GCC: Market for Machinery For Moulding Or Retreading Pneumatic Tyres 2024

Market Size for Machinery For Moulding Or Retreading Pneumatic Tyres in GCC

In 2022, after two years of decline, there was growth in the GCC pneumatic tyre retreading machinery market, when its value increased by 1.4% to $X. Over the period under review, consumption continues to indicate noticeable growth. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Machinery For Moulding Or Retreading Pneumatic Tyres in GCC

In value terms, pneumatic tyre retreading machinery production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 7.5% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Machinery For Moulding Or Retreading Pneumatic Tyres

Exports in GCC

In 2022, approx. X units of machinery for moulding or retreading pneumatic tyres were exported in GCC; with an increase of 7.7% on 2021 figures. Overall, exports, however, showed a dramatic decrease. The most prominent rate of growth was recorded in 2016 with an increase of 4,726% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, pneumatic tyre retreading machinery exports shrank modestly to $X in 2022. In general, exports, however, saw a sharp contraction. The pace of growth appeared the most rapid in 2020 when exports increased by 422% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates prevails in exports structure, accounting for X units, which was approx. 96% of total exports in 2022. Bahrain (X units) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the machinery for moulding or retreading pneumatic tyres exports, with a CAGR of -2.6% from 2012 to 2022. Bahrain (-14.9%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+91 p.p.) and Bahrain (+2.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest pneumatic tyre retreading machinery supplier in GCC, comprising 81% of total exports. The second position in the ranking was held by Bahrain ($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 amounted to -8.1%.

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, shrinking by -9.4% against the previous year. Over the period under review, the export price, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2017 when the export price increased by 6,078% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Bahrain ($X per unit), while the United Arab Emirates stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+18.5%).

Imports of Machinery For Moulding Or Retreading Pneumatic Tyres

Imports in GCC

Pneumatic tyre retreading machinery imports soared to X units in 2022, increasing by 25% compared with the previous year's figure. Over the period under review, imports, however, showed a abrupt downturn. The pace of growth appeared the most rapid in 2019 when imports increased by 1,911% against the previous year. The volume of import peaked at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, pneumatic tyre retreading machinery imports reached $X in 2022. In general, imports, however, continue to indicate a sharp contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 3,181% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Bahrain (X units) and Qatar (X units) were the key importers of machinery for moulding or retreading pneumatic tyres in GCC, together comprising 77% of total imports. It was distantly followed by the United Arab Emirates (X units), creating a 16% share of total imports. Kuwait (X units) and Oman (X units) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Bahrain (with a CAGR of +32.4%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest pneumatic tyre retreading machinery importing markets in GCC were the United Arab Emirates ($X), Bahrain ($X) and Qatar ($X), with a combined 90% share of total imports.

Bahrain, with a CAGR of +24.5%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, reducing by -18.9% against the previous year. Overall, the import price showed a abrupt curtailment. The pace of growth was the most pronounced in 2015 when the import price increased by 195% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Bahrain ($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 (+1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform