GCC: Market for Grinding, Sanding and Polishing Machines 2024

Market Size for Grinding, Sanding and Polishing Machines in GCC

The GCC market for grinding, sanding and polishing machines soared to $X in 2021, growing by 145% against the previous year. In general, consumption enjoyed perceptible growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Grinding, Sanding and Polishing Machines in GCC

In value terms, grinding, sanding and polishing machine production expanded notably to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a perceptible decline. The most prominent rate of growth was recorded in 2019 when the production volume increased by 71% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Grinding, Sanding and Polishing Machines

Exports in GCC

In 2021, exports of grinding, sanding and polishing machines in GCC skyrocketed to X units, increasing by 43% compared with the previous year. In general, exports posted measured growth. The growth pace was the most rapid in 2015 when exports increased by 334% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, grinding, sanding and polishing machine exports soared to $X in 2021. Over the period under review, exports, however, showed a slight reduction. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates was the largest exporter of grinding, sanding and polishing machines in GCC, with the volume of exports amounting to X units, which was approx. 64% of total exports in 2021. It was distantly followed by Saudi Arabia (X units), creating a 34% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Saudi Arabia (with a CAGR of +90.7%).

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

Saudi Arabia, with a CAGR of +57.9%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in GCC stood at $X per unit in 2021, growing by 39% against the previous year. In general, the export price, however, recorded a deep reduction. The growth pace was the most rapid in 2017 when the export price increased by 56%. Over the period under review, the export prices hit record highs at $X per unit 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, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while the United Arab Emirates amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-11.2%).

Imports of Grinding, Sanding and Polishing Machines

Imports in GCC

In 2021, overseas purchases of grinding, sanding and polishing machines increased by 87% to X units, rising for the second consecutive year after two years of decline. Overall, imports, however, continue to indicate a abrupt contraction. The growth pace was the most rapid in 2014 with an increase of 423% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, grinding, sanding and polishing machine imports soared to $X in 2021. In general, imports, however, saw a noticeable setback. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Qatar dominates imports structure, resulting at X units, which was near 85% of total imports in 2021. It was distantly followed by the United Arab Emirates (X units) and Kuwait (X units), together making up a 14% share of total imports.

Imports into Qatar decreased at an average annual rate of -8.9% from 2012 to 2021. At the same time, Kuwait (+31.7%) and the United Arab Emirates (+27.0%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of +31.7% from 2012-2021. From 2012 to 2021, the share of the United Arab Emirates and Kuwait increased by +9.2 and +4.4 percentage points, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported grinding, sanding and polishing machines in GCC, comprising 83% of total imports. The second position in the ranking was held by Qatar ($X), with a 9.1% share of total imports.

In the United Arab Emirates, grinding, sanding and polishing machine imports expanded at an average annual rate of +9.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Qatar (-6.3% per year) and Kuwait (+22.3% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2021, surging by 123% against the previous year. Over the period under review, the import price posted a tangible increase. The pace of growth was the most pronounced in 2015 an increase of 237% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2021, the import prices remained at a lower figure.

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 ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+2.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform