GCC: Wood Drilling Machine Market 2024

Wood Drilling Machine Market Size in GCC

The GCC wood drilling machine market rose notably to $X in 2021, picking up by 5.5% against the previous year. In general, consumption enjoyed a prominent expansion. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Wood Drilling Machine Production in GCC

In value terms, wood drilling machine production amounted to $X in 2021 estimated in export price. Over the period under review, production enjoyed a resilient increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by 66%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Wood Drilling Machine Exports

Exports in GCC

In 2021, the amount of drilling or morticing machines exported in GCC declined significantly to X units, dropping by -18.1% on the previous year. Over the period under review, exports showed a noticeable shrinkage. The growth pace was the most rapid in 2014 when exports increased by 275%. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, wood drilling machine exports reduced to $X in 2021. In general, exports saw a perceptible descent. The most prominent rate of growth was recorded in 2014 with an increase of 289% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates represented the key exporting country with an export of around X units, which recorded 77% of total exports. It was distantly followed by Bahrain (X units), committing a 14% share of total exports. The following exporters - Saudi Arabia (X units) and Kuwait (X units) - each accounted for a 7.8% share of total exports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of drilling or morticing machines. At the same time, Bahrain (+10.7%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in GCC, with a CAGR of +10.7% from 2012-2021. By contrast, Kuwait (-7.1%) and Saudi Arabia (-23.1%) illustrated a downward trend over the same period. The United Arab Emirates (+20 p.p.) and Bahrain (+9.5 p.p.) significantly strengthened its position in terms of the total exports, while Kuwait and Saudi Arabia saw its share reduced by -1.6% and -29.4% from 2012 to 2021, respectively.

In value terms, the United Arab Emirates ($X) remains the largest wood drilling machine supplier in GCC, comprising 84% of total exports. The second position in the ranking was taken by Kuwait ($X), with a 7.9% share of total exports. It was followed by Bahrain, with a 5.1% share.

In the United Arab Emirates, wood drilling machine exports increased at an average annual rate of +6.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Kuwait (+15.0% per year) and Bahrain (-18.0% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2021, rising by 16% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the export price increased by 75%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Kuwait ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+23.9%), while the other leaders experienced mixed trends in the export price figures.

Wood Drilling Machine Imports

Imports in GCC

In 2021, overseas purchases of drilling or morticing machines increased by 82% to X units, rising for the second year in a row after three years of decline. Over the period under review, imports, however, recorded a abrupt setback. The pace of growth appeared the most rapid in 2020 with an increase of 154% against the previous year. The volume of import peaked at X units in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, wood drilling machine imports fell to $X in 2021. In general, imports, however, showed a drastic downturn. The pace of growth was the most pronounced in 2015 with an increase of 59% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Qatar dominates imports structure, amounting to X units, which was near 91% of total imports in 2021. It was distantly followed by the United Arab Emirates (X units), committing an 8.7% share of total imports.

Imports into Qatar decreased at an average annual rate of -14.0% from 2012 to 2021. At the same time, the United Arab Emirates (+4.4%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in GCC, with a CAGR of +4.4% from 2012-2021. While the share of the United Arab Emirates (+7.1 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Qatar (-7.1 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported drilling or morticing machines in GCC, comprising 70% of total imports. The second position in the ranking was taken by Qatar ($X), with a 5.7% share of total imports.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates was relatively modest.

Import Prices by Country

In 2021, the import price in GCC amounted to $X per unit, reducing by -52.1% against the previous year. Overall, the import price, however, saw a tangible increase. The growth pace was the most rapid in 2017 when the import price increased by 342% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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 stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (-2.8%).

Source: IndexBox Platform