MENA: Flywheels And Pulleys Market 2024

Flywheels And Pulleys Market Size in MENA

The MENA's flywheels and pulleys market expanded remarkably to $X in 2021, growing by 7.2% against the previous year. The total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +7.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +82.6% against 2015 indices. The level of consumption peaked in 2021 and is likely to see gradual growth in years to come.

Flywheels And Pulleys Production in MENA

In value terms, flywheels and pulleys production skyrocketed to $X in 2021 estimated in export price. In general, production enjoyed a significant increase. The pace of growth appeared the most rapid in 2018 with an increase of 150%. The level of production peaked in 2021 and is likely to see steady growth in years to come.

Flywheels And Pulleys Exports

Exports in MENA

In 2021, shipments abroad of flywheels and pulleys increased by 24% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports showed buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of 208% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, flywheels and pulleys exports surged to $X in 2021. In general, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 185%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

Turkey dominates exports structure, resulting at X tons, which was approx. 89% of total exports in 2021. It was distantly followed by Tunisia (X tons), comprising a 9% share of total exports.

Turkey was also the fastest-growing in terms of the flywheels and pulleys exports, with a CAGR of +17.8% from 2012 to 2021. At the same time, Tunisia (+13.3%) displayed positive paces of growth. While the share of Turkey (+6.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Tunisia (-2.8 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest flywheels and pulleys supplier in MENA, comprising 91% of total exports. The second position in the ranking was held by Tunisia ($X), with a 6.7% share of total exports.

In Turkey, flywheels and pulleys exports increased at an average annual rate of +22.5% over the period from 2012-2021.

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, with an increase of 4.2% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.8%. The most prominent rate of growth was recorded in 2016 when the export price increased by 22%. Over the period under review, the export prices reached the maximum in 2021 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Tunisia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tunisia (+4.3%).

Flywheels And Pulleys Imports

Imports in MENA

In 2021, supplies from abroad of flywheels and pulleys decreased by -0.3% to X tons, falling for the second year in a row after three years of growth. The total import volume increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when imports increased by 25%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, flywheels and pulleys imports expanded to $X in 2021. The total import value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2013 when imports increased by 10%. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Turkey dominates imports structure, recording X tons, which was approx. 60% of total imports in 2021. The United Arab Emirates (X tons) took the second position in the ranking, followed by Algeria (X tons). All these countries together took approx. 14% share of total imports. Saudi Arabia (X tons), Morocco (X tons), Israel (X tons), Tunisia (X tons), Iraq (X tons), Oman (X tons) and Egypt (X tons) took a minor share of total imports.

Turkey was also the fastest-growing in terms of the flywheels and pulleys imports, with a CAGR of +10.3% from 2012 to 2021. At the same time, Morocco (+8.3%), Iraq (+7.0%), the United Arab Emirates (+6.8%), Israel (+4.9%) and Algeria (+3.2%) displayed positive paces of growth. Oman experienced a relatively flat trend pattern. By contrast, Tunisia (-1.9%), Egypt (-5.1%) and Saudi Arabia (-11.7%) illustrated a downward trend over the same period. Turkey (+24 p.p.) and the United Arab Emirates (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Tunisia, Egypt and Saudi Arabia saw its share reduced by -1.8%, -2.4% and -14.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported flywheels and pulleys in MENA, comprising 55% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 11% share of total imports. It was followed by Algeria, with a 6.9% share.

In Turkey, flywheels and pulleys imports expanded at an average annual rate of +5.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+1.6% per year) and Algeria (+4.9% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, picking up by 5.3% against the previous year. In general, the import price, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in 2016 an increase of 11% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Morocco (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform