Middle East: Market for Industrial, Laboratory or Bakery Ovens 2024

Market Size for Industrial, Laboratory or Bakery Ovens in the Middle East

The Middle Eastern market for industrial, laboratory or bakery ovens dropped modestly to $X in 2022, stabilizing at the previous year. Overall, consumption, however, recorded a prominent expansion. The level of consumption peaked at $X in 2021, and then reduced slightly in the following year.

Production of Industrial, Laboratory or Bakery Ovens in the Middle East

In value terms, industrial, laboratory or bakery oven production dropped modestly to $X in 2022 estimated in export price. In general, production, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by 65%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Industrial, Laboratory or Bakery Ovens

Exports in the Middle East

In 2022, exports of industrial, laboratory or bakery ovens in the Middle East dropped sharply to X units, which is down by -15.3% against 2021 figures. Overall, exports, however, posted prominent growth. The pace of growth appeared the most rapid in 2019 with an increase of 76%. Over the period under review, the exports attained the maximum at X units in 2021, and then reduced dramatically in the following year.

In value terms, industrial, laboratory or bakery oven exports reduced to $X in 2022. Total exports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.6% 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 +15.0% against 2020 indices. The growth pace was the most rapid in 2014 when exports increased by 36%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey dominates exports structure, reaching X units, which was near 98% of total exports in 2022. Israel (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to industrial, laboratory or bakery oven exports from Turkey stood at +6.6%. At the same time, Israel (+12.8%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +12.8% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest industrial, laboratory or bakery oven supplier in the Middle East, comprising 78% of total exports. The second position in the ranking was held by Israel ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Turkey stood at +1.0%.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per unit, growing by 4.2% against the previous year. In general, the export price, however, saw a pronounced reduction. The growth pace was the most rapid in 2013 when the export price increased by 47% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat 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 unit), while Turkey amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+4.6%).

Imports of Industrial, Laboratory or Bakery Ovens

Imports in the Middle East

After six years of growth, supplies from abroad of industrial, laboratory or bakery ovens decreased by -17.9% to X units in 2022. Over the period under review, imports, however, posted resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of 72% against the previous year. As a result, imports attained the peak of X units, and then fell rapidly in the following year.

In value terms, industrial, laboratory or bakery oven imports fell significantly to $X in 2022. Total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.3% against 2016 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 52%. As a result, imports reached the peak of $X, and then plummeted in the following year.

Imports by Country

In 2022, the United Arab Emirates (X units) represented the major importer of industrial, laboratory or bakery ovens, committing 48% of total imports. Israel (X units) ranks second in terms of the total imports with a 22% share, followed by Turkey (11%) and Kuwait (4.6%). The following importers - Iraq (X units) and Qatar (X units) - each finished at a 7.8% share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the industrial, laboratory or bakery ovens imports, with a CAGR of +18.5% from 2012 to 2022. At the same time, Israel (+14.3%), Kuwait (+11.0%) and Qatar (+10.2%) displayed positive paces of growth. Turkey experienced a relatively flat trend pattern. By contrast, Iraq (-1.7%) illustrated a downward trend over the same period. The United Arab Emirates (+26 p.p.) and Israel (+7.1 p.p.) significantly strengthened its position in terms of the total imports, while Iraq and Turkey saw its share reduced by -8.6% and -18.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), Israel ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 74% of total imports.

The United Arab Emirates, with a CAGR of +12.6%, saw the highest rates of growth with regard to the value of imports, in terms of 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, with an increase of 1.8% against the previous year. In general, the import price, however, showed a deep setback. The most prominent rate of growth was recorded in 2015 an increase of 15% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+0.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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