GCC: Grinding Machine Market 2024

Grinding Machine Market Size in GCC

The GCC grinding machine market reduced to $X in 2021, with a decrease of -4.1% against the previous year. The total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +3.1% 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 +66.1% against 2019 indices. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Grinding Machine Production in GCC

In value terms, grinding machine production reduced dramatically to $X in 2021 estimated in export price. In general, production, however, posted a moderate expansion. The most prominent rate of growth was recorded in 2020 with an increase of 137% against the previous year. As a result, production attained the peak level of $X, and then fell significantly in the following year.

Grinding Machine Exports

Exports in GCC

In 2021, grinding machine exports in GCC reduced sharply to X units, falling by -66.9% against the previous year. Overall, exports, however, posted a notable expansion. The most prominent rate of growth was recorded in 2020 with an increase of 336%. The volume of export peaked at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, grinding machine exports contracted dramatically to $X in 2021. Over the period under review, exports showed a pronounced downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 134% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020, and then shrank remarkably in the following year.

Exports by Country

In 2021, the United Arab Emirates (X units) was the key exporter of machines having individual functions, for mixing, kneading, crushing or grinding, achieving 64% of total exports. It was distantly followed by Saudi Arabia (X units), achieving a 34% share of total exports. Oman (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Oman (with a CAGR of +11.6%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the largest grinding machine supplier in GCC, comprising 74% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 21% share of total exports.

In the United Arab Emirates, grinding machine exports expanded at an average annual rate of +1.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (-13.0% per year) and Oman (-1.9% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2021, picking up by 60% against the previous year. In general, the export price, however, continues to indicate a deep reduction. The pace of growth was the most pronounced in 2019 an increase of 232%. Over the period under review, the export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the United Arab Emirates ($X per unit), while Oman ($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 (-1.1%), while the other leaders experienced a decline in the export price figures.

Grinding Machine Imports

Imports in GCC

In 2021, the amount of machines having individual functions, for mixing, kneading, crushing or grinding imported in GCC fell to X units, shrinking by -12.4% compared with the previous year's figure. Total imports indicated slight growth from 2012 to 2021: its volume increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +42.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 63%. Over the period under review, imports reached the peak figure at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, grinding machine imports dropped slightly to $X in 2021. Overall, imports saw a mild slump. The pace of growth appeared the most rapid in 2014 with an increase of 20%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the United Arab Emirates (X units) represented the key importer of machines having individual functions, for mixing, kneading, crushing or grinding, comprising 68% of total imports. Oman (X units) took the second position in the ranking, distantly followed by Qatar (X units). All these countries together took near 25% share of total imports. Bahrain (X units) and Kuwait (X units) followed a long way behind the leaders.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of imports of machines having individual functions, for mixing, kneading, crushing or grinding. At the same time, Kuwait (+30.2%) and Oman (+3.1%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of +30.2% from 2012-2021. By contrast, Bahrain (-2.1%) and Qatar (-3.4%) illustrated a downward trend over the same period. Oman (+2.9 p.p.) and Kuwait (+2.9 p.p.) significantly strengthened its position in terms of the total imports, while Qatar saw its share reduced by -3.2% 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 ($X) constitutes the largest market for imported machines having individual functions, for mixing, kneading, crushing or grinding in GCC, comprising 37% of total imports. The second position in the ranking was taken by Oman ($X), with a 7.3% share of total imports. It was followed by Qatar, with a 7% share.

In the United Arab Emirates, grinding machine imports decreased by an average annual rate of -2.2% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Oman (+1.2% per year) and Qatar (+2.9% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per unit, surging by 11% against the previous year. Over the period under review, the import price, however, recorded a pronounced curtailment. The pace of growth appeared the most rapid in 2019 when the import price increased by 105% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Kuwait ($X per unit), while Oman ($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 (+6.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform