GCC: Endless Machinery Band Market 2025

Endless Machinery Band Market Size in GCC

For the third year in a row, the GCC endless machinery band market recorded growth in sales value, which increased by 151% to $X in 2021. Overall, consumption saw significant growth. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the near future.

Endless Machinery Band Production in GCC

In value terms, endless machinery band production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a deep reduction. The growth pace was the most rapid in 2020 when the production volume increased by 27% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Endless Machinery Band Exports

Exports in GCC

In 2021, shipments abroad of endless bands for machinery, of stainless steel increased by 20% to X square meters, rising for the fourth consecutive year after two years of decline. Over the period under review, exports showed buoyant growth. The pace of growth appeared the most rapid in 2015 when exports increased by 199% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, endless machinery band exports amounted to $X in 2021. In general, exports enjoyed a moderate expansion. The pace of growth appeared the most rapid in 2015 with an increase of 127% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

The shipments of the three major exporters of endless bands for machinery, of stainless steel, namely Oman, Saudi Arabia and the United Arab Emirates, represented more than two-thirds of total export. It was distantly followed by Kuwait (X square meters), generating a 14% share of total exports. Bahrain (X square meters) held a relatively small share of total exports.

From 2012 to 2021, the biggest increases were in Kuwait (with a CAGR of +56.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bahrain ($X), Saudi Arabia ($X) and Oman ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 75% of total exports. The United Arab Emirates and Kuwait lagged somewhat behind, together accounting for a further 25%.

Kuwait, with a CAGR of +59.8%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in GCC stood at $X per square meter in 2021, reducing by -13% against the previous year. Over the period under review, the export price continues to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2018 an increase of 19% against the previous year. Over the period under review, the export prices attained the peak figure at $X per square meter in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Bahrain ($X per square meter), while Oman ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+23.6%), while the other leaders experienced mixed trends in the export price figures.

Endless Machinery Band Imports

Imports in GCC

In 2021, purchases abroad of endless bands for machinery, of stainless steel increased by 79% to X square meters, rising for the third year in a row after three years of decline. Over the period under review, imports saw a significant increase. The growth pace was the most rapid in 2013 when imports increased by 291% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, endless machinery band imports surged to $X in 2021. Overall, imports continue to indicate a pronounced expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Kuwait (X square meters) represented the key importer of endless bands for machinery, of stainless steel, generating 74% of total imports. It was distantly followed by Oman (X square meters), mixing up a 21% share of total imports. The following importers - the United Arab Emirates (X square meters) and Qatar (X square meters) - together made up 5.6% of total imports.

Kuwait was also the fastest-growing in terms of the endless bands for machinery, of stainless steel imports, with a CAGR of +93.0% from 2012 to 2021. At the same time, the United Arab Emirates (+15.1%) and Oman (+12.9%) displayed positive paces of growth. By contrast, Qatar (-1.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Kuwait increased by +72 percentage points.

In value terms, Kuwait ($X) constitutes the largest market for imported endless bands for machinery, of stainless steel in GCC, comprising 70% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 17% share of total imports. It was followed by Oman, with a 6.9% share.

In Kuwait, endless machinery band imports increased at an average annual rate of +56.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (+16.3% per year) and Oman (+4.0% per year).

Import Prices by Country

The import price in GCC stood at $X per square meter in 2021, rising by 27% against the previous year. Over the period under review, the import price, however, faced a drastic downturn. The pace of growth appeared the most rapid in 2014 an increase of 100%. Over the period under review, import prices attained the peak figure at $X per square meter in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per square meter), while Oman ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform