GCC: Wood Milling Machine Market 2024

Wood Milling Machine Market Size in GCC

In 2021, the GCC wood milling machine market decreased by -8.1% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, consumption saw a noticeable expansion. The level of consumption peaked at $X in 2020, and then fell in the following year.

Wood Milling Machine Production in GCC

In value terms, wood milling machine production reduced to $X in 2021 estimated in export price. In general, production, however, enjoyed a mild increase. The pace of growth was the most pronounced in 2019 when the production volume increased by 93%. The level of production peaked at $X in 2020, and then contracted in the following year.

Wood Milling Machine Exports

Exports in GCC

In 2021, exports of planing, milling or moulding machines in GCC dropped modestly to X units, shrinking by -2.2% on 2020. In general, exports, however, recorded a temperate increase. The pace of growth appeared the most rapid in 2017 with an increase of 131% against the previous year. The volume of export peaked at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, wood milling machine exports soared to $X in 2021. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 60%. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates prevails in exports structure, reaching X units, which was approx. 94% of total exports in 2021. The following exporters - Saudi Arabia (X units) and Oman (X units) - together made up 4.8% of total exports.

From 2012 to 2021, average annual rates of growth with regard to wood milling machine exports from the United Arab Emirates stood at +3.5%. At the same time, Oman (+16.7%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +16.7% from 2012-2021. By contrast, Saudi Arabia (-4.4%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+2.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Saudi Arabia (-2.9 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 ($X) remains the largest wood milling machine supplier in GCC, comprising 88% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 7.8% share of total exports.

In the United Arab Emirates, wood milling machine exports remained relatively stable over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (-6.2% per year) and Oman (-10.5% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2021, jumping by 42% against the previous year. Overall, the export price, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2014 an increase of 48% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-1.8%), while the other leaders experienced a decline in the export price figures.

Wood Milling Machine Imports

Imports in GCC

Wood milling machine imports skyrocketed to X units in 2021, with an increase of 20% against the previous year's figure. Overall, imports, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2019 when imports increased by 135% against the previous year. The volume of import peaked at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, wood milling machine imports soared to $X in 2021. Over the period under review, imports recorded a notable increase. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

Qatar dominates imports structure, recording X units, which was near 93% of total imports in 2021. It was distantly followed by the United Arab Emirates (X units), generating a 5.9% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to wood milling machine imports into Qatar stood at -7.8%. At the same time, the United Arab Emirates (+9.0%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in GCC, with a CAGR of +9.0% from 2012-2021. While the share of the United Arab Emirates (+4.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Qatar (-5.3 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported planing, milling or moulding machines in GCC, comprising 55% of total imports. The second position in the ranking was taken by Qatar ($X), with a 7.4% share of total imports.

In the United Arab Emirates, wood milling machine imports increased at an average annual rate of +11.4% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in GCC amounted to $X per unit, picking up by 60% against the previous year. Over the period under review, the import price enjoyed a resilient increase. The most prominent rate of growth was recorded in 2020 when the import price increased by 271%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Qatar amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+4.1%).

Source: IndexBox Platform