Middle East: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in the Middle East

The Middle Eastern machine-tool for drilling market stood at $X in 2022, approximately equating the previous year. The total consumption indicated measured 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 increased by +87.8% against 2016 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Machine-Tool For Drilling Production in the Middle East

In value terms, machine-tool for drilling production declined modestly to $X in 2022 estimated in export price. In general, production, however, saw strong growth. The growth pace was the most rapid in 2019 with an increase of 64%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Machine-Tool For Drilling Exports

Exports in the Middle East

In 2022, machine-tool for drilling exports in the Middle East rose modestly to X units, picking up by 4.3% on the previous year's figure. Overall, exports recorded a buoyant expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 397%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, machine-tool for drilling exports declined to $X in 2022. In general, exports, however, saw a abrupt downturn. The pace of growth appeared the most rapid in 2018 when exports increased by 48%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The shipments of the three major exporters of machine-tools for drilling, boring or milling metal, namely Israel, the United Arab Emirates and Turkey, represented more than two-thirds of total export. It was distantly followed by Kuwait (X units), mixing up a 6.4% share of total exports. Jordan (X units) took a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +39.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) remains the largest machine-tool for drilling supplier in the Middle East, comprising 72% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 9.8% share of total exports. It was followed by Israel, with a 3.3% share.

In Turkey, machine-tool for drilling exports expanded at an average annual rate of +4.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (-8.9% per year) and Israel (-32.7% per year).

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2022, reducing by -4.5% against the previous year. Over the period under review, the export price continues to indicate a deep reduction. The growth pace was the most rapid in 2020 when the export price increased by 330% against the previous year. The level of export peaked 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 Turkey ($X per unit), while Israel ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+2.1%), while the other leaders experienced a decline in the export price figures.

Machine-Tool For Drilling Imports

Imports in the Middle East

Machine-tool for drilling imports surged to X units in 2022, picking up by 34% on 2021 figures. Overall, imports, however, recorded a mild descent. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, machine-tool for drilling imports shrank dramatically to $X in 2022. Over the period under review, imports, however, showed a perceptible slump. The most prominent rate of growth was recorded in 2021 when imports increased by 50% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X units) and Turkey (X units) represented roughly 58% of total imports in 2022. Iraq (X units) ranks next in terms of the total imports with a 14% share, followed by Israel (11%) and Iran (4.5%). The following importers - Oman (X units) and Kuwait (X units) - each recorded a 5.4% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Iraq (with a CAGR of +18.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported machine-tools for drilling, boring or milling metal in the Middle East, comprising 57% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 17% share of total imports. It was followed by Israel, with a 9.5% share.

In Turkey, machine-tool for drilling imports shrank by an average annual rate of -3.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (-0.8% per year) and Israel (-3.8% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per unit, falling by -40.7% against the previous year. In general, the import price recorded a noticeable contraction. The most prominent rate of growth was recorded in 2021 an increase of 55%. Over the period under review, import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+7.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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