Oman: Market for Grinding, Sanding and Polishing Machines 2024

Market Size for Grinding, Sanding and Polishing Machines in Oman

In 2021, the Omani market for grinding, sanding and polishing machines decreased by -37.2% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption faced a drastic downturn. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Grinding, Sanding and Polishing Machines in Oman

In value terms, grinding, sanding and polishing machine production reduced modestly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 23%. Grinding, sanding and polishing machine production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Grinding, Sanding and Polishing Machines

Exports from Oman

In 2021, approx. X units of grinding, sanding and polishing machines were exported from Oman; increasing by 10% compared with the previous year. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 639% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, grinding, sanding and polishing machine exports expanded to $X in 2021. Over the period under review, exports enjoyed a prominent increase. The growth pace was the most rapid in 2013 with an increase of 543%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for grinding, sanding and polishing machine exports from Oman, with a 73% share of total exports. Moreover, grinding, sanding and polishing machine exports to the United Arab Emirates exceeded the volume sent to the second major destination, Saudi Arabia (X units), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to +26.0%.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for grinding, sanding and polishing machines exports from Oman, comprising 90% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 9.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates amounted to +10.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (0.0% per year) and Qatar (-30.2% per year).

Export Prices by Country

In 2021, the average export price for grinding, sanding and polishing machines amounted to $X per unit, declining by -5.2% against the previous year. Overall, the export price recorded a abrupt slump. The most prominent rate of growth was recorded in 2017 when the average export price increased by 121%. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (-5.7%).

Imports of Grinding, Sanding and Polishing Machines

Imports into Oman

In 2021, grinding, sanding and polishing machine imports into Oman reduced markedly to X units, waning by -50% compared with the previous year's figure. Overall, imports faced a abrupt setback. The growth pace was the most rapid in 2019 with an increase of 308%. Imports peaked at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, grinding, sanding and polishing machine imports contracted remarkably to $X in 2021. Over the period under review, imports showed a deep slump. The growth pace was the most rapid in 2019 with an increase of 277%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Taiwan (Chinese) (X units) constituted the largest supplier of grinding, sanding and polishing machine to Oman, accounting for a 38% share of total imports. Moreover, grinding, sanding and polishing machine imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), twofold. Germany (X units) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Taiwan (Chinese) stood at +31.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (0.0% per year) and Germany (-3.1% per year).

In value terms, the largest grinding, sanding and polishing machine suppliers to Oman were Taiwan (Chinese) ($X), Italy ($X) and Germany ($X), with a combined 74% share of total imports.

Among the main suppliers, Taiwan (Chinese), with a CAGR of +71.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for grinding, sanding and polishing machines amounted to $X per unit, surging by 42% against the previous year. In general, the import price continues to indicate a moderate expansion. The most prominent rate of growth was recorded in 2020 when the average import price increased by 69%. The import price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Maldives ($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 UK (+18.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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