GCC: Agricultural Product Dryer Market 2024

Agricultural Product Dryer Market Size in GCC

The GCC agricultural product dryer market expanded markedly to $X in 2021, increasing by 5.1% against the previous year. Overall, consumption saw a noticeable expansion. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Agricultural Product Dryer Production in GCC

In value terms, agricultural product dryer production amounted to $X in 2021 estimated in export price. In general, production, however, posted moderate growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 56% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Agricultural Product Dryer Exports

Exports in GCC

In 2021, shipments abroad of dryers for the treatment of agricultural products decreased by -60% to X units, falling for the third year in a row after three years of growth. In general, exports, however, showed strong growth. The growth pace was the most rapid in 2018 with an increase of 175% against the previous year. As a result, the exports reached the peak of X units. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, agricultural product dryer exports shrank remarkably to $X in 2021. Over the period under review, exports, however, continue to indicate buoyant growth. The growth pace was the most rapid in 2018 with an increase of 238%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, the United Arab Emirates (X units) was the main exporter of dryers for the treatment of agricultural products, making up 75% of total exports. It was distantly followed by Saudi Arabia (X units), constituting a 25% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the dryers for the treatment of agricultural products exports, with a CAGR of +13.0% from 2012 to 2021. Saudi Arabia experienced a relatively flat trend pattern. While the share of the United Arab Emirates (+25 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Saudi Arabia (-25 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) and Saudi Arabia ($X) were the countries with the highest levels of exports in 2021.

In terms of the main exporting countries, Saudi Arabia, with a CAGR of +32.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per unit, rising by 12% against the previous year. Export price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, agricultural product dryer export price increased by +34.9% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the export price increased by 111% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2021, the export prices failed to regain momentum.

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 Saudi Arabia ($X per unit), while the United Arab Emirates stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+32.0%).

Agricultural Product Dryer Imports

Imports in GCC

In 2021, supplies from abroad of dryers for the treatment of agricultural products increased by 66% to X units for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, faced a precipitous decrease. The pace of growth was the most pronounced in 2016 when imports increased by 1,252% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, agricultural product dryer imports reduced to $X in 2021. Over the period under review, imports, however, recorded a abrupt descent. The pace of growth was the most pronounced in 2013 when imports increased by 145% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X units) and Oman (X units) represented the key importers of dryers for the treatment of agricultural products in 2021, amounting to near 37% and 32% of total imports, respectively. Qatar (X units) took the next position in the ranking, distantly followed by Bahrain (X units). All these countries together held approx. 27% share of total imports. Kuwait (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Bahrain (with a CAGR of +16.7%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported dryers for the treatment of agricultural products in GCC, comprising 80% of total imports. The second position in the ranking was held by Bahrain ($X), with a 7.3% share of total imports. It was followed by Qatar, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates amounted to -6.1%. The remaining importing countries recorded the following average annual rates of imports growth: Bahrain (+21.2% per year) and Qatar (-5.7% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per unit, falling by -43.8% against the previous year. Overall, the import price, however, showed resilient growth. The growth pace was the most rapid in 2017 an increase of 1,001%. Over the period under review, import prices attained the maximum at $X per unit in 2020, and then dropped rapidly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Oman ($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 (+19.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform