Middle East: Market for Lathes For Removing Metal 2024

Market Size for Lathes For Removing Metal in the Middle East

The Middle Eastern lathe for removing metal market surged to $X in 2021, growing by 45% against the previous year. In general, consumption saw a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Lathes For Removing Metal in the Middle East

In value terms, lathe for removing metal production surged to $X in 2021 estimated in export price. Over the period under review, production showed resilient growth. Over the period under review, lafor removing metal production reached the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Lathes For Removing Metal

Exports in the Middle East

In 2021, the amount of lathes for removing metal exported in the Middle East skyrocketed to X units, increasing by 90% against the year before. Overall, exports enjoyed measured growth. The pace of growth was the most pronounced in 2019 when exports increased by 2,172%. As a result, the exports reached the peak of X units. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, lathe for removing metal exports surged to $X in 2021. In general, exports showed prominent growth. The growth pace was the most rapid in 2015 with an increase of 180%. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

In 2021, Turkey (X units) represented the largest exporter of lathes for removing metal, creating 76% of total exports. The United Arab Emirates (X units) ranks second in terms of the total exports with a 16% share, followed by Iran (4.6%).

Turkey was also the fastest-growing in terms of the lathes for removing metal exports, with a CAGR of +23.2% from 2012 to 2021. Iran (-1.2%) and the United Arab Emirates (-10.7%) illustrated a downward trend over the same period. While the share of Turkey (+62 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Iran (-1.6 p.p.) and the United Arab Emirates (-38.5 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest lathe for removing metal supplier in the Middle East, comprising 79% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 11% share of total exports.

In Turkey, lathe for removing metal exports increased at an average annual rate of +29.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (+14.5% per year) and Iran (+0.6% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per unit, which is down by -14.4% against the previous year. In general, the export price, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2020 when the export price increased by 1,537%. Over the period under review, the export prices attained the maximum at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+28.2%), while the other leaders experienced more modest paces of growth.

Imports of Lathes For Removing Metal

Imports in the Middle East

Lathe for removing metal imports dropped slightly to X units in 2021, waning by -1.6% on the previous year. Over the period under review, imports saw a slight descent. The most prominent rate of growth was recorded in 2014 when imports increased by 98% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, lathe for removing metal imports skyrocketed to $X in 2021. Total imports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +108.9% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Turkey (X units) represented the major importer of lathes for removing metal, comprising 52% of total imports. The United Arab Emirates (X units) took the second position in the ranking, distantly followed by Iran (X units). All these countries together held near 35% share of total imports. Israel (X units), Oman (X units) and Iraq (X units) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to lathe for removing metal imports into Turkey stood at +7.4%. At the same time, Iran (+16.6%) and Oman (+4.3%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +16.6% from 2012-2021. By contrast, Israel (-2.6%), the United Arab Emirates (-8.7%) and Iraq (-8.8%) illustrated a downward trend over the same period. Turkey (+28 p.p.) and Iran (+7.7 p.p.) significantly strengthened its position in terms of the total imports, while Iraq and the United Arab Emirates saw its share reduced by -2.5% and -24.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported lathes for removing metal in the Middle East, comprising 76% of total imports. The second position in the ranking was taken by Israel ($X), with a 7.3% share of total imports. It was followed by the United Arab Emirates, with a 4.1% share.

From 2012 to 2021, the average annual growth rate of value in Turkey stood at +4.5%. The remaining importing countries recorded the following average annual rates of imports growth: Israel (+3.0% per year) and the United Arab Emirates (-3.6% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per unit, jumping by 53% against the previous year. Over the period under review, the import price continues to indicate notable growth. The pace of growth appeared the most rapid in 2020 an increase of 89%. The level of import peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iraq (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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