MENA: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in MENA

The MENA's cranks and crankshafts market declined to $X in 2022, waning by -5.5% against the previous year. In general, consumption saw a mild slump. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Cranks And Crankshafts Production in MENA

In value terms, cranks and crankshafts production fell to $X in 2022 estimated in export price. Over the period under review, production, however, posted a remarkable increase. The pace of growth was the most pronounced in 2018 when the production volume increased by 168%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Cranks And Crankshafts Exports

Exports in MENA

In 2022, the amount of cranks and crankshafts exported in MENA contracted notably to X tons, declining by -17.3% on the previous year. Total exports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +5.4% 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 +0.4% against 2020 indices. The pace of growth was the most pronounced in 2014 when exports increased by 25% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then declined rapidly in the following year.

In value terms, cranks and crankshafts exports reached $X in 2022. Total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +31.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 28% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Turkey dominates exports structure, recording X tons, which was approx. 93% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), constituting a 5.5% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to cranks and crankshafts exports from Turkey stood at +5.4%. At the same time, the United Arab Emirates (+6.7%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of +6.7% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest cranks and crankshafts supplier in MENA, comprising 93% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 5.3% share of total exports.

In Turkey, cranks and crankshafts exports increased at an average annual rate of +3.6% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, growing by 24% against the previous year. In general, the export price, however, recorded a mild descent. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.9%).

Cranks And Crankshafts Imports

Imports in MENA

In 2022, the amount of cranks and crankshafts imported in MENA expanded modestly to X tons, picking up by 3.5% against the previous year's figure. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 12%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, cranks and crankshafts imports reached $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 18%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Turkey represented the main importing country with an import of about X tons, which finished at 51% of total imports. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 13% share, followed by Iran (6.5%), Israel (5.2%), Saudi Arabia (5.2%) and Algeria (5%). Egypt (X tons) and Iraq (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to cranks and crankshafts imports into Turkey stood at +3.9%. At the same time, Israel (+15.1%), the United Arab Emirates (+6.8%) and Algeria (+1.6%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in MENA, with a CAGR of +15.1% from 2012-2022. By contrast, Iran (-1.3%), Egypt (-4.0%), Iraq (-10.8%) and Saudi Arabia (-16.1%) illustrated a downward trend over the same period. Turkey (+18 p.p.), the United Arab Emirates (+6.4 p.p.) and Israel (+4 p.p.) significantly strengthened its position in terms of the total imports, while Egypt, Iraq and Saudi Arabia saw its share reduced by -1.9%, -5.2% and -23.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported cranks and crankshafts in MENA, comprising 38% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with an 18% share of total imports. It was followed by Saudi Arabia, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at +4.7%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+4.3% per year) and Saudi Arabia (-10.2% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, dropping by -1.8% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the import price increased by 17%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+7.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform