MENA: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in MENA

The MENA's balancing mechanical parts machine market contracted slightly to $X in 2021, which is down by -2.1% against the previous year. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. 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 Machines For Balancing Mechanical Parts in MENA

In value terms, balancing mechanical parts machine production shrank to $X in 2021 estimated in export price. Over the period under review, production, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2017 when the production volume increased by 35%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Machines For Balancing Mechanical Parts

Exports in MENA

For the fourth consecutive year, MENA recorded decline in shipments abroad of machines for balancing mechanical parts, which decreased by -7.9% to X units in 2021. Over the period under review, exports saw a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of 141%. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, balancing mechanical parts machine exports skyrocketed to $X in 2021. In general, exports saw a abrupt setback. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Turkey was the major exporter of machines for balancing mechanical parts in MENA, with the volume of exports recording X units, which was near 43% of total exports in 2021. Israel (X units) took a 25% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (21%) and Kuwait (5.1%). Oman (X units) held a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for Kuwait (with a CAGR of +101.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X) remains the largest balancing mechanical parts machine supplier in MENA, comprising 76% of total exports. The second position in the ranking was taken by Turkey ($X), with a 10% share of total exports. It was followed by the United Arab Emirates, with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Israel amounted to -8.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (-7.7% per year) and the United Arab Emirates (+11.1% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2021, increasing by 165% against the previous year. In general, the export price enjoyed a prominent increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+21.7%), while the other leaders experienced mixed trends in the export price figures.

Imports of Machines For Balancing Mechanical Parts

Imports in MENA

In 2021, purchases abroad of machines for balancing mechanical parts increased by 17% to X units, rising for the second year in a row after three years of decline. The total import volume increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 25%. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, balancing mechanical parts machine imports surged to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Turkey was the major importer of machines for balancing mechanical parts in MENA, with the volume of imports reaching X units, which was approx. 40% of total imports in 2021. Morocco (X units) held the second position in the ranking, distantly followed by the United Arab Emirates (X units). All these countries together held near 34% share of total imports. The following importers - Egypt (X units), Kuwait (X units), Israel (X units), Oman (X units), Lebanon (X units), Iraq (X units), Algeria (X units) and Iran (X units) - together made up 23% of total imports.

From 2012 to 2021, the biggest increases were recorded for Morocco (with a CAGR of +23.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported machines for balancing mechanical parts in MENA, comprising 24% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 11% share of total imports. It was followed by Morocco, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey was relatively modest. In the other countries, the average annual rates were as follows: the United Arab Emirates (-1.1% per year) and Morocco (+17.8% per year).

Import Prices by Country

The import price in MENA stood at $X per unit in 2021, surging by 22% against the previous year. Overall, the import price, however, saw a noticeable descent. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Iran ($X per unit), while Lebanon ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+12.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform