MENA: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in MENA

The MENA's machine-tool for drilling market rose modestly to $X in 2022, growing by 2% against the previous year. The total consumption indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.1% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Machine-Tool For Drilling Production in MENA

In value terms, machine-tool for drilling production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 64%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Machine-Tool For Drilling Exports

Exports in MENA

In 2022, approx. X units of machine-tools for drilling, boring or milling metal were exported in MENA; picking up by 4.1% on 2021 figures. In general, exports posted a measured increase. The most prominent rate of growth was recorded in 2019 when exports increased by 359%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, machine-tool for drilling exports dropped to $X in 2022. Overall, exports, however, continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2018 with an increase of 44% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from Israel (X units), the United Arab Emirates (X units) and Turkey (X units), together resulting at 87% of total export. It was distantly followed by Kuwait (X units), committing a 6.3% share of total exports. Jordan (X units) held a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Kuwait (with a CAGR of +39.1%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) remains the largest machine-tool for drilling supplier in MENA, comprising 71% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 9.6% share of total exports. It was followed by Israel, with a 3.2% share.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to +4.1%. In the other countries, the average annual rates were as follows: the United Arab Emirates (-8.9% per year) and Israel (-32.7% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2022, which is down by -6.5% against the previous year. In general, the export price recorded a abrupt decrease. The most prominent rate of growth was recorded in 2020 when the export price increased by 315% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+2.1%), while the other leaders experienced a decline in the export price figures.

Machine-Tool For Drilling Imports

Imports in MENA

Machine-tool for drilling imports soared to X units in 2022, increasing by 32% compared with the previous year's figure. Over the period under review, imports, however, continue to indicate a perceptible reduction. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, machine-tool for drilling imports shrank rapidly to $X in 2022. Overall, imports, however, continue to indicate a noticeable setback. The pace of growth appeared the most rapid in 2021 with an increase of 41%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X units), Turkey (X units) and Egypt (X units) represented roughly 58% of total imports in 2022. Iraq (X units) ranks next in terms of the total imports with a 9.7% share, followed by Israel (7.7%) and Morocco (4.9%). Iran (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Iraq (with a CAGR of +18.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported machine-tools for drilling, boring or milling metal in MENA, comprising 49% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 15% share of total imports. It was followed by Israel, with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at -3.1%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (-0.8% per year) and Israel (-3.8% per year).

Import Prices by Country

The import price in MENA stood at $X per unit in 2022, which is down by -39.3% against the previous year. Over the period under review, the import price showed a slight slump. The pace of growth appeared the most rapid in 2021 an increase of 121% against the previous year. As a result, import price reached the peak level of $X per unit, and then plummeted in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkey ($X per unit), while Iraq ($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 (+8.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform