GCC: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in GCC

The GCC self-propelled boring machinery market fell to $X in 2022, dropping by -9.5% against the previous year. In general, consumption recorded a deep slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Self-Propelled Boring Machinery Production in GCC

In value terms, self-propelled boring machinery production expanded modestly to $X in 2022 estimated in export price. The total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.8% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 42%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Self-Propelled Boring Machinery Exports

Exports in GCC

In 2022, overseas shipments of self-propelled boring or sinking machinery decreased by -22.1% to X units, falling for the fourth year in a row after two years of growth. Over the period under review, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2015 when exports increased by 64% against the previous year. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, self-propelled boring machinery exports reduced to $X in 2022. Overall, exports showed a deep slump. The most prominent rate of growth was recorded in 2017 with an increase of 88%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates was the main exporter of self-propelled boring or sinking machinery in GCC, with the volume of exports recording X units, which was near 45% of total exports in 2022. It was distantly followed by Kuwait (X units), Oman (X units) and Bahrain (X units), together making up a 55% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Kuwait (with a CAGR of +2.0%), while the other leaders experienced a decline in the exports figures.

In value terms, the United Arab Emirates ($X) remains the largest self-propelled boring machinery supplier in GCC, comprising 67% of total exports. The second position in the ranking was taken by Kuwait ($X), with a 21% share of total exports. It was followed by Oman, with a 10% share.

In the United Arab Emirates, self-propelled boring machinery exports contracted by an average annual rate of -19.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Kuwait (+14.7% per year) and Oman (-3.9% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, picking up by 21% against the previous year. Overall, the export price, however, showed a abrupt descent. The pace of growth appeared the most rapid in 2017 when the export price increased by 81%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+12.5%), while the other leaders experienced mixed trends in the export price figures.

Self-Propelled Boring Machinery Imports

Imports in GCC

In 2022, supplies from abroad of self-propelled boring or sinking machinery decreased by -6.5% to X units, falling for the second consecutive year after two years of growth. Over the period under review, imports faced a drastic downturn. The growth pace was the most rapid in 2019 with an increase of 85% against the previous year. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, self-propelled boring machinery imports shrank to $X in 2022. Overall, imports saw a abrupt contraction. The pace of growth was the most pronounced in 2019 with an increase of 126% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Saudi Arabia (X units) represented the main importer of self-propelled boring or sinking machinery, generating 65% of total imports. The United Arab Emirates (X units) ranks second in terms of the total imports with a 23% share, followed by Kuwait (5.2%). Bahrain (X units) and Oman (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to self-propelled boring machinery imports into Saudi Arabia stood at -13.7%. At the same time, Bahrain (+6.8%) and Kuwait (+4.9%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of +6.8% from 2012-2022. By contrast, Oman (-3.5%) and the United Arab Emirates (-10.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Kuwait, the United Arab Emirates, Bahrain and Oman increased by +4.3, +3.8, +3.1 and +1.8 percentage points, respectively.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X) were the countries with the highest levels of imports in 2022, together comprising 89% of total imports.

Kuwait, with a CAGR of +9.6%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, reducing by -3.5% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by 39% against the previous year. The level of import peaked at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform