Middle East: Interchangeable Tool Market 2025

Interchangeable Tool Market Size in the Middle East

For the third year in a row, the Middle Eastern interchangeable tool market recorded growth in sales value, which increased by 1.7% to $X in 2021. The market value increased at an average annual rate of +3.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2021 and is likely to see gradual growth in years to come.

Interchangeable Tool Production in the Middle East

In value terms, interchangeable tool production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2020 with an increase of 39% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Interchangeable Tool Exports

Exports in the Middle East

In 2021, shipments abroad of interchangeable tools for hand tools increased by 45% to X tons, rising for the third year in a row after two years of decline. Total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +8.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +72.7% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, interchangeable tool exports skyrocketed to $X in 2021. Total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +8.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +31.3% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey dominates exports structure, resulting at X tons, which was near 81% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), committing a 9.4% share of total exports. The following exporters - Oman (X tons) and Israel (X tons) - each finished at a 7.8% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to interchangeable tool exports from Turkey stood at +18.7%. At the same time, Oman (+32.0%) and the United Arab Emirates (+5.0%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +32.0% from 2012-2021. By contrast, Israel (-16.6%) illustrated a downward trend over the same period. While the share of Turkey (+45 p.p.) and Oman (+3.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-3.1 p.p.) and Israel (-35.5 p.p.) displayed negative dynamics.

In value terms, the largest interchangeable tool supplying countries in the Middle East were Israel ($X), Turkey ($X) and the United Arab Emirates ($X), with a combined 94% share of total exports. Oman lagged somewhat behind, accounting for a further 1.2%.

Oman, with a CAGR of +17.5%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, dropping by -11.5% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 35%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Israel ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+27.6%), while the other leaders experienced mixed trends in the export price figures.

Interchangeable Tool Imports

Imports in the Middle East

For the third consecutive year, the Middle East recorded growth in overseas purchases of interchangeable tools for hand tools, which increased by 13% to X tons in 2021. The total import volume increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when imports increased by 17% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, interchangeable tool imports rose rapidly to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 21% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Saudi Arabia (X tons), distantly followed by Turkey (X tons), the United Arab Emirates (X tons), Iran (X tons) and Iraq (X tons) were the largest importers of interchangeable tools for hand tools, together achieving 83% of total imports. Qatar (X tons), Kuwait (X tons) and Oman (X tons) held a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Kuwait (with a CAGR of +8.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest interchangeable tool importing markets in the Middle East were Turkey ($X), Saudi Arabia ($X) and the United Arab Emirates ($X), with a combined 69% share of total imports. Kuwait, Iran, Iraq, Oman and Qatar lagged somewhat behind, together comprising a further 22%.

Among the main importing countries, Kuwait, with a CAGR of +10.4%, saw the highest growth rate of the value of imports, 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 ton in 2021, therefore, remained relatively stable against the previous year. Overall, the import price saw a noticeable reduction. The pace of growth was the most pronounced in 2018 an increase of 13% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Kuwait ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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