MENA: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in MENA

The MENA's machine-tool for working metal market contracted modestly to $X in 2021, shrinking by -2.1% against the previous year. Over the period under review, consumption showed a mild curtailment. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Machine Tools For Working Metal in MENA

In value terms, machine-tool for working metal production reduced to $X in 2021 estimated in export price. The total production indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +65.1% against 2016 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 28% against the previous year. The level of production peaked at $X in 2020, and then declined in the following year.

Exports of Machine Tools For Working Metal

Exports in MENA

In 2021, exports of machine tools for working metal in MENA skyrocketed to X units, jumping by 72% against 2020 figures. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, machine-tool for working metal exports skyrocketed to $X in 2021. Overall, exports continue to indicate a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey prevails in exports structure, reaching X units, which was near 91% of total exports in 2021. It was distantly followed by the United Arab Emirates (X units), constituting a 5.9% share of total exports.

Turkey was also the fastest-growing in terms of the machine tools for working metal exports, with a CAGR of +20.0% from 2012 to 2021. The United Arab Emirates (-18.8%) illustrated a downward trend over the same period. Turkey (+75 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -30.7% from 2012 to 2021, respectively.

In value terms, Turkey ($X) remains the largest machine-tool for working metal supplier in MENA, comprising 97% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 0.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Turkey stood at +7.9%.

Export Prices by Country

In 2021, the export price in MENA amounted to $X per unit, with an increase of 12% against the previous year. In general, the export price recorded a strong increase. The most prominent rate of growth was recorded in 2013 an increase of 147%. Over the period under review, the export prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.5%).

Imports of Machine Tools For Working Metal

Imports in MENA

In 2021, overseas purchases of machine tools for working metal increased by 51% to X units for the first time since 2014, thus ending a six-year declining trend. In general, imports, however, continue to indicate a deep downturn. Over the period under review, imports reached the maximum at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, machine-tool for working metal imports skyrocketed to $X in 2021. Over the period under review, imports, however, continue to indicate a noticeable curtailment. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates was the main importer of machine tools for working metal in MENA, with the volume of imports reaching X units, which was near 37% of total imports in 2021. Egypt (X units) held the second position in the ranking, followed by Israel (X units), Turkey (X units), Algeria (X units), Iraq (X units), Iran (X units), Kuwait (X units) and Morocco (X units). All these countries together took approx. 56% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to machine-tool for working metal imports into the United Arab Emirates stood at -7.5%. At the same time, Israel (+21.2%), Egypt (+8.7%), Turkey (+8.3%), Iraq (+4.6%) and Kuwait (+3.2%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in MENA, with a CAGR of +21.2% from 2012-2021. By contrast, Morocco (-4.1%), Algeria (-16.3%) and Iran (-16.3%) illustrated a downward trend over the same period. While the share of Israel (+8.3 p.p.), Egypt (+8 p.p.), Turkey (+5.8 p.p.), Iraq (+3.6 p.p.) and Kuwait (+3.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Iran (-8.3 p.p.) and Algeria (-11.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported machine tools for working metal in MENA, comprising 38% of total imports. The second position in the ranking was held by Egypt ($X), with a 13% share of total imports. It was followed by Israel, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey totaled -1.5%. In the other countries, the average annual rates were as follows: Egypt (+7.6% per year) and Israel (+12.8% per year).

Import Prices by Country

The import price in MENA stood at $X per unit in 2021, reducing by -10.1% against the previous year. In general, the import price, however, saw resilient growth. The pace of growth was the most pronounced in 2017 when the import price increased by 62%. The level of import peaked at $X per unit in 2020, and then declined in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Algeria (+15.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform