MENA: Screwdriver Market 2024

Screwdriver Market Size in MENA

The MENA's screwdriver market surged to $X in 2021, with an increase of 27% against the previous year. In general, consumption showed a slight contraction. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Screwdriver Production in MENA

In value terms, screwdriver production skyrocketed to $X in 2021 estimated in export price. Overall, production recorded prominent growth. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Screwdriver Exports

Exports in MENA

In 2021, overseas shipments of screwdrivers increased by 13% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2013 when exports increased by 54%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, screwdriver exports skyrocketed to $X in 2021. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 50%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, the United Arab Emirates (X tons) was the key exporter of screwdrivers, achieving 58% of total exports. It was distantly followed by Turkey (X tons), creating a 34% share of total exports. The following exporters - Oman (X tons), Israel (X tons) and Lebanon (X tons) - each recorded a 6.6% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Lebanon (with a CAGR of +36.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) remains the largest screwdriver supplier in MENA, comprising 58% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 26% share of total exports. It was followed by Israel, with a 9.3% 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 (-0.6% per year) and Israel (+13.4% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, growing by 9.5% against the previous year. Overall, the export price saw strong growth. The pace of growth appeared the most rapid in 2014 when the export price increased by 94% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 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, amid the top suppliers, the country with the highest price was Israel ($X per ton), while the United Arab Emirates ($X per ton) 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 (+8.6%), while the other leaders experienced more modest paces of growth.

Screwdriver Imports

Imports in MENA

In 2021, imports of screwdrivers in MENA dropped to X tons, waning by -7.9% compared with 2020 figures. In general, imports continue to indicate a noticeable slump. The most prominent rate of growth was recorded in 2014 when imports increased by 25%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, screwdriver imports amounted to $X in 2021. The total import value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when imports increased by 24%. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons) and Iraq (X tons) were the main importers of screwdrivers in 2021, recording approx. 25% and 22% of total imports, respectively. Saudi Arabia (X tons) ranks next in terms of the total imports with a 12% share, followed by Morocco (7.3%) and Algeria (6.2%). The following importers - Iran (X tons), Qatar (X tons), Israel (X tons), Libya (X tons), Turkey (X tons), Yemen (X tons), Oman (X tons) and Jordan (X tons) - together made up 21% of total imports.

From 2012 to 2021, the biggest increases were recorded for Yemen (with a CAGR of +39.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest screwdriver importing markets in MENA were the United Arab Emirates ($X), Iraq ($X) and Saudi Arabia ($X), with a combined 52% share of total imports. Israel, Algeria, Turkey, Morocco, Iran, Yemen, Libya, Jordan, Oman and Qatar lagged somewhat behind, together comprising a further 40%.

Yemen, with a CAGR of +46.3%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, rising by 14% against the previous year. Import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, screwdriver import price increased by +33.8% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the import price increased by 22%. Over the period under review, import prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jordan (+11.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform