Middle East: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in the Middle East

The Middle Eastern hydraulic cylinder and system market expanded slightly to $X in 2022, surging by 1.7% against the previous year. Over the period under review, consumption enjoyed resilient growth. The level of consumption peaked at $X in 2019; afterwards, it flattened through to 2022.

Production of Hydraulic Cylinders And Systems in the Middle East

In value terms, hydraulic cylinder and system production declined to $X in 2022 estimated in export price. Over the period under review, production posted a buoyant expansion. The pace of growth was the most pronounced in 2018 with an increase of 80%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Hydraulic Cylinders And Systems

Exports in the Middle East

In 2022, shipments abroad of hydraulic cylinders and systems increased by 18% to X units, rising for the sixth consecutive year after two years of decline. Overall, exports posted a buoyant increase. The growth pace was the most rapid in 2021 when exports increased by 50% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, hydraulic cylinder and system exports surged to $X in 2022. Over the period under review, exports saw a remarkable increase. The most prominent rate of growth was recorded in 2021 when exports increased by 57% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

Turkey prevails in exports structure, amounting to X units, which was near 92% of total exports in 2022. It was distantly followed by the United Arab Emirates (X units), making up a 6.4% share of total exports.

Exports from Turkey increased at an average annual rate of +8.5% from 2012 to 2022. At the same time, the United Arab Emirates (+17.6%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +17.6% from 2012-2022. Turkey (+9.7 p.p.) and the United Arab Emirates (+3.8 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest hydraulic cylinder and system supplier in the Middle East, comprising 89% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 8.5% share of total exports.

In Turkey, hydraulic cylinder and system exports increased at an average annual rate of +10.4% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per thousand units, surging by 4.2% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 17%. As a result, the export price attained the peak level of $X per thousand units. From 2019 to 2022, the export prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per thousand units), while Turkey amounted to $X per thousand units.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+1.7%).

Imports of Hydraulic Cylinders And Systems

Imports in the Middle East

In 2022, overseas purchases of hydraulic cylinders and systems decreased by -0.3% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, saw strong growth. The growth pace was the most rapid in 2021 when imports increased by 52%. As a result, imports reached the peak of X units, leveling off in the following year.

In value terms, hydraulic cylinder and system imports soared to $X in 2022. Total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +9.4% 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 +17.6% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 25% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Turkey represented the key importing country with an import of around X units, which reached 44% of total imports. The United Arab Emirates (X units) ranks second in terms of the total imports with a 26% share, followed by Iran (12%), Israel (8%) and Iraq (5%). Oman (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Turkey (with a CAGR of +23.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported hydraulic cylinders and systems in the Middle East, comprising 42% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 20% share of total imports. It was followed by Israel, with a 14% share.

In Turkey, hydraulic cylinder and system imports expanded at an average annual rate of +20.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+4.5% per year) and Israel (+16.5% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per unit, picking up by 18% against the previous year. Over the period under review, the import price, however, saw a perceptible shrinkage. The pace of growth was the most pronounced in 2019 when the import price increased by 19% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the 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 Israel ($X per unit), while Iran (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+1.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :