MENA: Winche And Capstan Market 2024

Winche And Capstan Market Size in MENA

For the third consecutive year, the MENA's winche and capstan market recorded decline in sales value, which decreased by -7% to $X in 2021. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Winche And Capstan Production in MENA

In value terms, winche and capstan production amounted to $X in 2021 estimated in export price. The total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% 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 -28.4% against 2018 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 81%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Winche And Capstan Exports

Exports in MENA

In 2021, shipments abroad of winches and capstans increased by 45% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 139% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, winche and capstan exports skyrocketed to $X in 2021. Overall, exports saw prominent growth. The pace of growth appeared the most rapid in 2018 with an increase of 88%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, Turkey (X units) was the key exporter of winches and capstans, comprising 70% of total exports. Saudi Arabia (X units) held the second position in the ranking, followed by Oman (X units) and the United Arab Emirates (X units). All these countries together held near 26% share of total exports. Algeria (X units) took a relatively small share of total exports.

Turkey was also the fastest-growing in terms of the winches and capstans exports, with a CAGR of +63.1% from 2012 to 2021. At the same time, Saudi Arabia (+31.0%), Oman (+22.1%) and Algeria (+15.2%) displayed positive paces of growth. By contrast, the United Arab Emirates (-2.9%) illustrated a downward trend over the same period. Turkey (+65 p.p.) and Saudi Arabia (+6.8 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -37% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest winche and capstan supplier in MENA, comprising 72% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 9.4% share of total exports. It was followed by Oman, with a 7.6% share.

From 2012 to 2021, the average annual growth rate of value in Turkey amounted to +22.1%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (-9.1% per year) and Oman (+27.9% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per unit, falling by -4.5% against the previous year. In general, the export price saw a abrupt contraction. The pace of growth was the most pronounced in 2018 when the export price increased by 116%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the United Arab Emirates ($X per unit), while Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+4.7%), while the other leaders experienced mixed trends in the export price figures.

Winche And Capstan Imports

Imports in MENA

In 2021, supplies from abroad of winches and capstans increased by 14% to X units for the first time since 2018, thus ending a two-year declining trend. In general, imports continue to indicate modest growth. The most prominent rate of growth was recorded in 2016 when imports increased by 60% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, winche and capstan imports skyrocketed to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 38%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Turkey (X units) represented the major importer of winches and capstans, mixing up 49% of total imports. It was distantly followed by the United Arab Emirates (X units), Israel (X units) and Morocco (X units), together comprising a 34% share of total imports. The following importers - Algeria (X units), Egypt (X units) and Oman (X units) - each reached a 9.8% share of total imports.

Turkey was also the fastest-growing in terms of the winches and capstans imports, with a CAGR of +11.9% from 2012 to 2021. At the same time, Algeria (+4.3%), Israel (+2.6%) and Morocco (+2.4%) displayed positive paces of growth. By contrast, Oman (-1.2%), the United Arab Emirates (-3.6%) and Egypt (-8.2%) illustrated a downward trend over the same period. Turkey (+29 p.p.) significantly strengthened its position in terms of the total imports, while Egypt and the United Arab Emirates saw its share reduced by -4.8% and -12.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest winche and capstan importing markets in MENA were Turkey ($X), the United Arab Emirates ($X) and Israel ($X), together comprising 57% of total imports.

Turkey, with a CAGR of +11.0%, recorded the highest rates of growth with regard to 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

The import price in MENA stood at $X per unit in 2021, picking up by 5.5% against the previous year. Overall, the import price, however, showed a mild curtailment. The growth pace was the most rapid in 2017 an increase of 120%. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform