GCC: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in GCC

The GCC hydraulic cylinder and system market was estimated at $X in 2022, surging by 2.4% against the previous year. In general, consumption, however, continues to indicate prominent growth. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Hydraulic Cylinders And Systems in GCC

In value terms, hydraulic cylinder and system production rose significantly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a prominent expansion. The growth pace was the most rapid in 2017 with an increase of 88%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Hydraulic Cylinders And Systems

Exports in GCC

In 2022, overseas shipments of hydraulic cylinders and systems increased by 31% to X units, rising for the sixth consecutive year after two years of decline. Over the period under review, exports, however, continue to indicate a slight decline. The pace of growth appeared the most rapid in 2019 when exports increased by 70% against the previous year. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, hydraulic cylinder and system exports declined dramatically to $X in 2022. In general, exports, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2021 with an increase of 49% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates prevails in exports structure, resulting at X units, which was approx. 82% of total exports in 2022. It was distantly followed by Oman (X units) and Saudi Arabia (X units), together comprising a 15% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to hydraulic cylinder and system exports from the United Arab Emirates stood at +17.6%. At the same time, Oman (+47.6%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +47.6% from 2012-2022. By contrast, Saudi Arabia (-10.7%) illustrated a downward trend over the same period. The United Arab Emirates (+68 p.p.) and Oman (+8.7 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by -11.8% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) remains the largest hydraulic cylinder and system supplier in GCC, comprising 82% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 10% share of total exports.

In the United Arab Emirates, hydraulic cylinder and system exports expanded at an average annual rate of +5.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (-8.7% per year) and Oman (+35.3% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, reducing by -36.3% against the previous year. Overall, the export price recorded a slight decrease. The most prominent rate of growth was recorded in 2016 an increase of 66%. The level of export peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while Oman (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+2.3%), while the other leaders experienced a decline in the export price figures.

Imports of Hydraulic Cylinders And Systems

Imports in GCC

In 2022, overseas purchases of hydraulic cylinders and systems decreased by -15.2% to X units for the first time since 2016, thus ending a five-year rising trend. In general, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2014 when imports increased by 41%. The volume of import peaked at X units in 2021, and then contracted notably in the following year.

In value terms, hydraulic cylinder and system imports amounted to $X in 2022. The total import value increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by 26% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates prevails in imports structure, resulting at X units, which was near 89% of total imports in 2022. It was distantly followed by Oman (X units), achieving a 6.7% share of total imports. Kuwait (X units) took a minor share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the hydraulic cylinders and systems imports, with a CAGR of +15.9% from 2012 to 2022. At the same time, Oman (+14.9%) and Kuwait (+1.7%) displayed positive paces of growth. From 2012 to 2022, the share of the United Arab Emirates and Oman increased by +41 and +2.8 percentage points, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported hydraulic cylinders and systems in GCC, comprising 54% of total imports. The second position in the ranking was held by Oman ($X), with a 6.4% share of total imports.

In the United Arab Emirates, hydraulic cylinder and system imports expanded at an average annual rate of +4.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Oman (+10.1% per year) and Kuwait (-5.0% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, with an increase of 19% against the previous year. Over the period under review, the import price, however, saw a noticeable decline. The most prominent rate of growth was recorded in 2016 an increase of 48%. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Oman ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (-4.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform