Middle East: Market for Hand-Operated Drilling, Threading or Tapping Tools 2024

Market Size for Hand-Operated Drilling, Threading or Tapping Tools in the Middle East

After two years of growth, the Middle Eastern market for hand-operated drilling, threading or tapping tools decreased by -25.5% to $X in 2022. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2021, and then dropped markedly in the following year.

Production of Hand-Operated Drilling, Threading or Tapping Tools in the Middle East

In value terms, production of hand-operated drilling, threading or tapping tools reached $X in 2022 estimated in export price. The total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +7.5% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 50% against the previous year. Over the period under review, production of reached the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Hand-Operated Drilling, Threading or Tapping Tools

Exports in the Middle East

In 2022, after four years of decline, there was significant growth in overseas shipments of hand-operated drilling, threading or tapping tools, when their volume increased by 23% to X tons. Over the period under review, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 40% against the previous year. Over the period under review, the exports of attained the maximum at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, exports of hand-operated drilling, threading or tapping tools declined to $X in 2022. The total export value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when exports increased by 27%. Over the period under review, the exports of attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Israel (X tons) and the United Arab Emirates (X tons) were the major exporters of hand-operated drilling, threading or tapping tools in 2022, finishing at near 45% and 36% of total exports, respectively. It was distantly followed by Turkey (X tons), committing a 14% share of total exports. The following exporters - Oman (X tons) and Saudi Arabia (X tons) - each accounted for a 3.5% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +9.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X) remains the largest hand-operated drilling, threading or tapping tool supplier in the Middle East, comprising 79% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 9.8% share of total exports. It was followed by Turkey, with a 7.4% share.

In Israel, exports of hand-operated drilling, threading or tapping tools increased at an average annual rate of +2.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+5.0% per year) and Turkey (-8.9% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, declining by -21.4% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the export price increased by 29% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per ton), while the United Arab Emirates ($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 (+4.4%), while the other leaders experienced more modest paces of growth.

Imports of Hand-Operated Drilling, Threading or Tapping Tools

Imports in the Middle East

After three years of growth, purchases abroad of hand-operated drilling, threading or tapping tools decreased by -55.3% to X tons in 2022. Overall, imports continue to indicate a noticeable descent. The growth pace was the most rapid in 2017 when imports increased by 96% against the previous year. Over the period under review, imports of hit record highs at X tons in 2021, and then dropped markedly in the following year.

In value terms, imports of hand-operated drilling, threading or tapping tools fell markedly to $X in 2022. Over the period under review, imports recorded a pronounced shrinkage. The pace of growth was the most pronounced in 2017 when imports increased by 72% against the previous year. Over the period under review, imports of hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of imports of hand-operated drilling, threading or tapping tools in 2022 were Iraq (X tons), Oman (X tons), the United Arab Emirates (X tons) and Qatar (X tons), together accounting for 80% of total import. Turkey (X tons) ranks next in terms of the total imports with a 5% share, followed by Kuwait (4.7%). Iran (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +18.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hand-operated drilling, threading or tapping tool importing markets in the Middle East were the United Arab Emirates ($X), Iraq ($X) and Turkey ($X), with a combined 58% share of total imports. Qatar, Kuwait, Oman and Iran lagged somewhat behind, together comprising a further 30%.

Kuwait, with a CAGR of +13.0%, recorded 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 mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, rising by 28% against the previous year. In general, the import price, however, recorded a perceptible descent. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 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 ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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