GCC: Market for Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process 2024

Market Size for Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process in GCC

In 2022, the GCC market for cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process decreased by X% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption recorded a precipitous slump. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process in GCC

In value terms, production of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process contracted slightly to $X in 2022 estimated in export price. Overall, production, however, showed temperate growth. The growth pace was the most rapid in 2016 when the production volume increased by X% against the previous year. Over the period under review, production of hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process

Exports in GCC

In 2022, shipments abroad of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process increased by X% to X units, rising for the second consecutive year after two years of decline. In general, exports saw a resilient expansion. The pace of growth appeared the most rapid in 2017 when exports increased by X%. Over the period under review, the exports of hit record highs at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, exports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process contracted to $X in 2022. Over the period under review, exports showed prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The shipments of the one major exporters of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process, namely the United Arab Emirates, represented more than two-thirds of total export.

The United Arab Emirates was also the fastest-growing in terms of the cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process exports, with a CAGR of X% from 2012 to 2022. The United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest machinery for material treatment by heating or cooling process supplier in GCC.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates totaled X%.

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, dropping by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per unit, and then contracted notably in the following year.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to X% per year.

Imports of Cooling Towers, Vacuum-Vapour Plants, And Other Machinery for Material Treatment by Heating or Cooling Process

Imports in GCC

In 2022, approx. X units of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process were imported in GCC; waning by X% compared with the previous year. Overall, imports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process dropped remarkably to $X in 2022. Over the period under review, imports showed a deep downturn. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates represented the largest importer of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process in GCC, with the volume of imports reaching X units, which was approx. X% of total imports in 2022. Qatar (X units) ranks second in terms of the total imports with a X% share, followed by Oman (X%) and Kuwait (X%). Bahrain (X units) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to machinery for material treatment by heating or cooling process imports into the United Arab Emirates stood at X%. At the same time, Qatar (X%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. By contrast, Oman (X%), Bahrain (X%) and Kuwait (X%) illustrated a downward trend over the same period. While the share of Qatar (X p.p.), Oman (X p.p.) and Bahrain (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Kuwait (X p.p.) and the United Arab Emirates (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process in GCC, comprising X% of total imports. The second position in the ranking was held by Kuwait ($X), with a X% share of total imports. It was followed by Oman, with a X% share.

In the United Arab Emirates, imports of cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process decreased by an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (X% per year) and Oman (X% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, increasing by X% against the previous year. Import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for cooling towers, vacuum-vapour plants, and other machinery for material treatment by heating or cooling process increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the import prices failed to regain momentum.

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 Kuwait ($X per unit), while Qatar ($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 (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform