Middle East: Market for Iron Or Steel Bridges And Bridge-Sections 2024

Market Size for Iron Or Steel Bridges And Bridge-Sections in the Middle East

The Middle Eastern iron or steel bridges market contracted rapidly to $X in 2022, reducing by -30.8% against the previous year. The total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -34.4% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Iron Or Steel Bridges And Bridge-Sections in the Middle East

In value terms, iron or steel bridges production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a noticeable increase. The growth pace was the most rapid in 2018 with an increase of 99%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Iron Or Steel Bridges And Bridge-Sections

Exports in the Middle East

In 2022, overseas shipments of iron or steel bridges and bridge-sections were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports posted a prominent increase. The pace of growth appeared the most rapid in 2017 when exports increased by 120%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, iron or steel bridges exports surged to $X in 2022. Overall, exports recorded a strong expansion. The growth pace was the most rapid in 2017 when exports increased by 79% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

Bahrain dominates exports structure, recording X tons, which was near 78% of total exports in 2022. The United Arab Emirates (X tons) ranks second in terms of the total exports with a 9.3% share, followed by Saudi Arabia (5.7%). The following exporters - Kuwait (X tons), Jordan (X tons) and Turkey (X tons) - each recorded a 6.2% share of total exports.

Bahrain was also the fastest-growing in terms of the iron or steel bridges and bridge-sections exports, with a CAGR of +203.3% from 2012 to 2022. At the same time, Jordan (+11.7%) and the United Arab Emirates (+1.7%) displayed positive paces of growth. Turkey experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-4.3%) and Kuwait (-7.9%) illustrated a downward trend over the same period. While the share of Bahrain (+78 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Turkey (-6.3 p.p.), Kuwait (-18 p.p.), the United Arab Emirates (-22.3 p.p.) and Saudi Arabia (-29.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bahrain ($X) remains the largest iron or steel bridges supplier in the Middle East, comprising 73% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 12% share of total exports. It was followed by Saudi Arabia, with a 6% share.

In Bahrain, iron or steel bridges exports expanded at an average annual rate of +192.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+2.1% per year) and Saudi Arabia (-5.1% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, with an increase of 13% against the previous year. Overall, the export price, however, recorded a noticeable slump. The pace of growth appeared the most rapid in 2021 when the export price increased by 29%. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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 Turkey ($X per ton), while Bahrain ($X per ton) 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 (+0.4%), while the other leaders experienced mixed trends in the export price figures.

Imports of Iron Or Steel Bridges And Bridge-Sections

Imports in the Middle East

In 2022, supplies from abroad of iron or steel bridges and bridge-sections decreased by -4.5% to X tons, falling for the second year in a row after two years of growth. Overall, imports, however, showed a strong expansion. The pace of growth appeared the most rapid in 2017 with an increase of 70% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, iron or steel bridges imports reduced dramatically to $X in 2022. Total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 25%. The level of import peaked at $X in 2021, and then fell significantly in the following year.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) dominates imports structure, together making up 80% of total imports. Oman (X tons) held a 9.3% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (5.3%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the United Arab Emirates (with a CAGR of +24.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 86% share of total imports.

Among the main importing countries, the United Arab Emirates, with a CAGR of +19.4%, saw the highest rates of growth with regard to 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

In 2022, the import price in the Middle East amounted to $X per ton, declining by -13.2% against the previous year. In general, the import price saw a noticeable descent. The pace of growth appeared the most rapid in 2014 when the import price increased by 26% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Oman ($X per ton) and Kuwait ($X per ton), while Saudi Arabia ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (-0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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