MENA: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in MENA

In 2022, the MENA's self-propelled boring machinery market increased by 3% to $X, rising for the second year in a row after three years of decline. Overall, consumption, however, recorded a abrupt contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Self-Propelled Boring Machinery Production in MENA

In value terms, self-propelled boring machinery production contracted slightly to $X in 2022 estimated in export price. Overall, production, however, saw a buoyant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 158%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Self-Propelled Boring Machinery Exports

Exports in MENA

In 2022, shipments abroad of self-propelled boring or sinking machinery decreased by -16.4% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, showed a tangible increase. The most prominent rate of growth was recorded in 2017 when exports increased by 77% against the previous year. The volume of export peaked at X units in 2021, and then fell sharply in the following year.

In value terms, self-propelled boring machinery exports contracted to $X in 2022. In general, exports saw a perceptible downturn. The pace of growth was the most pronounced in 2017 when exports increased by 122% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey dominates exports structure, amounting to X units, which was approx. 76% of total exports in 2022. It was distantly followed by Yemen (X units), making up an 8.7% share of total exports. The United Arab Emirates (X units), Kuwait (X units) and Oman (X units) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the self-propelled boring or sinking machinery exports, with a CAGR of +21.1% from 2012 to 2022. At the same time, Yemen (+15.9%) and Kuwait (+2.0%) displayed positive paces of growth. By contrast, Oman (-4.0%) and the United Arab Emirates (-17.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and Yemen increased by +59 and +5.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest self-propelled boring machinery supplier in MENA, comprising 64% of total exports. The second position in the ranking was taken by Yemen ($X), with a 15% share of total exports. It was followed by the United Arab Emirates, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Turkey stood at +17.5%. In the other countries, the average annual rates were as follows: Yemen (+24.4% per year) and the United Arab Emirates (-19.3% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2022, surging by 9.5% against the previous year. Overall, the export price, however, saw a abrupt curtailment. The pace of growth appeared the most rapid in 2017 when the export price increased by 25%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+12.5%), while the other leaders experienced more modest paces of growth.

Self-Propelled Boring Machinery Imports

Imports in MENA

In 2022, approx. X units of self-propelled boring or sinking machinery were imported in MENA; declining by -2.4% on 2021. Over the period under review, imports showed a deep slump. The pace of growth appeared the most rapid in 2021 with an increase of 9.9% against the previous year. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, self-propelled boring machinery imports reached $X in 2022. Overall, imports saw a abrupt downturn. The pace of growth appeared the most rapid in 2021 with an increase of 72%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Saudi Arabia (X units), distantly followed by Syrian Arab Republic (X units), Egypt (X units), the United Arab Emirates (X units), Turkey (X units) and Iran (X units) were the main importers of self-propelled boring or sinking machinery, together comprising 81% of total imports. Israel (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +17.3%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Turkey ($X), Egypt ($X) and Saudi Arabia ($X) were the countries with the highest levels of imports in 2022, together accounting for 56% of total imports.

Egypt, with a CAGR of +25.0%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in MENA stood at $X per unit in 2022, with an increase of 6.6% against the previous year. Import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, self-propelled boring machinery import price increased by +66.7% against 2020 indices. The pace of growth was the most pronounced in 2021 when the import price increased by 56%. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+6.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform