GCC: Flywheels And Pulleys Market 2024

Flywheels And Pulleys Market Size in GCC

The GCC flywheels and pulleys market expanded sharply to $X in 2021, surging by 12% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Flywheels And Pulleys Production in GCC

In value terms, flywheels and pulleys production expanded slightly to $X in 2021 estimated in export price. The total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -3.1% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 64%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Flywheels And Pulleys Exports

Exports in GCC

In 2021, approx. X tons of flywheels and pulleys were exported in GCC; with an increase of 44% on 2020 figures. Total exports indicated a modest expansion from 2012 to 2021: its volume increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 73%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, flywheels and pulleys exports surged to $X in 2021. Total exports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -0.9% against 2019 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 75% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; afterwards, it flattened through to 2021.

Exports by Country

The United Arab Emirates represented the largest exporting country with an export of about X tons, which resulted at 86% of total exports. It was distantly followed by Oman (X tons), committing a 12% share of total exports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of flywheels and pulleys. At the same time, Oman (+25.2%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +25.2% from 2012-2021. Oman (+11 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -7.2% from 2012 to 2021, respectively.

In value terms, the United Arab Emirates ($X) remains the largest flywheels and pulleys supplier in GCC, comprising 86% of total exports. The second position in the ranking was held by Oman ($X), with a 12% share of total exports.

In the United Arab Emirates, flywheels and pulleys exports expanded at an average annual rate of +5.8% over the period from 2012-2021.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, waning by -5.2% against the previous year. Export price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, flywheels and pulleys export price decreased by -15.3% against 2019 indices. The pace of growth was the most pronounced in 2016 an increase of 44% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.0%).

Flywheels And Pulleys Imports

Imports in GCC

In 2021, flywheels and pulleys imports in GCC surged to X tons, growing by 17% on 2020. In general, imports, however, showed a pronounced downturn. The growth pace was the most rapid in 2013 when imports increased by 38% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, flywheels and pulleys imports surged to $X in 2021. Overall, imports, however, continue to indicate a noticeable reduction. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates was the main importing country with an import of about X tons, which recorded 52% of total imports. Saudi Arabia (X tons) ranks second in terms of the total imports with a 25% share, followed by Oman (11%). Kuwait (X tons), Qatar (X tons) and Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to flywheels and pulleys imports into the United Arab Emirates stood at +6.8%. At the same time, Qatar (+14.0%), Bahrain (+12.8%) and Kuwait (+1.9%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +14.0% from 2012-2021. Oman experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-11.7%) illustrated a downward trend over the same period. The United Arab Emirates (+29 p.p.), Qatar (+2.8 p.p.), Oman (+2.7 p.p.) and Bahrain (+2.4 p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia saw its share reduced by -37.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported flywheels and pulleys in GCC, comprising 54% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 19% share of total imports. It was followed by Oman, with a 14% share.

In the United Arab Emirates, flywheels and pulleys imports increased at an average annual rate of +1.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (-11.7% per year) and Oman (-2.8% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, surging by 11% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 25% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 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 Qatar ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform