Middle East: Ship Propeller Market 2025

Ship Propeller Market Size in the Middle East

The Middle Eastern ship propeller market rose significantly to $X in 2022, with an increase of 10% against the previous year. The total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.9% against 2020 indices. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Ship Propeller Production in the Middle East

In value terms, ship propeller production reduced to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 298%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Ship Propeller Exports

Exports in the Middle East

For the third consecutive year, the Middle East recorded growth in overseas shipments of ships’ or boats’ propellers and blades therefor, which increased by 113% to X tons in 2022. In general, exports showed prominent growth. The growth pace was the most rapid in 2014 with an increase of 118%. The volume of export peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, ship propeller exports skyrocketed to $X in 2022. Overall, exports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 119% against the previous year. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

Bahrain represented the largest exporting country with an export of about X tons, which reached 75% of total exports. Oman (X tons) took a 10% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (7.5%) and the United Arab Emirates (6.1%).

Bahrain was also the fastest-growing in terms of the ships’ or boats’ propellers and blades therefor exports, with a CAGR of +84.0% from 2012 to 2022. At the same time, Turkey (+12.1%) displayed positive paces of growth. By contrast, the United Arab Emirates (-1.6%) and Oman (-8.3%) illustrated a downward trend over the same period. While the share of Bahrain (+75 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (-14.5 p.p.) and Oman (-60.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bahrain ($X), Oman ($X) and Turkey ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 96% of total exports.

Among the main exporting countries, Bahrain, with a CAGR of +76.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, which is down by -33.7% against the previous year. Over the period under review, the export price, however, saw a prominent increase. The pace of growth appeared the most rapid in 2015 when the export price increased by 168% against the previous year. The level of export peaked at $X per ton in 2020; however, from 2021 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 ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+21.8%), while the other leaders experienced mixed trends in the export price figures.

Ship Propeller Imports

Imports in the Middle East

In 2022, the amount of ships’ or boats’ propellers and blades therefor imported in the Middle East rose notably to X tons, growing by 10% compared with 2021. Overall, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 69%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, ship propeller imports dropped slightly to $X in 2022. Total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -8.7% against 2020 indices. The growth pace was the most rapid in 2014 when imports increased by 71% against the previous year. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) represented the largest importer of ships’ or boats’ propellers and blades therefor, comprising 67% of total imports. It was distantly followed by the United Arab Emirates (X tons), achieving a 28% share of total imports. Saudi Arabia (X tons) took a little share of total imports.

Turkey was also the fastest-growing in terms of the ships’ or boats’ propellers and blades therefor imports, with a CAGR of +14.6% from 2012 to 2022. At the same time, the United Arab Emirates (+10.9%) and Saudi Arabia (+7.4%) displayed positive paces of growth. While the share of Turkey (+19 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported ships’ or boats’ propellers and blades therefor in the Middle East, comprising 71% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 20% share of total imports.

In Turkey, ship propeller imports increased at an average annual rate of +8.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (-3.5% per year) and Saudi Arabia (+10.5% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, declining by -9.4% against the previous year. Overall, the import price recorded a abrupt slump. The growth pace was the most rapid in 2018 when the import price increased by 27% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+2.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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