GCC: Sugar-Manufacturing Industrial Machinery Market 2024

Sugar-Manufacturing Industrial Machinery Market Size in GCC

The GCC sugar-manufacturing industrial machinery market skyrocketed to $X in 2022, surging by 38% against the previous year. In general, consumption recorded a modest expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Sugar-Manufacturing Industrial Machinery Production in GCC

In value terms, sugar-manufacturing industrial machinery production expanded significantly to $X in 2022 estimated in export price. Overall, production showed a moderate increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by 55% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Sugar-Manufacturing Industrial Machinery Exports

Exports in GCC

Sugar-manufacturing industrial machinery exports dropped markedly to X units in 2022, waning by -37.8% on 2021 figures. In general, exports, however, continue to indicate a strong increase. The pace of growth was the most pronounced in 2018 with an increase of 213% against the previous year. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, sugar-manufacturing industrial machinery exports fell to $X in 2022. Over the period under review, exports, however, showed a significant expansion. The growth pace was the most rapid in 2015 when exports increased by 199% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, the United Arab Emirates (X units) represented the major exporter of industrial machinery for the manufacture or preparation of sugar in GCC, generating 100% of total export.

The United Arab Emirates was also the fastest-growing in terms of the industrial machinery for the manufacture or preparation of sugar exports, with a CAGR of +17.6% from 2012 to 2022. The United Arab Emirates (+33 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest sugar-manufacturing industrial machinery supplier in GCC.

In the United Arab Emirates, sugar-manufacturing industrial machinery exports expanded at an average annual rate of +27.2% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, increasing by 37% against the previous year. In general, the export price continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2017 an increase of 116% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +8.2% per year.

Sugar-Manufacturing Industrial Machinery Imports

Imports in GCC

Sugar-manufacturing industrial machinery imports surged to X units in 2022, with an increase of 75% against 2021. Overall, imports posted a resilient expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 197%. The volume of import peaked at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, sugar-manufacturing industrial machinery imports surged to $X in 2022. Over the period under review, imports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2018 when imports increased by 10,486% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X units) was the major importer of industrial machinery for the manufacture or preparation of sugar, generating 66% of total imports. Kuwait (X units) took a 16% share (based on physical terms) of total imports, which put it in second place, followed by Oman (9.3%) and Qatar (8.1%).

Imports into the United Arab Emirates increased at an average annual rate of +16.2% from 2012 to 2022. At the same time, Qatar (+87.1%), Kuwait (+18.8%) and Oman (+13.5%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +87.1% from 2012-2022. Qatar (+8.1 p.p.) and Kuwait (+2 p.p.) significantly strengthened its position in terms of the total imports, while Oman and the United Arab Emirates saw its share reduced by -3.6% and -6.6% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported industrial machinery for the manufacture or preparation of sugar in GCC, comprising 90% of total imports. The second position in the ranking was held by Kuwait ($X), with a 6% share of total imports. It was followed by Qatar, with a 2% share.

In the United Arab Emirates, sugar-manufacturing industrial machinery imports increased at an average annual rate of +14.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (+9.3% per year) and Qatar (+38.4% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, jumping by 142% against the previous year. In general, the import price, however, showed a dramatic contraction. The pace of growth appeared the most rapid in 2018 an increase of 22,940%. As a result, import price reached the peak level of $X per unit. From 2019 to 2022, the import prices remained at a lower figure.

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 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform