MENA: Market for Turbo, Rotary and Reciporating Displacement Compressors 2024

Market Size for Turbo, Rotary and Reciporating Displacement Compressors in MENA

The MENA's market for turbo, rotary and reciporating displacement compressors dropped modestly to $X in 2022, with a decrease of -3.3% against the previous year. The market value increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Turbo, Rotary and Reciporating Displacement Compressors in MENA

In value terms, production of turbo, rotary and reciporating displacement compressors shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the production volume increased by 45%. Over the period under review, production of reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports in MENA

Exports of turbo, rotary and reciporating displacement compressors declined to X units in 2022, with a decrease of -8.3% against the previous year's figure. Overall, exports, however, continue to indicate prominent growth. The pace of growth appeared the most rapid in 2021 with an increase of 55% against the previous year. As a result, the exports reached the peak of X units, and then contracted in the following year.

In value terms, exports of turbo, rotary and reciporating displacement compressors expanded sharply to $X in 2022. In general, exports, however, showed a buoyant increase. The growth pace was the most rapid in 2017 with an increase of 100%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Turkey was the key exporting country with an export of around X units, which amounted to 85% of total exports. It was distantly followed by the United Arab Emirates (X units), comprising a 13% share of total exports.

Turkey was also the fastest-growing in terms of the turbo, rotary and reciporating displacement compressors exports, with a CAGR of +10.5% from 2012 to 2022. At the same time, the United Arab Emirates (+2.6%) displayed positive paces of growth. From 2012 to 2022, the share of Turkey increased by +11 percentage points.

In value terms, Turkey ($X) remains the largest turbo, rotary and reciporating displacement compressor supplier in MENA, comprising 82% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey amounted to +11.6%.

Export Prices by Country

The export price in MENA stood at $X per unit in 2022, surging by 22% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 41%. Over the period under review, the export prices reached the maximum in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the United Arab Emirates stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+1.0%).

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports in MENA

After two years of growth, purchases abroad of turbo, rotary and reciporating displacement compressors decreased by -1.6% to X units in 2022. The total import volume increased at an average annual rate of +4.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 37%. Over the period under review, imports of hit record highs at X units in 2021, and then reduced in the following year.

In value terms, imports of turbo, rotary and reciporating displacement compressors declined slightly to $X in 2022. Over the period under review, imports showed a noticeable downturn. The growth pace was the most rapid in 2020 when imports increased by 17% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Turkey (X units), distantly followed by the United Arab Emirates (X units), Egypt (X units), Algeria (X units), Iraq (X units), Kuwait (X units), Iran (X units) and Israel (X units) were the largest importers of turbo, rotary and reciporating displacement compressors, together making up 88% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Algeria (with a CAGR of +18.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest turbo, rotary and reciporating displacement compressor importing markets in MENA were the United Arab Emirates ($X), Turkey ($X) and Algeria ($X), with a combined 50% share of total imports.

Algeria, with a CAGR of +16.8%, 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

In 2022, the import price in MENA amounted to $X per unit, standing approx. at the previous year. Overall, the import price recorded a deep setback. The most prominent rate of growth was recorded in 2018 an increase of 4.9% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Iran ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Algeria (-1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform