MENA: Railway Track Fixture Market 2024

Railway Track Fixture Market Size in MENA

The MENA's railway track fixture market skyrocketed to $X in 2021, picking up by 260% against the previous year. Over the period under review, consumption recorded a significant increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Railway Track Fixture Production in MENA

In value terms, railway track fixture production surged to $X in 2021 estimated in export price. Overall, production recorded significant growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 872%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Railway Track Fixture Exports

Exports in MENA

In 2021, overseas shipments of railway or tramway track fixtures and fittings decreased by -31.1% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports, however, showed significant growth. The growth pace was the most rapid in 2013 with an increase of 192%. The volume of export peaked at X tons in 2020, and then fell remarkably in the following year.

In value terms, railway track fixture exports rose remarkably to $X in 2021. Over the period under review, exports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 270%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Turkey represented the main exporter of railway or tramway track fixtures and fittings in MENA, with the volume of exports reaching X tons, which was near 76% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), achieving a 17% share of total exports. Israel (X tons) and Saudi Arabia (X tons) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to railway track fixture exports from Turkey stood at +21.0%. At the same time, Israel (+40.8%), the United Arab Emirates (+33.0%) and Saudi Arabia (+28.9%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in MENA, with a CAGR of +40.8% from 2012-2021. While the share of the United Arab Emirates (+9.1 p.p.) and Israel (+3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Turkey (-6.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest railway track fixture supplier in MENA, comprising 66% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with an 18% share of total exports. It was followed by Israel, with a 12% share.

In Turkey, railway track fixture exports increased at an average annual rate of +21.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (+32.8% per year) and Israel (+38.7% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, rising by 54% against the previous year. Over the period under review, the export price showed a modest expansion. The level of export peaked at $X per ton in 2014; however, from 2015 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 Israel ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+0.6%), while the other leaders experienced a decline in the export price figures.

Railway Track Fixture Imports

Imports in MENA

Railway track fixture imports declined remarkably to X tons in 2021, with a decrease of -16% against 2020. Over the period under review, imports, however, continue to indicate a tangible increase. The most prominent rate of growth was recorded in 2013 when imports increased by 69% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, railway track fixture imports contracted rapidly to $X in 2021. Total imports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -47.7% against 2016 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 101% against the previous year. The level of import peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

Saudi Arabia represented the main importer of railway or tramway track fixtures and fittings in MENA, with the volume of imports amounting to X tons, which was approx. 36% of total imports in 2021. The United Arab Emirates (X tons) took the second position in the ranking, followed by Algeria (X tons), Egypt (X tons), Israel (X tons) and Qatar (X tons). All these countries together held approx. 50% share of total imports. Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to railway track fixture imports into Saudi Arabia stood at +12.5%. At the same time, the United Arab Emirates (+19.3%), Kuwait (+18.6%), Israel (+18.5%), Egypt (+11.5%) and Qatar (+3.5%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of +19.3% from 2012-2021. By contrast, Algeria (-1.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Saudi Arabia, the United Arab Emirates, Israel, Egypt and Kuwait increased by +18, +12, +4.3, +3.3 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported railway or tramway track fixtures and fittings in MENA, comprising 30% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 12% share of total imports. It was followed by Israel, with a 10% share.

In Saudi Arabia, railway track fixture imports expanded at an average annual rate of +10.8% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+11.6% per year) and Israel (+22.1% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, falling by -8.9% against the previous year. Overall, the import price saw a slight decrease. The most prominent rate of growth was recorded in 2018 when the import price increased by 29%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Algeria (+4.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform