GCC: Winche And Capstan Market 2024

Winche And Capstan Market Size in GCC

In 2021, the GCC winche and capstan market decreased by -5.1% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Winche And Capstan Production in GCC

In value terms, winche and capstan production shrank to $X in 2021 estimated in export price. The total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +18.1% against 2019 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by 42% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then shrank in the following year.

Winche And Capstan Exports

Exports in GCC

For the fourth consecutive year, GCC recorded decline in overseas shipments of winches and capstans, which decreased by -25.3% to X units in 2021. In general, exports, however, posted a prominent increase. The growth pace was the most rapid in 2017 with an increase of 199% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, winche and capstan exports contracted to $X in 2021. Over the period under review, exports saw a slight setback. The pace of growth appeared the most rapid in 2018 with an increase of 134% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Saudi Arabia represented the main exporter of winches and capstans in GCC, with the volume of exports accounting for X units, which was near 50% of total exports in 2021. Oman (X units) ranks second in terms of the total exports with a 27% share, followed by the United Arab Emirates (23%).

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +31.0%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the United Arab Emirates ($X), Oman ($X) and Saudi Arabia ($X) were the countries with the highest levels of exports in 2021, together comprising 97% of total exports.

Oman, with a CAGR of +27.9%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per unit in 2021, rising by 21% against the previous year. In general, the export price, however, continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2018 an increase of 159%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United Arab Emirates ($X per unit), while Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+4.7%), while the other leaders experienced a decline in the export price figures.

Winche And Capstan Imports

Imports in GCC

After two years of growth, overseas purchases of winches and capstans decreased by -22.1% to X units in 2021. Overall, imports continue to indicate a pronounced shrinkage. The growth pace was the most rapid in 2015 with an increase of 87%. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, winche and capstan imports expanded remarkably to $X in 2021. In general, imports showed a perceptible curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 47% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X units) represented the key importer of winches and capstans, comprising 80% of total imports. It was distantly followed by Oman (X units) and Kuwait (X units), together achieving a 17% share of total imports. The following importers - Qatar (X units) and Bahrain (X units) - each resulted at a 3.2% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to winche and capstan imports into the United Arab Emirates stood at -3.6%. At the same time, Kuwait (+9.5%) and Bahrain (+5.6%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of +9.5% from 2012-2021. By contrast, Oman (-1.2%) and Qatar (-6.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Kuwait and Oman increased by +3.4 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported winches and capstans in GCC, comprising 49% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 15% share of total imports. It was followed by Oman, with a 4.9% share.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates stood at -3.0%. In the other countries, the average annual rates were as follows: Kuwait (+17.3% per year) and Oman (-0.1% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2021, rising by 35% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 42% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform