Middle East: Winche And Capstan Market 2024

Winche And Capstan Market Size in the Middle East

The Middle Eastern winche and capstan market declined to $X in 2021, which is down by -11% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Winche And Capstan Production in the Middle East

In value terms, winche and capstan production expanded to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a temperate increase. The growth pace was the most rapid in 2014 with an increase of 88% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Winche And Capstan Exports

Exports in the Middle East

In 2021, shipments abroad of winches and capstans increased by 61% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 172%. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, winche and capstan exports skyrocketed to $X in 2021. In general, exports saw a resilient expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 101% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Turkey represented the major exporting country with an export of about X units, which resulted at 72% of total exports. Saudi Arabia (X units) took the second position in the ranking, followed by Oman (X units) and the United Arab Emirates (X units). All these countries together held approx. 27% share of total exports.

Turkey was also the fastest-growing in terms of the winches and capstans exports, with a CAGR of +63.1% from 2012 to 2021. At the same time, Saudi Arabia (+31.0%) and Oman (+22.1%) displayed positive paces of growth. By contrast, the United Arab Emirates (-2.9%) illustrated a downward trend over the same period. Turkey (+67 p.p.) and Saudi Arabia (+6.7 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -39.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest winche and capstan supplier in the Middle East, comprising 74% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 9.7% share of total exports. It was followed by Oman, with a 7.8% share.

In Turkey, winche and capstan exports expanded at an average annual rate of +22.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (-9.1% per year) and Oman (+27.9% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per unit, which is down by -12.7% against the previous year. In general, the export price showed a abrupt setback. The most prominent rate of growth was recorded in 2018 when the export price increased by 122% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was the United Arab Emirates ($X per unit), while Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+4.7%), while the other leaders experienced a decline in the export price figures.

Winche And Capstan Imports

Imports in the Middle East

In 2021, approx. X units of winches and capstans were imported in the Middle East; picking up by 14% against the year before. Total imports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +49.6% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 48%. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, winche and capstan imports surged to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 29% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Turkey (X units) was the key importer of winches and capstans, creating 57% of total imports. The United Arab Emirates (X units) ranks second in terms of the total imports with a 24% share, followed by Israel (7.9%). Oman (X units), Iran (X units), Iraq (X units) and Kuwait (X units) held a little share of total imports.

Turkey was also the fastest-growing in terms of the winches and capstans imports, with a CAGR of +11.9% from 2012 to 2021. At the same time, Kuwait (+9.5%) and Israel (+2.6%) displayed positive paces of growth. By contrast, Oman (-1.2%), the United Arab Emirates (-3.6%), Iraq (-5.0%) and Iran (-13.4%) illustrated a downward trend over the same period. Turkey (+32 p.p.) significantly strengthened its position in terms of the total imports, while Iraq, Iran and the United Arab Emirates saw its share reduced by -1.6%, -8.3% and -16.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest winche and capstan importing markets in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Iran ($X), with a combined 66% share of total imports. Kuwait, Israel, Iraq and Oman lagged somewhat behind, together comprising a further 18%.

Kuwait, with a CAGR of +17.3%, recorded the highest growth rate of the value of imports, in terms of 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

In 2021, the import price in the Middle East amounted to $X per unit, increasing by 2.1% against the previous year. In general, the import price, however, showed a mild curtailment. The most prominent rate of growth was recorded in 2014 an increase of 29% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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