Middle East: Flywheels And Pulleys Market 2024

Flywheels And Pulleys Market Size in the Middle East

For the sixth consecutive year, the Middle Eastern flywheels and pulleys market recorded growth in sales value, which increased by 8.5% to $X in 2021. Over the period under review, consumption posted strong growth. The level of consumption peaked in 2021 and is likely to see steady growth in years to come.

Flywheels And Pulleys Production in the Middle East

In value terms, flywheels and pulleys production surged to $X in 2021 estimated in export price. Overall, production showed significant growth. The pace of growth was the most pronounced in 2018 when the production volume increased by 156%. The level of production peaked in 2021 and is likely to see steady growth in the near future.

Flywheels And Pulleys Exports

Exports in the Middle East

In 2021, shipments abroad of flywheels and pulleys was finally on the rise to reach X tons after two years of decline. Overall, exports saw a resilient expansion. The growth pace was the most rapid in 2015 with an increase of 186% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, flywheels and pulleys exports surged to $X in 2021. In general, exports posted a significant increase. The growth pace was the most rapid in 2015 with an increase of 179%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

The shipments of the one major exporters of flywheels and pulleys, namely Turkey, represented more than two-thirds of total export.

Turkey was also the fastest-growing in terms of the flywheels and pulleys exports, with a CAGR of +17.8% from 2012 to 2021. While the share of Turkey (+4.2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) also remains the largest flywheels and pulleys supplier in the Middle East.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey totaled +22.5%.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, rising by 11% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.7%. The most prominent rate of growth was recorded in 2013 when the export price increased by 12% against the previous year. Over the period under review, the export prices attained the maximum in 2021 and is likely to see steady growth in years to come.

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 +4.0% per year.

Flywheels And Pulleys Imports

Imports in the Middle East

In 2021, supplies from abroad of flywheels and pulleys decreased by -3.8% to X tons, falling for the second year in a row after three years of growth. The total import volume increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when imports increased by 27% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, flywheels and pulleys imports rose slightly to $X in 2021. The total import value increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by 10%. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

Turkey represented the main importing country with an import of around X tons, which finished at 70% of total imports. It was distantly followed by the United Arab Emirates (X tons), Saudi Arabia (X tons) and Israel (X tons), together making up a 20% share of total imports. The following importers - Iraq (X tons), Oman (X tons) and Iran (X tons) - each amounted to a 6.2% share of total imports.

Turkey was also the fastest-growing in terms of the flywheels and pulleys imports, with a CAGR of +10.3% from 2012 to 2021. At the same time, Iraq (+7.0%), the United Arab Emirates (+6.8%) and Israel (+4.9%) displayed positive paces of growth. Oman experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-11.7%) and Iran (-14.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey and the United Arab Emirates increased by +26 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported flywheels and pulleys in the Middle East, comprising 65% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 13% share of total imports. It was followed by Israel, with a 6.4% share.

In Turkey, flywheels and pulleys imports increased at an average annual rate of +5.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (+1.6% per year) and Israel (+3.8% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2021, growing by 5.6% against the previous year. Overall, the import price, however, showed a pronounced contraction. The pace of growth appeared the most rapid in 2016 an increase of 11%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Oman ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iraq (+2.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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