Middle East: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in the Middle East

In 2021, after two years of growth, there was significant decline in the Middle Eastern oil dispensing pump market, when its value decreased by -9.5% to $X. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. Over the period under review, the market reached the peak level at $X in 2020, and then contracted in the following year.

Oil Dispensing Pump Production in the Middle East

In value terms, oil dispensing pump production shrank to $X in 2021 estimated in export price. The total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -10.8% against 2018 indices. The pace of growth appeared the most rapid in 2013 with an increase of 40%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Oil Dispensing Pump Exports

Exports in the Middle East

After two years of decline, shipments abroad of petrol and oil dispensing pumps increased by 168% to X units in 2021. In general, exports saw a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, oil dispensing pump exports surged to $X in 2021. Over the period under review, exports enjoyed strong 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, reaching X units, which was near 94% of total exports in 2021. The following exporters - Saudi Arabia (X units) and the United Arab Emirates (X units) - together made up 5% of total exports.

Turkey was also the fastest-growing in terms of the petrol and oil dispensing pumps exports, with a CAGR of +28.2% from 2012 to 2021. At the same time, Saudi Arabia (+20.0%) displayed positive paces of growth. By contrast, the United Arab Emirates (-28.8%) illustrated a downward trend over the same period. While the share of Turkey (+74 p.p.) and Saudi Arabia (+2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-73.9 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest oil dispensing pump supplier in the Middle East, comprising 89% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 5.9% share of total exports.

In Turkey, oil dispensing pump exports increased at an average annual rate of +16.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (+11.7% per year) and the United Arab Emirates (-2.0% per year).

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2021, with a decrease of -28.2% against the previous year. Over the period under review, the export price, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2020 when the export price increased by 121%. The level of export peaked at $X per unit in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Saudi Arabia ($X per unit), while Turkey ($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 (+37.6%), while the other leaders experienced a decline in the export price figures.

Oil Dispensing Pump Imports

Imports in the Middle East

In 2021, purchases abroad of petrol and oil dispensing pumps increased by 18% to X units, rising for the third year in a row after three years of decline. Total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.6% 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 +70.6% against 2018 indices. The most prominent rate of growth was recorded in 2015 with an increase of 49%. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the near future.

In value terms, oil dispensing pump imports reduced to $X in 2021. In general, imports, however, continue to indicate a mild decline. The growth pace was the most rapid in 2015 when imports increased by 24%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Saudi Arabia (X units) represented the main importer of petrol and oil dispensing pumps, committing 54% of total imports. The United Arab Emirates (X units) ranks second in terms of the total imports with a 20% share, followed by Turkey (7.3%) and Israel (4.9%). The following importers - Iraq (X units), Oman (X units) and Jordan (X units) - together made up 10% of total imports.

Imports into Saudi Arabia increased at an average annual rate of +11.1% from 2012 to 2021. At the same time, the United Arab Emirates (+11.9%), Turkey (+10.9%) and Jordan (+8.0%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +11.9% from 2012-2021. By contrast, Israel (-5.4%), Iraq (-5.4%) and Oman (-5.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Saudi Arabia, the United Arab Emirates and Turkey increased by +20, +8.1 and +2.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported petrol and oil dispensing pumps in the Middle East, comprising 35% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 15% share of total imports. It was followed by Turkey, with a 14% share.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia was relatively modest. In the other countries, the average annual rates were as follows: the United Arab Emirates (+5.9% per year) and Turkey (+7.1% per year).

Import Prices by Country

The import price in the Middle East stood at $X per unit in 2021, declining by -17.8% against the previous year. Overall, the import price recorded a deep downturn. The pace of growth was the most pronounced in 2018 an increase of 13% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Jordan ($X per unit), while Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jordan (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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