GCC: Market for Turbo, Rotary and Reciporating Displacement Compressors 2024

Market Size for Turbo, Rotary and Reciporating Displacement Compressors in GCC

The GCC market for turbo, rotary and reciporating displacement compressors expanded notably to $X in 2022, rising by 6.3% against the previous year. The total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.6% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Turbo, Rotary and Reciporating Displacement Compressors in GCC

In value terms, production of turbo, rotary and reciporating displacement compressors contracted to $X in 2022 estimated in export price. In general, production, however, showed a notable increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 85%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports in GCC

In 2022, exports of turbo, rotary and reciporating displacement compressors in GCC dropped remarkably to X units, reducing by -29.6% against 2021. Overall, exports, however, recorded a notable increase. The growth pace was the most rapid in 2017 when exports increased by 134%. Over the period under review, the exports of reached the peak figure at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, exports of turbo, rotary and reciporating displacement compressors contracted to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 294% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates prevails in compressors structure, amounting to X units, which was near 97% of total exports in 2022. Saudi Arabia (X units) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the turbo, rotary and reciporating displacement compressors exports, with a CAGR of +2.6% from 2012 to 2022. Saudi Arabia (-1.8%) illustrated a downward trend over the same period. The United Arab Emirates (+2.5 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest turbo, rotary and reciporating displacement compressor supplier in GCC, comprising 86% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to +2.4%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, surging by 23% against the previous year. In general, the export price, however, recorded a slight decline. The pace of growth appeared the most rapid in 2017 an increase of 68% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2022, the export prices remained at a somewhat lower figure.

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 Saudi Arabia ($X per unit), while the United Arab Emirates totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-0.2%).

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports in GCC

In 2022, approx. X units of turbo, rotary and reciporating displacement compressors were imported in GCC; surging by 26% on the previous year's figure. The total import volume increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 37% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, imports of turbo, rotary and reciporating displacement compressors expanded rapidly to $X in 2022. Overall, imports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2017 when imports increased by 34%. Over the period under review, imports of reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X units) was the largest importer of turbo, rotary and reciporating displacement compressors, generating 64% of total imports. It was distantly followed by Kuwait (X units) and Oman (X units), together comprising a 31% share of total imports. Bahrain (X units) and Qatar (X units) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to turbo, rotary and reciporating displacement compressor imports into the United Arab Emirates stood at +2.4%. At the same time, Qatar (+25.7%), Kuwait (+5.4%) and Oman (+2.6%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +25.7% from 2012-2022. Bahrain experienced a relatively flat trend pattern. From 2012 to 2022, the share of Kuwait increased by +5.1 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported turbo, rotary and reciporating displacement compressors in GCC, comprising 59% of total imports. The second position in the ranking was held by Oman ($X), with an 11% share of total imports. It was followed by Bahrain, with a 6.7% share.

In the United Arab Emirates, imports of turbo, rotary and reciporating displacement compressors declined by an average annual rate of -4.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Oman (+0.2% per year) and Bahrain (-2.3% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, declining by -16.4% against the previous year. Over the period under review, the import price continues to indicate a abrupt shrinkage. The growth pace was the most rapid in 2016 when the import price increased by 12% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (-1.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform