GCC: Market for Lathes For Removing Metal 2024

Market Size for Lathes For Removing Metal in GCC

The GCC lathe for removing metal market stood at $X in 2021, almost unchanged from the previous year. In general, consumption showed a pronounced setback. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Lathes For Removing Metal in GCC

In value terms, lathe for removing metal production reduced slightly to $X in 2021 estimated in export price. In general, production, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 49% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Lathes For Removing Metal

Exports in GCC

In 2021, the amount of lathes for removing metal exported in GCC surged to X units, with an increase of 91% compared with the previous year. Over the period under review, exports, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2017 with an increase of 123%. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, lathe for removing metal exports soared to $X in 2021. Overall, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 94% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

The United Arab Emirates prevails in exports structure, reaching X units, which was approx. 93% of total exports in 2021. Saudi Arabia (X units) and Oman (X units) followed a long way behind the leaders.

Exports from the United Arab Emirates decreased at an average annual rate of -10.7% from 2012 to 2021. Oman experienced a relatively flat trend pattern. Saudi Arabia (-3.1%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+20 p.p.), Saudi Arabia (+2.4 p.p.) and Oman (+2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) emerged as the largest lathe for removing metal supplier in GCC, comprising 83% of total exports. The second position in the ranking was taken by Oman ($X), with a 7.4% share of total exports.

In the United Arab Emirates, lathe for removing metal exports expanded at an average annual rate of +14.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (+24.9% per year) and Saudi Arabia (-13.5% per year).

Export Prices by Country

In 2021, the export price in GCC amounted to $X per unit, declining by -12% against the previous year. Overall, the export price, however, posted a significant increase. The pace of growth appeared the most rapid in 2018 when the export price increased by 140%. The level of export peaked at $X per unit in 2020, and then reduced in the following year.

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 Oman ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+28.2%), while the other leaders experienced mixed trends in the export price figures.

Imports of Lathes For Removing Metal

Imports in GCC

Lathe for removing metal imports dropped significantly to X units in 2021, falling by -47.1% against the previous year's figure. Overall, imports continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2014 with an increase of 134% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, lathe for removing metal imports soared to $X in 2021. Over the period under review, imports showed a pronounced contraction. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

The United Arab Emirates represented the main importing country with an import of about X units, which finished at 83% of total imports. It was distantly followed by Oman (X units), constituting a 10% share of total imports. Qatar (X units), Kuwait (X units) and Bahrain (X units) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to lathe for removing metal imports into the United Arab Emirates stood at -8.7%. At the same time, Oman (+4.3%) and Bahrain (+2.5%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +4.3% from 2012-2021. By contrast, Kuwait (-11.4%) and Qatar (-22.7%) illustrated a downward trend over the same period. Oman (+7.1 p.p.) and the United Arab Emirates (+3 p.p.) significantly strengthened its position in terms of the total imports, while Qatar saw its share reduced by -10.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported lathes for removing metal in GCC, comprising 33% of total imports. The second position in the ranking was taken by Oman ($X), with a 15% share of total imports. It was followed by Kuwait, with a 3.4% share.

In the United Arab Emirates, lathe for removing metal imports declined by an average annual rate of -3.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Oman (+10.1% per year) and Kuwait (+5.6% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per unit, growing by 169% against the previous year. In general, the import price posted a buoyant expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per unit), while the United Arab Emirates ($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 (+27.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform