MENA: Market for Toothed wheels, chain sprockets and other transmission elements 2024

Market Size for Toothed wheels, chain sprockets and other transmission elements in MENA

In 2021, the MENA's market for toothed wheels, chain sprockets and other transmission elements increased by 13% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Production of Toothed wheels, chain sprockets and other transmission elements in MENA

In value terms, production of toothed wheels, chain sprockets and other transmission elements rose rapidly 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 +1.8% 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 decreased by -28.5% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 38% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production of growth remained at a lower figure.

Exports of Toothed wheels, chain sprockets and other transmission elements

Exports in MENA

In 2021, shipments abroad of toothed wheels, chain sprockets and other transmission elements increased by 7.9% to X tons, rising for the fifth year in a row after two years of decline. Overall, exports posted a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of 72% against the previous year. The volume of export peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, exports of toothed wheels, chain sprockets and other transmission elements surged to $X in 2021. Total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +88.4% against 2016 indices. The growth pace was the most rapid in 2018 with an increase of 31% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in years to come.

Exports by Country

Turkey dominates elements structure, resulting at X tons, which was approx. 96% of total exports in 2021. The United Arab Emirates (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the toothed wheels, chain sprockets and other transmission elements exports, with a CAGR of +11.7% from 2012 to 2021. At the same time, the United Arab Emirates (+3.7%) displayed positive paces of growth. From 2012 to 2021, the share of Turkey increased by +3.2 percentage points.

In value terms, Turkey ($X) remains the largest toothed wheels, chain sprockets and other transmission elements supplier in MENA, comprising 84% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with an 8.1% share of total exports.

In Turkey, exports of toothed wheels, chain sprockets and other transmission elements increased at an average annual rate of +7.3% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, picking up by 9.9% against the previous year. Overall, the export price, however, recorded a noticeable downturn. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a 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 the United Arab Emirates ($X per ton), while Turkey amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-2.4%).

Imports of Toothed wheels, chain sprockets and other transmission elements

Imports in MENA

In 2021, overseas purchases of toothed wheels, chain sprockets and other transmission elements increased by 7% to X tons, rising for the third consecutive year after three years of decline. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +10.5% against 2018 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 40%. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, imports of toothed wheels, chain sprockets and other transmission elements skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 27%. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

Imports by Country

Turkey represented the major importing country with an import of about X tons, which resulted at 49% of total imports. The United Arab Emirates (X tons) took the second position in the ranking, followed by Saudi Arabia (X tons), Iran (X tons) and Israel (X tons). All these countries together held approx. 33% share of total imports. Algeria (X tons) and Tunisia (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the toothed wheels, chain sprockets and other transmission elements imports, with a CAGR of +13.6% from 2012 to 2021. At the same time, Israel (+7.4%), the United Arab Emirates (+6.0%) and Algeria (+2.5%) displayed positive paces of growth. Tunisia and Iran experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-3.8%) illustrated a downward trend over the same period. While the share of Turkey (+24 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Iran (-3.8 p.p.) and Saudi Arabia (-10.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) were the countries with the highest levels of imports in 2021, together comprising 66% of total imports.

Turkey, with a CAGR of +11.9%, 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 more modest paces of growth.

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, surging by 13% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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 Algeria ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform