Middle East: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in the Middle East

The Middle Eastern grinding and sharpening machine market expanded markedly to $X in 2022, with an increase of 9.6% against the previous year. Overall, consumption enjoyed a resilient expansion. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in years to come.

Production of Grinding And Sharpening Metal Finishing Machines in the Middle East

In value terms, grinding and sharpening machine production rose modestly to $X in 2022 estimated in export price. Over the period under review, production enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 61%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports in the Middle East

For the third year in a row, the Middle East recorded growth in overseas shipments of grinding and sharpening metal finishing machines, which increased by 4.6% to X units in 2022. In general, exports enjoyed strong growth. The pace of growth appeared the most rapid in 2017 when exports increased by 149%. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, grinding and sharpening machine exports skyrocketed to $X in 2022. Total exports indicated moderate 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, exports increased by +50.8% against 2018 indices. The growth pace was the most rapid in 2018 when exports increased by 46%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Turkey (X units) and the United Arab Emirates (X units) prevails in exports structure, together comprising 85% of total exports. It was distantly followed by Israel (X units), mixing up a 4.6% share of total exports. Bahrain (X units) and Saudi Arabia (X units) took a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Bahrain (with a CAGR of +16.2%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) remains the largest grinding and sharpening machine supplier in the Middle East, comprising 75% of total exports. The second position in the ranking was taken by Israel ($X), with a 10% share of total exports. It was followed by the United Arab Emirates, with a 9.4% share.

In Turkey, grinding and sharpening machine exports expanded at an average annual rate of +6.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Israel (+5.2% per year) and the United Arab Emirates (+15.3% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per unit, growing by 33% against the previous year. Overall, the export price, however, showed a noticeable slump. The growth pace was the most rapid in 2019 when the export price increased by 110%. Over the period under review, the export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 ($X per unit), while Bahrain ($X per unit) 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 (+4.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports in the Middle East

In 2022, purchases abroad of grinding and sharpening metal finishing machines increased by 32% to X units, rising for the third consecutive year after two years of decline. In general, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 90%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, grinding and sharpening machine imports rose notably to $X in 2022. Overall, imports, however, saw a abrupt curtailment. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Turkey prevails in imports structure, amounting to X units, which was approx. 92% of total imports in 2022. The following importers - the United Arab Emirates (X units) and Bahrain (X units) - each finished at a 3.9% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to grinding and sharpening machine imports into Turkey stood at +19.1%. At the same time, Bahrain (+22.5%) and the United Arab Emirates (+2.9%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +22.5% from 2012-2022. Turkey (+14 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by -6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported grinding and sharpening metal finishing machines in the Middle East, comprising 57% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 7.2% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to -8.8%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+6.5% per year) and Bahrain (-4.0% per year).

Import Prices by Country

The import price in the Middle East stood at $X per unit in 2022, reducing by -15.2% against the previous year. In general, the import price continues to indicate a precipitous contraction. The pace of growth was the most pronounced in 2019 an increase of 40%. Over the period under review, import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a 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 the United Arab Emirates ($X per unit), while Bahrain ($X per unit) 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 (+3.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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