Middle East: Market for Machinery for Liquefying Air or Gases 2024

Market Size for Machinery for Liquefying Air or Gases in the Middle East

The Middle Eastern air or gas liquefier market reduced slightly to $X in 2022, waning by -4.9% against the previous year. In general, consumption, however, continues to indicate a pronounced expansion. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Production of Machinery for Liquefying Air or Gases in the Middle East

In value terms, air or gas liquefier production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate moderate growth. The growth pace was the most rapid in 2014 with an increase of 79% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Machinery for Liquefying Air or Gases

Exports in the Middle East

In 2022, overseas shipments of machinery for liquefying air or gases decreased by -34.3% to X units, falling for the second year in a row after four years of growth. Over the period under review, exports, however, saw a strong increase. The growth pace was the most rapid in 2015 with an increase of 525%. The volume of export peaked at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, air or gas liquefier exports declined to $X in 2022. Overall, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 215%. Over the period under review, the exports hit record highs at $X in 2021, and then dropped in the following year.

Exports by Country

In 2022, the United Arab Emirates (X units) represented the largest exporter of machinery for liquefying air or gases, committing 74% of total exports. Turkey (X units) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by Israel (8.7%). Oman (X units) took a little share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the machinery for liquefying air or gases exports, with a CAGR of +13.0% from 2012 to 2022. At the same time, Turkey (+4.1%) displayed positive paces of growth. By contrast, Israel (-41.5%) and Oman (-50.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Israel, Oman and the United Arab Emirates increased by +8.7, +4.3 and +2.5 percentage points, respectively.

In value terms, the United Arab Emirates ($X) remains the largest air or gas liquefier supplier in the Middle East, comprising 82% of total exports. The second position in the ranking was taken by Israel ($X), with a 10% share of total exports. It was followed by Oman, with a 3.4% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates stood at +48.8%. In the other countries, the average annual rates were as follows: Israel (+37.6% per year) and Oman (+59.1% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per unit, rising by 37% against the previous year. Over the period under review, the export price enjoyed significant growth. The most prominent rate of growth was recorded in 2016 an increase of 381% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

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 Israel ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+132.8%), while the other leaders experienced more modest paces of growth.

Imports of Machinery for Liquefying Air or Gases

Imports in the Middle East

In 2022, air or gas liquefier imports in the Middle East reduced markedly to X units, shrinking by -30.8% compared with the previous year's figure. Overall, imports saw a slight downturn. The growth pace was the most rapid in 2015 with an increase of 5,170%. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, air or gas liquefier imports dropped markedly to $X in 2022. In general, imports continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2017 with an increase of 103%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X units) and Turkey (X units) represented the key importers of machinery for liquefying air or gases in 2022, resulting at near 27% and 22% of total imports, respectively. Iran (X units) took the next position in the ranking, followed by Qatar (X units), Iraq (X units), Oman (X units) and Yemen (X units). All these countries together held near 47% share of total imports. Israel (X units) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Yemen (with a CAGR of +73.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Iraq ($X) constituted the countries with the highest levels of imports in 2022, together comprising 74% of total imports.

Iraq, with a CAGR of +15.9%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the Middle East stood at $X per unit in 2022, rising by 15% against the previous year. In general, the import price, however, saw a abrupt contraction. The pace of growth appeared the most rapid in 2016 when the import price increased by 1,044%. Over the period under review, import prices reached the maximum at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iraq (+4.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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