Oman: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in Oman

The Omani hydraulic cylinder and system market fell slightly to $X in 2022, dropping by -2.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a resilient expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Exports of Hydraulic Cylinders And Systems

Exports from Oman

In 2022, overseas shipments of hydraulic cylinders and systems were finally on the rise to reach X units after two years of decline. In general, exports showed a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 826%. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, hydraulic cylinder and system exports surged to $X in 2022. Over the period under review, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 855% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for hydraulic cylinder and system exports from Oman, accounting for a 79% share of total exports. Moreover, hydraulic cylinder and system exports to the United Arab Emirates exceeded the volume sent to the second major destination, Qatar (X units), tenfold. The third position in this ranking was taken by Spain (X units), with a 4.3% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates totaled +54.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+45.8% per year) and Spain (+67.4% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for hydraulic cylinders and systems exports from Oman, comprising 57% of total exports. The second position in the ranking was taken by Qatar ($X), with a 13% share of total exports. It was followed by Spain, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates stood at +67.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+75.0% per year) and Spain (+50.7% per year).

Export Prices by Country

The average hydraulic cylinder and system export price stood at less than $X per unit in 2022, with a decrease of -7.6% against the previous year. In general, the export price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2015 an increase of 47% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Germany (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (+32.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hydraulic Cylinders And Systems

Imports into Oman

In 2022, the amount of hydraulic cylinders and systems imported into Oman rose sharply to X units, with an increase of 7.2% compared with the previous year's figure. Over the period under review, imports continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2017 when imports increased by 158%. Imports peaked at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, hydraulic cylinder and system imports rose significantly to $X in 2022. In general, imports saw buoyant growth. The pace of growth appeared the most rapid in 2017 with an increase of 107%. Over the period under review, imports reached the peak figure at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X units) constituted the largest supplier of hydraulic cylinder and system to Oman, accounting for a 69% share of total imports. Moreover, hydraulic cylinder and system imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Qatar (X units), tenfold. Turkey (X units) ranked third in terms of total imports with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates amounted to +36.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Qatar (-1.2% per year) and Turkey (+54.4% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of hydraulic cylinders and systems to Oman, comprising 41% of total imports. The second position in the ranking was held by Qatar ($X), with a 13% share of total imports. It was followed by the United States, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates amounted to +21.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Qatar (+23.5% per year) and the United States (+6.8% per year).

Import Prices by Country

In 2022, the average hydraulic cylinder and system import price amounted to $X per unit, rising by 5.7% against the previous year. In general, the import price, however, continues to indicate a noticeable descent. The pace of growth appeared the most rapid in 2015 when the average import price increased by 71% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+25.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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