GCC: Personal Weighing Machine Market 2024

Personal Weighing Machine Market Size in GCC

In 2022, the GCC personal weighing machine market decreased by -0.7% to $X for the first time since 2016, thus ending a five-year rising trend. Over the period under review, consumption, however, showed a buoyant increase. Over the period under review, the market hit record highs at $X in 2021, and then fell slightly in the following year.

Personal Weighing Machine Production in GCC

In value terms, personal weighing machine production expanded notably to $X in 2022 estimated in export price. In general, production saw a resilient increase. The growth pace was the most rapid in 2020 when the production volume increased by 39% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Personal Weighing Machine Exports

Exports in GCC

Personal weighing machine exports fell notably to X units in 2022, with a decrease of -38.3% against 2021 figures. Over the period under review, exports, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 97% against the previous year. The volume of export peaked at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, personal weighing machine exports declined rapidly to $X in 2022. In general, exports, however, showed a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of 152% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates prevails in exports structure, resulting at X units, which was near 88% of total exports in 2022. It was distantly followed by Bahrain (X units), committing a 6.5% share of total exports. The following exporters - Oman (X units) and Saudi Arabia (X units) - each resulted at a 4.1% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to personal weighing machine exports from the United Arab Emirates stood at +5.3%. At the same time, Bahrain (+43.0%), Saudi Arabia (+31.2%) and Oman (+19.4%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in GCC, with a CAGR of +43.0% from 2012-2022. While the share of Bahrain (+6.2 p.p.) and Oman (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (-7.7 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 ($X) remains the largest personal weighing machine supplier in GCC, comprising 89% of total exports. The second position in the ranking was held by Bahrain ($X), with a 4.9% share of total exports. It was followed by Oman, with a 3.6% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates amounted to +10.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Bahrain (+10.0% per year) and Oman (+26.9% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, picking up by 25% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.2%. The most prominent rate of growth was recorded in 2014 an increase of 29% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Oman ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+6.3%), while the other leaders experienced mixed trends in the export price figures.

Personal Weighing Machine Imports

Imports in GCC

After five years of growth, supplies from abroad of personal weighing machines decreased by -10.3% to X units in 2022. In general, imports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2014 with an increase of 69% against the previous year. The volume of import peaked at X units in 2021, and then fell in the following year.

In value terms, personal weighing machine imports reduced markedly to $X in 2022. Over the period under review, imports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of 54% against the previous year. The level of import peaked at $X in 2021, and then contracted markedly in the following year.

Imports by Country

The United Arab Emirates dominates imports structure, amounting to X units, which was near 87% of total imports in 2022. It was distantly followed by Kuwait (X units), achieving a 5.2% share of total imports. Qatar (X units) and Oman (X units) followed a long way behind the leaders.

Imports into the United Arab Emirates increased at an average annual rate of +13.2% from 2012 to 2022. At the same time, Qatar (+22.5%), Kuwait (+17.0%) and Oman (+10.8%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +22.5% from 2012-2022. Qatar (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by -3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported personal weighing machines in GCC, comprising 83% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 7% share of total imports. It was followed by Qatar, with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to +13.3%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (+10.9% per year) and Qatar (+13.9% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, which is down by -24.9% against the previous year. Overall, the import price continues to indicate a perceptible descent. The pace of growth was the most pronounced in 2016 an increase of 60%. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Kuwait ($X per unit) and Oman ($X per unit), while the United Arab Emirates ($X per unit) and Qatar ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform