MENA: Market for Lathes For Removing Metal 2024

Market Size for Lathes For Removing Metal in MENA

The MENA's lathe for removing metal market soared to $X in 2021, surging by 35% against the previous year. In general, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Production of Lathes For Removing Metal in MENA

In value terms, lathe for removing metal production skyrocketed to $X in 2021 estimated in export price. Overall, production posted buoyant growth. Over the period under review, lafor removing metal production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Lathes For Removing Metal

Exports in MENA

In 2021, the amount of lathes for removing metal exported in MENA skyrocketed to X units, rising by 86% compared with the previous year. In general, exports showed a tangible increase. The most prominent rate of growth was recorded in 2019 when exports increased by 988% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, lathe for removing metal exports skyrocketed to $X in 2021. Overall, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of 176%. The level of export peaked in 2021 and is likely to see gradual growth in the immediate term.

Exports by Country

Turkey was the main exporting country with an export of around X units, which amounted to 75% of total exports. The United Arab Emirates (X units) ranks second in terms of the total exports with a 16% share, followed by Iran (4.5%).

Turkey was also the fastest-growing in terms of the lathes for removing metal exports, with a CAGR of +23.2% from 2012 to 2021. Iran (-1.2%) and the United Arab Emirates (-10.7%) illustrated a downward trend over the same period. Turkey (+61 p.p.) significantly strengthened its position in terms of the total exports, while Iran and the United Arab Emirates saw its share reduced by -1.6% and -38% from 2012 to 2021, respectively.

In value terms, Turkey ($X) remains the largest lathe for removing metal supplier in MENA, comprising 77% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey stood at +29.4%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+14.5% per year) and Iran (+0.6% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2021, with a decrease of -11.4% against the previous year. In general, the export price, however, continues to indicate strong growth. The pace of growth was the most pronounced in 2020 when the export price increased by 1,495% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+28.2%), while the other leaders experienced more modest paces of growth.

Imports of Lathes For Removing Metal

Imports in MENA

In 2021, lathe for removing metal imports in MENA fell to X units, shrinking by -9.8% on the previous year's figure. In general, imports continue to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2014 with an increase of 1,543%. As a result, imports attained the peak of X units. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, lathe for removing metal imports surged to $X in 2021. The total import value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey was the major importer of lathes for removing metal in MENA, with the volume of imports amounting to X units, which was near 49% of total imports in 2021. The United Arab Emirates (X units) took a 23% share (based on physical terms) of total imports, which put it in second place, followed by Iran (9.1%). The following importers - Israel (X units), Oman (X units), Egypt (X units) and Iraq (X units) - together made up 12% of total imports.

From 2012 to 2021, average annual rates of growth with regard to lathe for removing metal imports into Turkey stood at +7.4%. At the same time, Iran (+16.6%) and Oman (+4.3%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing importer imported in MENA, with a CAGR of +16.6% from 2012-2021. By contrast, Israel (-2.6%), the United Arab Emirates (-8.7%), Iraq (-8.8%) and Egypt (-25.7%) illustrated a downward trend over the same period. Turkey (+31 p.p.) and Iran (+7.6 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates and Egypt saw its share reduced by -12.6% and -22.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported lathes for removing metal in MENA, comprising 71% of total imports. The second position in the ranking was taken by Israel ($X), with a 6.8% share of total imports. It was followed by the United Arab Emirates, with a 3.8% share.

In Turkey, lathe for removing metal imports expanded at an average annual rate of +4.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Israel (+3.0% per year) and the United Arab Emirates (-3.6% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per unit, jumping by 50% against the previous year. Over the period under review, the import price showed a prominent increase. The pace of growth was the most pronounced in 2018 when the import price increased by 229% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+30.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform