GCC: Industrial Sewing Machine Market 2024

Industrial Sewing Machine Market Size in GCC

In 2022, the GCC industrial sewing machine market decreased by -12.9% to $X, falling for the second consecutive year after four years of growth. In general, consumption continues to indicate a noticeable setback. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Industrial Sewing Machine Production in GCC

In value terms, industrial sewing machine production reduced to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a remarkable increase. The growth pace was the most rapid in 2017 when the production volume increased by 1,393,031% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Industrial Sewing Machine Exports

Exports in GCC

For the fourth consecutive year, GCC recorded decline in shipments abroad of industrial sewing machines, which decreased by -2.6% to X units in 2022. In general, exports, however, recorded a moderate increase. The most prominent rate of growth was recorded in 2015 with an increase of 365% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, industrial sewing machine exports expanded slightly to $X in 2022. Over the period under review, exports continue to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of 334% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, reaching X units, which was approx. 94% of total exports in 2022. The following exporters - Bahrain (X units) and Oman (X units) - together made up 4.8% of total exports.

Exports from the United Arab Emirates increased at an average annual rate of +2.5% from 2012 to 2022. At the same time, Oman (+16.3%) and Bahrain (+4.1%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +16.3% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest industrial sewing machine supplier in GCC, comprising 90% of total exports. The second position in the ranking was taken by Bahrain ($X), with a 5.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates totaled -1.9%. In the other countries, the average annual rates were as follows: Bahrain (+7.4% per year) and Oman (+17.7% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, growing by 6.7% against the previous year. In general, the export price, however, recorded a pronounced decline. Over the period under review, the export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+3.1%), while the other leaders experienced mixed trends in the export price figures.

Industrial Sewing Machine Imports

Imports in GCC

In 2022, purchases abroad of industrial sewing machines decreased by -28.7% to X units for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, posted a strong increase. The growth pace was the most rapid in 2021 when imports increased by 151%. As a result, imports attained the peak of X units, and then declined markedly in the following year.

In value terms, industrial sewing machine imports fell dramatically to $X in 2022. Over the period under review, imports, however, saw a moderate increase. The most prominent rate of growth was recorded in 2021 with an increase of 133%. As a result, imports attained the peak of $X, and then shrank markedly in the following year.

Imports by Country

The United Arab Emirates prevails in imports structure, finishing at X units, which was approx. 96% of total imports in 2022. Bahrain (X units) took a minor share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the industrial sewing machines imports, with a CAGR of +13.2% from 2012 to 2022. At the same time, Bahrain (+1.4%) displayed positive paces of growth. From 2012 to 2022, the share of the United Arab Emirates increased by +36 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported industrial sewing machines in GCC, comprising 92% of total imports. The second position in the ranking was taken by Bahrain ($X), with a 1% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled +5.8%.

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, declining by -4.4% against the previous year. Over the period under review, the import price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2016 when the import price increased by 32% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, 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 Bahrain amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-6.5%).

Source: IndexBox Platform