Middle East: Wood Bending Machine Market 2024

Wood Bending Machine Market Size in the Middle East

In 2021, the Middle Eastern wood bending machine market increased by 68% to $X, rising for the second consecutive year after four years of decline. Overall, consumption, however, continues to indicate a abrupt slump. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Wood Bending Machine Production in the Middle East

In value terms, wood bending machine production rose significantly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 15% against the previous year. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Wood Bending Machine Exports

Exports in the Middle East

In 2021, overseas shipments of bending or assembling machines decreased by -7.8% to X units for the first time since 2015, thus ending a five-year rising trend. Over the period under review, exports, however, showed a strong increase. The pace of growth was the most pronounced in 2020 with an increase of 57%. As a result, the exports reached the peak of X units, and then contracted in the following year.

In value terms, wood bending machine exports soared to $X in 2021. Total exports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from Turkey (X units), together resulting at 98% of total export.

Turkey was also the fastest-growing in terms of the bending or assembling machines exports, with a CAGR of +7.0% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) also remains the largest wood bending machine supplier in the Middle East.

In Turkey, wood bending machine exports increased at an average annual rate of +2.4% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per unit, picking up by 92% against the previous year. In general, the export price, however, recorded a noticeable contraction. Over the period under review, the export prices reached the maximum at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2012 to 2021, the rate of growth in terms of prices for Turkey amounted to -4.3% per year.

Wood Bending Machine Imports

Imports in the Middle East

In 2021, supplies from abroad of bending or assembling machines increased by 24% to X units, rising for the second consecutive year after four years of decline. In general, imports, however, saw a drastic downturn. The pace of growth was the most pronounced in 2020 with an increase of 2,350% against the previous year. The volume of import peaked at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, wood bending machine imports reduced remarkably to $X in 2021. Over the period under review, imports, however, saw a deep contraction. The pace of growth was the most pronounced in 2020 when imports increased by 93% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Qatar prevails in imports structure, reaching X units, which was near 89% of total imports in 2021. It was distantly followed by Iraq (X units), making up a 5.7% share of total imports. The United Arab Emirates (X units) followed a long way behind the leaders.

Imports into Qatar decreased at an average annual rate of -14.2% from 2012 to 2021. At the same time, the United Arab Emirates (+26.3%) and Iraq (+12.8%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +26.3% from 2012-2021. From 2012 to 2021, the share of Iraq and the United Arab Emirates increased by +5.1 and +2.5 percentage points, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported bending or assembling machines in the Middle East, comprising 32% of total imports. The second position in the ranking was taken by Iraq ($X), with a 9.8% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates totaled +19.1%. The remaining importing countries recorded the following average annual rates of imports growth: Iraq (+7.2% per year) and Qatar (-6.3% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per unit, reducing by -57.7% against the previous year. Overall, the import price, however, showed strong growth. The pace of growth was the most pronounced in 2019 when the import price increased by 4,321% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2021, the import prices remained at a lower figure.

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 the United Arab Emirates ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+9.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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