GCC: Market for Machinery for Liquefying Air or Gases 2024

Market Size for Machinery for Liquefying Air or Gases in GCC

The GCC air or gas liquefier market reduced to $X in 2022, waning by -5% against the previous year. In general, consumption, however, saw a buoyant expansion. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Production of Machinery for Liquefying Air or Gases in GCC

In value terms, air or gas liquefier production fell modestly to $X in 2022 estimated in export price. Over the period under review, production, however, posted a prominent increase. The pace of growth was the most pronounced in 2013 when the production volume increased by 159% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Machinery for Liquefying Air or Gases

Exports in GCC

In 2022, overseas shipments of machinery for liquefying air or gases decreased by 0% to X units, falling for the second consecutive year after four years of growth. Overall, exports recorded a prominent expansion. The pace of growth appeared the most rapid in 2015 with an increase of 950% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, air or gas liquefier exports declined to $X in 2022. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 147% against the previous year. The level of export peaked at $X in 2021, and then declined in the following year.

Exports by Country

The United Arab Emirates dominates exports structure, finishing at X units, which was near 94% of total exports in 2022. It was distantly followed by Oman (X units), generating a 5.6% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the machinery for liquefying air or gases exports, with a CAGR of +13.0% from 2012 to 2022. Oman (-50.0%) illustrated a downward trend over the same period. Oman (+5.6 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -5.6% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) remains the largest air or gas liquefier supplier in GCC, comprising 96% of total exports. The second position in the ranking was taken by Oman ($X), with a 4% share of total exports.

In the United Arab Emirates, air or gas liquefier exports expanded at an average annual rate of +48.8% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, waning by -7.3% against the previous year. Overall, the export price, however, recorded a significant expansion. The pace of growth was the most pronounced in 2016 an increase of 1,008% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Oman totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+31.5%).

Imports of Machinery for Liquefying Air or Gases

Imports in GCC

In 2022, after two years of decline, there was significant decline in purchases abroad of machinery for liquefying air or gases, when their volume decreased by -47.5% to X units. In general, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 16,760%. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, air or gas liquefier imports declined dramatically to $X in 2022. Over the period under review, imports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2017 when imports increased by 200% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates represented the key importer of machinery for liquefying air or gases in GCC, with the volume of imports amounting to X units, which was approx. 57% of total imports in 2022. Qatar (X units) ranks second in terms of the total imports with a 24% share, followed by Oman (14%) and Kuwait (4.8%).

From 2012 to 2022, average annual rates of growth with regard to air or gas liquefier imports into the United Arab Emirates stood at +5.5%. At the same time, Oman (+11.6%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +11.6% from 2012-2022. By contrast, Kuwait (-6.7%) and Qatar (-15.2%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+38 p.p.) and Oman (+12 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Qatar (-48.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported machinery for liquefying air or gases in GCC, comprising 83% of total imports. The second position in the ranking was held by Qatar ($X), with a 5.3% share of total imports. It was followed by Oman, with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (-23.3% per year) and Oman (+0.6% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, rising by 17% against the previous year. Over the period under review, the import price, however, recorded a abrupt slump. The pace of growth was the most pronounced in 2016 when the import price increased by 1,243% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Qatar ($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 (-5.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform