GCC: Construction Equipment Blade Market 2024

Construction Equipment Blade Market Size in GCC

The GCC construction equipment blade market reduced remarkably to $X in 2022, shrinking by -36.8% against the previous year. In general, consumption recorded a deep reduction. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Construction Equipment Blade Production in GCC

In value terms, construction equipment blade production totaled $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by 17% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Construction Equipment Blade Exports

Exports in GCC

In 2022, construction equipment blade exports in GCC shrank significantly to X units, reducing by -24.6% against the previous year. In general, exports, however, posted a tangible increase. The pace of growth was the most pronounced in 2013 with an increase of 129%. 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, construction equipment blade exports declined dramatically to $X in 2022. Over the period under review, exports, however, posted a tangible expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 191% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates represented the major exporting country with an export of about X units, which amounted to 51% of total exports. Oman (X units) took a 21% share (based on physical terms) of total exports, which put it in second place, followed by Bahrain (21%) and Kuwait (6.7%).

From 2012 to 2022, average annual rates of growth with regard to construction equipment blade exports from the United Arab Emirates stood at -2.4%. At the same time, Kuwait (+44.1%), Bahrain (+31.3%) and Oman (+24.4%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of +44.1% from 2012-2022. From 2012 to 2022, the share of Bahrain, Oman and Kuwait increased by +19, +18 and +6.5 percentage points, respectively.

In value terms, the United Arab Emirates ($X) remains the largest construction equipment blade supplier in GCC, comprising 61% of total exports. The second position in the ranking was held by Oman ($X), with a 19% share of total exports. It was followed by Bahrain, with a 12% share.

In the United Arab Emirates, construction equipment blade exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (+10.6% per year) and Bahrain (+10.6% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, growing by 10% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by 50% against the previous year. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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 the United Arab Emirates ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.9%), while the other leaders experienced a decline in the export price figures.

Construction Equipment Blade Imports

Imports in GCC

In 2022, imports of blades for construction equipment in GCC declined significantly to X units, dropping by -46.6% against the year before. Overall, imports saw a noticeable setback. The most prominent rate of growth was recorded in 2013 with an increase of 503%. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, construction equipment blade imports rose remarkably to $X in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 166% against the previous year. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X units) and Qatar (X units) prevails in imports structure, together achieving 91% of total imports. It was distantly followed by Oman (X units), generating a 7.4% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +1.9%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported blades for construction equipment in GCC, comprising 9.4% of total imports. The second position in the ranking was taken by Qatar ($X), with a 3.5% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to -2.0%. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (-20.2% per year) and Oman (-9.1% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, increasing by 100% against the previous year. Over the period under review, the import price recorded a noticeable expansion. The pace of growth was the most pronounced in 2020 when the import price increased by 169% against the previous year. As a result, import price attained the peak level of $X per unit. From 2021 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-3.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform