Middle East: Machinery Electrical Parts Market 2024

Machinery Electrical Parts Market Size in the Middle East

The Middle Eastern machinery electrical parts market reduced to $X in 2022, shrinking by -11.9% against the previous year. The total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +16.0% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Machinery Electrical Parts Production in the Middle East

In value terms, machinery electrical parts production reduced slightly to $X in 2022 estimated in export price. In general, production, however, showed a temperate expansion. The most prominent rate of growth was recorded in 2016 with an increase of 36% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Machinery Electrical Parts Exports

Exports in the Middle East

In 2022, machinery electrical parts exports in the Middle East fell remarkably to X tons, which is down by -32.9% compared with the previous year's figure. In general, exports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 443%. As a result, the exports reached the peak of X tons, and then dropped remarkably in the following year.

In value terms, machinery electrical parts exports declined sharply to $X in 2022. Overall, exports, however, posted prominent growth. The pace of growth was the most pronounced in 2021 with an increase of 192%. As a result, the exports reached the peak of $X, and then dropped dramatically in the following year.

Exports by Country

In 2022, Turkey (X tons) represented the largest exporter of electrical parts of machinery or apparatus, comprising 58% of total exports. It was distantly followed by the United Arab Emirates (X tons), generating a 37% share of total exports. Israel (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Turkey (with a CAGR of +13.0%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest machinery electrical parts supplying countries in the Middle East were Israel ($X), Turkey ($X) and the United Arab Emirates ($X), with a combined 98% share of total exports.

In terms of the main exporting countries, Turkey, with a CAGR of +19.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, remaining constant against the previous year. In general, the export price, however, saw a modest expansion. The most prominent rate of growth was recorded in 2015 an increase of 112%. Over the period under review, the export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: 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 Israel (+9.0%), while the other leaders experienced mixed trends in the export price figures.

Machinery Electrical Parts Imports

Imports in the Middle East

In 2022, purchases abroad of electrical parts of machinery or apparatus decreased by -48.8% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2021 when imports increased by 2,020%. As a result, imports attained the peak of X tons, and then reduced remarkably in the following year.

In value terms, machinery electrical parts imports contracted notably to $X in 2022. In general, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 2,270% against the previous year. As a result, imports attained the peak of $X, and then shrank remarkably in the following year.

Imports by Country

Turkey dominates imports structure, finishing at X tons, which was near 92% of total imports in 2022. It was distantly followed by the United Arab Emirates (X tons), achieving a 5.5% share of total imports.

Turkey was also the fastest-growing in terms of the electrical parts of machinery or apparatus imports, with a CAGR of +93.5% from 2012 to 2022. At the same time, the United Arab Emirates (+12.2%) displayed positive paces of growth. Turkey (+92 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by -6.4% from 2012 to 2022, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported electrical parts of machinery or apparatus in the Middle East, comprising 94% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 2.1% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to +71.4%.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, increasing by 1.9% against the previous year. Import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, machinery electrical parts import price increased by +13.9% against 2020 indices. The growth pace was the most rapid in 2013 an increase of 57% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2019; however, from 2020 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 ton), while the United Arab Emirates stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-9.4%).

Source: IndexBox Platform

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