GCC: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in GCC

The GCC machine-tool for working metal market amounted to $X in 2021, rising by 14% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Production of Machine Tools For Working Metal in GCC

In value terms, machine-tool for working metal production declined to $X in 2021 estimated in export price. Overall, production recorded a noticeable slump. The pace of growth was the most pronounced in 2020 with an increase of 40%. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Exports of Machine Tools For Working Metal

Exports in GCC

In 2021, machine-tool for working metal exports in GCC fell notably to X units, with a decrease of -49.2% compared with the previous year's figure. In general, exports continue to indicate a dramatic decrease. The pace of growth was the most pronounced in 2015 when exports increased by 134%. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, machine-tool for working metal exports declined rapidly to $X in 2021. Overall, exports recorded a deep setback. The pace of growth appeared the most rapid in 2015 with an increase of 153% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates prevails in exports structure, accounting for X units, which was approx. 95% of total exports in 2021. Oman (X units) followed a long way behind the leaders.

Exports from the United Arab Emirates decreased at an average annual rate of -18.8% from 2012 to 2021. At the same time, Oman (+10.0%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +10.0% from 2012-2021. The United Arab Emirates (+47 p.p.) and Oman (+3.2 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 ($X) remains the largest machine-tool for working metal supplier in GCC, comprising 60% of total exports. The second position in the ranking was taken by Oman ($X), with a 13% share of total exports.

In the United Arab Emirates, machine-tool for working metal exports contracted by an average annual rate of -17.6% over the period from 2012-2021.

Export Prices by Country

The export price in GCC stood at $X per unit in 2021, declining by -26.3% against the previous year. Over the period under review, the export price, however, showed a prominent increase. The pace of growth was the most pronounced in 2013 an increase of 223% against the previous year. The level of export peaked at $X per unit in 2020, and then dropped remarkably in the following year.

Prices varied noticeably country of origin: the country with the highest price was Oman ($X per unit), while the United Arab Emirates stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+14.7%).

Imports of Machine Tools For Working Metal

Imports in GCC

In 2021, supplies from abroad of machine tools for working metal increased by 52% to X units for the first time since 2014, thus ending a six-year declining trend. Overall, imports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2014 when imports increased by 60%. As a result, imports attained the peak of X units. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, machine-tool for working metal imports soared to $X in 2021. In general, imports, however, recorded a abrupt curtailment. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates was the largest importing country with an import of about X units, which finished at 84% of total imports. It was distantly followed by Kuwait (X units), mixing up a 12% share of total imports. Oman (X units) held a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to machine-tool for working metal imports into the United Arab Emirates stood at -7.5%. At the same time, Kuwait (+3.2%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of +3.2% from 2012-2021. By contrast, Oman (-11.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Kuwait and the United Arab Emirates increased by +7.7 and +6.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported machine tools for working metal in GCC, comprising 43% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 4.6% share of total imports.

In the United Arab Emirates, machine-tool for working metal imports decreased by an average annual rate of -1.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Kuwait (-9.6% per year) and Oman (-14.6% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2021, with a decrease of -20.4% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 52%. Over the period under review, import prices hit record highs at $X per unit in 2020, and then reduced remarkably in the following year.

Prices varied noticeably country of destination: the country with the highest price was Oman ($X per unit), while Kuwait ($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 (+6.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform