GCC: Interchangeable Tool Market 2025

Interchangeable Tool Market Size in GCC

In 2021, the GCC interchangeable tool market increased by 29% to $X, rising for the third consecutive year after three years of decline. The total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +95.2% against 2018 indices. The level of consumption peaked in 2021 and is expected to retain growth in years to come.

Interchangeable Tool Production in GCC

In value terms, interchangeable tool production dropped rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 2,627% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Interchangeable Tool Exports

Exports in GCC

In 2021, approx. X tons of interchangeable tools for hand tools were exported in GCC; growing by 6.2% against 2020. In general, exports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2017 with an increase of 134%. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, interchangeable tool exports stood at $X in 2021. Overall, exports showed a prominent expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 105%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, the United Arab Emirates (X tons) was the major exporter of interchangeable tools for hand tools, achieving 63% of total exports. Oman (X tons) took a 27% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (6.9%). Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to interchangeable tool exports from the United Arab Emirates stood at +5.0%. At the same time, Oman (+32.0%) and Kuwait (+18.5%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +32.0% from 2012-2021. By contrast, Saudi Arabia (-2.9%) illustrated a downward trend over the same period. While the share of Oman (+23 p.p.) and Kuwait (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Saudi Arabia (-9.8 p.p.) and the United Arab Emirates (-12.4 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest interchangeable tool supplier in GCC, comprising 69% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 17% share of total exports. It was followed by Oman, with a 7% share.

In the United Arab Emirates, interchangeable tool exports increased at an average annual rate of +6.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (+2.7% per year) and Oman (+17.5% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, growing by 4.6% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by 39%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Saudi Arabia ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+5.8%), while the other leaders experienced more modest paces of growth.

Interchangeable Tool Imports

Imports in GCC

In 2021, approx. X tons of interchangeable tools for hand tools were imported in GCC; increasing by 25% against the year before. Total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +78.3% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, interchangeable tool imports rose rapidly to $X in 2021. The total import value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 28%. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Saudi Arabia represented the key importer of interchangeable tools for hand tools in GCC, with the volume of imports reaching X tons, which was near 51% of total imports in 2021. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 30% share, followed by Qatar (6.7%), Kuwait (6.2%) and Oman (4.6%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Kuwait (with a CAGR of +8.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 87% share of total imports.

In terms of the main importing countries, Kuwait, with a CAGR of +10.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, which is down by -11.8% against the previous year. In general, the import price showed a noticeable descent. The pace of growth appeared the most rapid in 2013 when the import price increased by 24%. Over the period under review, import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Kuwait ($X per ton), while Saudi Arabia ($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 (+2.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform