Middle East: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in the Middle East

In 2021, the Middle Eastern machine-tool for working metal market decreased by -10.9% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption continues to indicate a noticeable shrinkage. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Production of Machine Tools For Working Metal in the Middle East

In value terms, machine-tool for working metal production declined slightly to $X in 2021 estimated in export price. The total production indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +65.1% against 2016 indices. The growth pace was the most rapid in 2019 with an increase of 28%. The level of production peaked at $X in 2020, and then contracted modestly in the following year.

Exports of Machine Tools For Working Metal

Exports in the Middle East

In 2021, approx. X units of machine tools for working metal were exported in the Middle East; with an increase of 73% on the previous year. Overall, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, machine-tool for working metal exports skyrocketed to $X in 2021. In general, exports continue to indicate resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey prevails in exports structure, amounting to X units, which was approx. 92% of total exports in 2021. It was distantly followed by the United Arab Emirates (X units), achieving a 5.9% share of total exports.

Turkey was also the fastest-growing in terms of the machine tools for working metal exports, with a CAGR of +20.0% from 2012 to 2021. The United Arab Emirates (-18.8%) illustrated a downward trend over the same period. Turkey (+75 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -31% from 2012 to 2021, respectively.

In value terms, Turkey ($X) remains the largest machine-tool for working metal supplier in the Middle East, comprising 98% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 0.7% share of total exports.

In Turkey, machine-tool for working metal exports expanded at an average annual rate of +7.9% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per unit, with an increase of 12% against the previous year. Over the period under review, the export price showed a resilient expansion. The pace of growth was the most pronounced in 2013 an increase of 152%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Turkey ($X per unit), while the United Arab Emirates stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.5%).

Imports of Machine Tools For Working Metal

Imports in the Middle East

In 2021, purchases abroad of machine tools for working metal increased by 67% to X units for the first time since 2014, thus ending a six-year declining trend. Overall, imports, however, continue to indicate a abrupt curtailment. The volume of import peaked at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, machine-tool for working metal imports skyrocketed to $X in 2021. In general, imports, however, continue to indicate a perceptible descent. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

The United Arab Emirates represented the major importing country with an import of around X units, which recorded 50% of total imports. Israel (X units) took the second position in the ranking, followed by Turkey (X units), Iraq (X units), Iran (X units) and Kuwait (X units). All these countries together held approx. 45% share of total imports. Oman (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to machine-tool for working metal imports into the United Arab Emirates stood at -7.5%. At the same time, Israel (+21.2%), Turkey (+8.3%), Iraq (+4.6%) and Kuwait (+3.2%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +21.2% from 2012-2021. By contrast, Oman (-11.5%) and Iran (-16.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Israel, Turkey, Iraq and Kuwait increased by +11, +7.8, +4.8 and +4.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported machine tools for working metal in the Middle East, comprising 50% of total imports. The second position in the ranking was taken by Israel ($X), with a 16% share of total imports. It was followed by the United Arab Emirates, with a 10% share.

In Turkey, machine-tool for working metal imports shrank by an average annual rate of -1.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Israel (+12.8% per year) and the United Arab Emirates (-1.7% per year).

Import Prices by Country

The import price in the Middle East stood at $X per unit in 2021, dropping by -17.1% against the previous year. Over the period under review, the import price, however, continues to indicate a moderate expansion. The most prominent rate of growth was recorded in 2017 when the import price increased by 65%. The level of import peaked at $X per unit in 2020, and then fell notably in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Turkey ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+7.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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