Middle East: Rock Cutter Market 2024

Rock Cutter Market Size in the Middle East

In 2022, the Middle Eastern rock cutter market increased by 14% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, continues to indicate a abrupt descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Rock Cutter Production in the Middle East

In value terms, rock cutter production expanded slightly to $X in 2022 estimated in export price. In general, production, however, saw strong growth. The pace of growth was the most pronounced in 2015 with an increase of 129%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Rock Cutter Exports

Exports in the Middle East

In 2022, after three years of growth, there was significant decline in overseas shipments of coal or rock cutters and tunnelling machinery, when their volume decreased by -26.4% to X units. Over the period under review, exports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of 402% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, rock cutter exports shrank significantly to $X in 2022. In general, exports, however, posted resilient growth. The pace of growth was the most pronounced in 2019 with an increase of 334%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates represented the main exporting country with an export of about X units, which accounted for 42% of total exports. Saudi Arabia (X units) ranks second in terms of the total exports with a 27% share, followed by Oman (21%) and Kuwait (6%).

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +26.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the largest rock cutter supplier in the Middle East, comprising 52% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 23% share of total exports. It was followed by Oman, with a 14% share.

In the United Arab Emirates, rock cutter exports expanded at an average annual rate of +20.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (+8.6% per year) and Oman (+21.2% per year).

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2022, surging by 7.5% against the previous year. Export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rock cutter export price decreased by -34.7% against 2017 indices. The growth pace was the most rapid in 2017 an increase of 54% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2022, the export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+7.4%), while the other leaders experienced more modest paces of growth.

Rock Cutter Imports

Imports in the Middle East

In 2022, supplies from abroad of coal or rock cutters and tunnelling machinery increased by 4.2% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports, however, saw a noticeable decrease. The pace of growth was the most pronounced in 2016 with an increase of 116% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, rock cutter imports shrank to $X in 2022. Overall, imports, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2015 when imports increased by 133% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Qatar (X units), distantly followed by Turkey (X units), the United Arab Emirates (X units), Iran (X units), Israel (X units), Oman (X units) and Kuwait (X units) were the key importers of coal or rock cutters and tunnelling machinery, together generating 92% of total imports.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +33.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest rock cutter importing markets in the Middle East were Qatar ($X), the United Arab Emirates ($X) and Israel ($X), together comprising 45% of total imports. Kuwait, Turkey, Oman and Iran lagged somewhat behind, together accounting for a further 28%.

Kuwait, with a CAGR of +74.0%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the Middle East stood at $X per unit in 2022, dropping by -18% against the previous year. Over the period under review, the import price continues to indicate a noticeable downturn. The growth pace was the most rapid in 2015 an increase of 309%. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the 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 Kuwait ($X per unit), while Iran ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+35.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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