under review, imports of hit record highs at X units in 2021, and then shrank rapidly in the following year.

In value terms, imports of vacuum pumps and air or gas compressors reduced to $X in 2022. Over the period under review, imports showed a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of 16%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates prevails in compressors structure, reaching X units, which was approx. 85% of total imports in 2022. It was distantly followed by Kuwait (X units), creating an 8.6% share of total imports. The following importers - Bahrain (X units), Qatar (X units) and Oman (X units) - each accounted for a 6.2% share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the vacuum pumps and air or gas compressors imports, with a CAGR of +6.3% from 2012 to 2022. At the same time, Qatar (+4.6%), Kuwait (+4.5%) and Oman (+1.4%) displayed positive paces of growth. By contrast, Bahrain (-10.1%) illustrated a downward trend over the same period. The United Arab Emirates (+40 p.p.) and Kuwait (+3.3 p.p.) significantly strengthened its position in terms of the total imports, while Bahrain saw its share reduced by -4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported vacuum pumps and air or gas compressors in GCC, comprising 59% of total imports. The second position in the ranking was held by Kuwait ($X), with a 7.8% share of total imports. It was followed by Oman, with a 6.4% share.

In the United Arab Emirates, imports of vacuum pumps and air or gas compressors remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (-7.8% per year) and Oman (+0.6% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, surging by 22% against the previous year. In general, the import price, however, recorded a deep reduction. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Oman ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+5.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform