MENA: Boring Machinery Market 2024

Boring Machinery Market Size in MENA

After two years of decline, the MENA's boring machinery market increased by 0.1% to $X in 2022. The total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.3% 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 -19.7% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Boring Machinery Production in MENA

In value terms, boring machinery production reduced to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a notable increase. The pace of growth was the most pronounced in 2018 when the production volume increased by 62%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Boring Machinery Exports

Exports in MENA

In 2022, after four years of growth, there was significant decline in overseas shipments of boring or sinking machinery, when their volume decreased by -8.2% to X units. Over the period under review, exports, however, recorded a mild expansion. The most prominent rate of growth was recorded in 2020 with an increase of 48% against the previous year. Over the period under review, the exports attained the maximum at X units in 2021, and then reduced in the following year.

In value terms, boring machinery exports contracted slightly to $X in 2022. Total exports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -6.4% against 2020 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 48%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X units) and Turkey (X units) were the major exporters of boring or sinking machinery in 2022, amounting to near 44% and 38% of total exports, respectively. It was distantly followed by Saudi Arabia (X units), comprising a 10% share of total exports. Yemen (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Yemen (with a CAGR of +23.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the largest boring machinery supplier in MENA, comprising 61% of total exports. The second position in the ranking was taken by Turkey ($X), with an 18% share of total exports. It was followed by Saudi Arabia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at +13.7%. In the other countries, the average annual rates were as follows: Turkey (+6.9% per year) and Saudi Arabia (-11.7% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per unit, growing by 8.8% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the export price increased by 57% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Yemen (+8.2%), while the other leaders experienced more modest paces of growth.

Boring Machinery Imports

Imports in MENA

In 2022, approx. X units of boring or sinking machinery were imported in MENA; falling by -16.8% compared with the previous year's figure. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 90%. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, boring machinery imports shrank remarkably to $X in 2022. Overall, imports, however, recorded temperate growth. The pace of growth was the most pronounced in 2019 when imports increased by 170%. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Kuwait (X units) and Egypt (X units) represented roughly 41% of total imports in 2022. Iraq (X units) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Morocco (9.7%), the United Arab Emirates (8.6%), Algeria (8.5%), Turkey (6.7%) and Tunisia (6%).

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +37.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X) constitutes the largest market for imported boring or sinking machinery in MENA, comprising 15% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 7.3% share of total imports. It was followed by Kuwait, with a 5.3% share.

From 2012 to 2022, the average annual growth rate of value in Egypt stood at +6.5%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (-6.6% per year) and Kuwait (+26.8% per year).

Import Prices by Country

The import price in MENA stood at $X per unit in 2022, dropping by -18.5% against the previous year. In general, the import price, however, showed a notable increase. The growth pace was the most rapid in 2021 when the import price increased by 118% against the previous year. As a result, import price reached the peak level of $X per unit, and then contracted remarkably in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Morocco ($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 (+5.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform