GCC: Wood Bending Machine Market 2024

Wood Bending Machine Market Size in GCC

In 2021, the GCC wood bending machine market increased by 40% to $X, rising for the second year in a row after four years of decline. Overall, consumption, however, recorded a abrupt contraction. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Wood Bending Machine Production in GCC

In value terms, wood bending machine production rose remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, showed a deep downturn. The most prominent rate of growth was recorded in 2013 with an increase of 14% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Wood Bending Machine Exports

Exports in GCC

After three years of decline, overseas shipments of bending or assembling machines increased by 4.7% to X units in 2021. In general, exports showed a noticeable increase. The pace of growth was the most pronounced in 2013 when exports increased by 113% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, wood bending machine exports fell to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2017 when exports increased by 90% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X units) and Kuwait (X units) represented the major exporters of bending or assembling machines in 2021, reaching near 40% and 34% of total exports, respectively. It was distantly followed by the United Arab Emirates (X units), mixing up a 21% share of total exports. Oman (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Kuwait (with a CAGR of +31.2%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the United Arab Emirates ($X), Kuwait ($X) and Saudi Arabia ($X) were the countries with the highest levels of exports in 2021, with a combined 97% share of total exports. These countries were followed by Oman, which accounted for a further 2.5%.

Oman, with a CAGR of +11.1%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per unit in 2021, which is down by -14% against the previous year. Overall, the export price saw a abrupt downturn. The growth pace was the most rapid in 2020 when the export price increased by 45% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+27.7%), while the other leaders experienced a decline in the export price figures.

Wood Bending Machine Imports

Imports in GCC

In 2021, supplies from abroad of bending or assembling machines increased by 17% to X units, rising for the second year in a row after four years of decline. Over the period under review, imports, however, continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 7,609% against the previous year. The volume of import peaked at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, wood bending machine imports reduced rapidly to $X in 2021. Overall, imports, however, recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2020 with an increase of 1,623% against the previous year. As a result, imports reached the peak of $X, and then fell sharply in the following year.

Imports by Country

Qatar dominates imports structure, accounting for X units, which was approx. 97% of total imports in 2021. The United Arab Emirates (X units) followed a long way behind the leaders.

Imports into Qatar decreased at an average annual rate of -14.2% from 2012 to 2021. At the same time, the United Arab Emirates (+26.3%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in GCC, with a CAGR of +26.3% from 2012-2021. While the share of the United Arab Emirates (+2.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Qatar (-3.2 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported bending or assembling machines in GCC, comprising 83% of total imports. The second position in the ranking was held by Qatar ($X), with a 4.7% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates stood at +19.1%.

Import Prices by Country

The import price in GCC stood at $X per unit in 2021, falling by -80.1% against the previous year. Over the period under review, the import price, however, posted a strong expansion. The pace of growth appeared the most rapid in 2019 when the import price increased by 4,293% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Qatar totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+9.3%).

Source: IndexBox Platform