GCC: Mattocks And Rakes Market 2024

Mattocks And Rakes Market Size in GCC

The GCC mattocks and rakes market rose significantly to $X in 2022, with an increase of 7.7% against the previous year. In general, consumption enjoyed notable growth. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Mattocks And Rakes Production in GCC

In value terms, mattocks and rakes production stood at $X in 2022 estimated in export price. Over the period under review, production saw a significant expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 197%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Mattocks And Rakes Exports

Exports in GCC

Mattocks and rakes exports fell remarkably to X tons in 2022, dropping by -18.4% compared with the previous year. In general, exports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2016 when exports increased by 118% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, mattocks and rakes exports fell remarkably to $X in 2022. Overall, exports, however, showed a significant expansion. The growth pace was the most rapid in 2019 when exports increased by 181% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, resulting at X tons, which was approx. 98% of total exports in 2022. Oman (X tons) held a minor share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of +11.5% from 2012 to 2022. At the same time, Oman (+29.1%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +29.1% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest mattocks and rakes supplier in GCC, comprising 99% of total exports. The second position in the ranking was held by Oman ($X), with a 0.6% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates amounted to +21.2%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, surging by 3.8% against the previous year. Overall, the export price posted resilient growth. The pace of growth was the most pronounced in 2017 an increase of 135% against the previous year. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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 the United Arab Emirates ($X per ton), while Oman amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+8.7%).

Mattocks And Rakes Imports

Imports in GCC

In 2022, approx. X tons of mattocks, picks, hoes and rakes were imported in GCC; with a decrease of -3.6% against the previous year. Overall, imports saw a abrupt contraction. The growth pace was the most rapid in 2019 with an increase of 27%. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, mattocks and rakes imports contracted to $X in 2022. In general, imports showed a mild descent. The pace of growth appeared the most rapid in 2019 with an increase of 68% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates represented the main importing country with an import of around X tons, which reached 79% of total imports. Oman (X tons) took the second position in the ranking, followed by Kuwait (X tons). All these countries together took near 18% share of total imports. Qatar (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to mattocks and rakes imports into the United Arab Emirates stood at -1.2%. At the same time, Qatar (+7.2%) and Oman (+5.6%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +7.2% from 2012-2022. By contrast, Kuwait (-3.2%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+27 p.p.), Oman (+7.8 p.p.) and Qatar (+1.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported mattocks, picks, hoes and rakes in GCC, comprising 79% of total imports. The second position in the ranking was taken by Oman ($X), with a 15% share of total imports. It was followed by Kuwait, with a 3.3% share.

In the United Arab Emirates, mattocks and rakes imports expanded at an average annual rate of +1.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Oman (+9.7% per year) and Kuwait (-5.3% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, almost unchanged from the previous year. Import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mattocks and rakes import price decreased by -20.5% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the import price increased by 32% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the 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 Oman ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+3.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform