Middle East: Market for Machine-Tools For Working Wood 2024

Market Size for Machine-Tools For Working Wood in the Middle East

The Middle Eastern machine-tool for working wood market surged to $X in 2021, with an increase of 21% against the previous year. Overall, consumption, however, showed a slight slump. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Production of Machine-Tools For Working Wood in the Middle East

In value terms, machine-tool for working wood production shrank modestly to $X in 2021 estimated in export price. The total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.6% 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 +117.4% against 2013 indices. The pace of growth was the most pronounced in 2014 with an increase of 55%. The level of production peaked at $X in 2020, and then contracted in the following year.

Exports of Machine-Tools For Working Wood

Exports in the Middle East

In 2021, the amount of machine-tools for working wood exported in the Middle East surged to X tons, increasing by 72% on the previous year. Overall, exports posted a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, machine-tool for working wood exports surged to $X in 2021. Over the period under review, exports enjoyed a strong increase. 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, recording X tons, which was approx. 94% of total exports in 2021. The United Arab Emirates (X tons) took a little share of total exports.

Turkey was also the fastest-growing in terms of the machine-tools for working wood exports, with a CAGR of +10.4% from 2012 to 2021. The United Arab Emirates (-5.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey increased by +13 percentage points.

In value terms, Turkey ($X) remains the largest machine-tool for working wood supplier in the Middle East, comprising 95% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey amounted to +9.2%.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, remaining constant against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by 16% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.8%).

Imports of Machine-Tools For Working Wood

Imports in the Middle East

In 2021, overseas purchases of machine-tools for working wood increased by 57% to X tons, rising for the second year in a row after four years of decline. Total imports indicated a slight increase from 2012 to 2021: its volume increased at an average annual rate of +1.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +95.3% against 2019 indices. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, machine-tool for working wood imports soared to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Turkey was the largest importer of machine-tools for working wood in the Middle East, with the volume of imports accounting for X tons, which was near 39% of total imports in 2021. It was distantly followed by Iran (X tons), the United Arab Emirates (X tons), Iraq (X tons), Saudi Arabia (X tons) and Israel (X tons), together comprising a 50% share of total imports. Oman (X tons) followed a long way behind the leaders.

Imports into Turkey increased at an average annual rate of +1.0% from 2012 to 2021. At the same time, Oman (+10.5%), the United Arab Emirates (+9.0%), Iraq (+8.3%), Israel (+4.1%) and Iran (+3.7%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +10.5% from 2012-2021. By contrast, Saudi Arabia (-12.1%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+6.9 p.p.), Iraq (+4.5 p.p.) and Iran (+3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Saudi Arabia (-15.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported machine-tools for working wood in the Middle East, comprising 46% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 14% share of total imports. It was followed by Iran, with a 13% share.

In Turkey, machine-tool for working wood imports remained relatively stable over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+4.7% per year) and Iran (+0.7% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, with a decrease of -3% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 7.1%. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+4.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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