GCC: Pile-Driver Market 2024

Pile-Driver Market Size in GCC

The GCC pile-driver market skyrocketed to $X in 2021, picking up by 88% against the previous year. In general, consumption saw modest growth. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the immediate term.

Pile-Driver Production in GCC

In value terms, pile-driver production reduced slightly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of 31% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Pile-Driver Exports

Exports in GCC

In 2021, shipments abroad of pile-drivers and pile-extractors increased by 138% to X units, rising for the third year in a row after four years of decline. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 350%. The volume of export peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, pile-driver exports soared to $X in 2021. Over the period under review, exports showed a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Saudi Arabia (X units) was the key exporter of pile-drivers and pile-extractors, making up 61% of total exports. It was distantly followed by Kuwait (X units), Bahrain (X units), the United Arab Emirates (X units) and Oman (X units), together making up a 39% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to pile-driver exports from Saudi Arabia stood at +34.5%. At the same time, Kuwait (+45.9%), Bahrain (+43.6%), Oman (+12.3%) and the United Arab Emirates (+11.3%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of +45.9% from 2012-2021. While the share of Saudi Arabia (+22 p.p.), Kuwait (+8.8 p.p.) and Bahrain (+7.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Oman (-15.9 p.p.) and the United Arab Emirates (-21.9 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Bahrain ($X) were the countries with the highest levels of exports in 2021, with a combined 91% share of total exports.

Among the main exporting countries, Bahrain, with a CAGR of +56.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in GCC stood at $X per unit in 2021, declining by -3.7% against the previous year. In general, the export price showed a deep reduction. The pace of growth appeared the most rapid in 2019 an increase of 39%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was the United Arab Emirates ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+8.8%), while the other leaders experienced a decline in the export price figures.

Pile-Driver Imports

Imports in GCC

In 2021, pile-driver imports in GCC skyrocketed to X units, jumping by 106% compared with the year before. In general, imports saw a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 390%. The volume of import peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, pile-driver imports skyrocketed to $X in 2021. Over the period under review, imports saw a resilient expansion. The growth pace was the most rapid in 2014 when imports increased by 322%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates dominates imports structure, recording X units, which was near 92% of total imports in 2021. Oman (X units) and Bahrain (X units) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the pile-drivers and pile-extractors imports, with a CAGR of +28.6% from 2012 to 2021. At the same time, Bahrain (+16.1%) displayed positive paces of growth. By contrast, Oman (-9.1%) illustrated a downward trend over the same period. The United Arab Emirates (+54 p.p.) significantly strengthened its position in terms of the total imports, while Oman saw its share reduced by -33.6% 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 ($X) constitutes the largest market for imported pile-drivers and pile-extractors in GCC, comprising 71% of total imports. The second position in the ranking was taken by Bahrain ($X), with a 1.7% share of total imports.

In the United Arab Emirates, pile-driver imports increased at an average annual rate of +24.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Bahrain (+15.6% per year) and Oman (-9.7% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per unit, declining by -28% against the previous year. In general, the import price, however, enjoyed a mild expansion. The pace of growth appeared the most rapid in 2017 when the import price increased by 161% against the previous year. As a result, import price attained the peak level of $X per unit. From 2018 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (-0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform