MENA: Ship Propeller Market 2025

Ship Propeller Market Size in MENA

In 2022, after two years of decline, there was significant growth in the MENA's ship propeller market, when its value increased by 20% to $X. The total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 -8.1% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Ship Propeller Production in MENA

In value terms, ship propeller production contracted to $X in 2022 estimated in export price. In general, production, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2014 when the production volume increased by 43%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Ship Propeller Exports

Exports in MENA

In 2022, approx. X tons of ships’ or boats’ propellers and blades therefor were exported in MENA; surging by 70% compared with the year before. Overall, exports enjoyed a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, ship propeller exports skyrocketed to $X in 2022. Total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +70.1% against 2020 indices. The growth pace was the most rapid in 2018 when exports increased by 54%. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

Bahrain was the largest exporting country with an export of about X tons, which finished at 51% of total exports. Morocco (X tons) ranks second in terms of the total exports with a 30% share, followed by Oman (7%) and Turkey (5.1%). The United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of +84.0%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest ship propeller supplying countries in MENA were Morocco ($X), Bahrain ($X) and Oman ($X), together comprising 83% of total exports.

Bahrain, with a CAGR of +76.2%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, reducing by -15.6% against the previous year. Export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ship propeller export price decreased by -26.5% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of 31%. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+21.8%), while the other leaders experienced more modest paces of growth.

Ship Propeller Imports

Imports in MENA

In 2022, ship propeller imports in MENA surged to X tons, with an increase of 24% against the year before. In general, imports enjoyed prominent growth. The pace of growth was the most pronounced in 2015 with an increase of 69% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, ship propeller imports expanded notably to $X in 2022. Total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -9.5% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 58%. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Turkey was the largest importing country with an import of about X tons, which finished at 57% of total imports. The United Arab Emirates (X tons) held a 23% share (based on physical terms) of total imports, which put it in second place, followed by Egypt (14%).

From 2012 to 2022, average annual rates of growth with regard to ship propeller imports into Turkey stood at +14.6%. At the same time, Egypt (+17.5%) and the United Arab Emirates (+10.9%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing importer imported in MENA, with a CAGR of +17.5% from 2012-2022. While the share of Turkey (+15 p.p.) and Egypt (+6.3 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported ships’ or boats’ propellers and blades therefor in MENA, comprising 60% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 17% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey totaled +8.6%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (-3.5% per year) and Egypt (+11.1% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, falling by -10.1% against the previous year. In general, the import price showed a deep downturn. The pace of growth appeared the most rapid in 2018 an increase of 25% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (-5.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform