Oman: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in Oman

For the fourth year in a row, the Omani machine-tool for drilling market recorded decline in sales value, which decreased by -0.1% to $X in 2022. Overall, consumption continues to indicate a deep reduction. Machine-tool for drilling consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Machine-Tool For Drilling Exports

Exports from Oman

In 2022, the amount of machine-tools for drilling, boring or milling metal exported from Oman rose markedly to X units, picking up by 8.9% compared with 2021 figures. Over the period under review, exports posted a strong expansion. The pace of growth was the most pronounced in 2017 with an increase of 835%. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, machine-tool for drilling exports surged to $X in 2022. In general, exports posted strong growth. The most prominent rate of growth was recorded in 2018 when exports increased by 372% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020; afterwards, it flattened through to 2022.

Exports by Country

The United Arab Emirates (X units) was the main destination for machine-tool for drilling exports from Oman, accounting for a 61% share of total exports. Moreover, machine-tool for drilling exports to the United Arab Emirates exceeded the volume sent to the second major destination, Pakistan (X units), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates totaled +24.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+31.1% per year) and India (+24.6% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for machine-tools for drilling, boring or milling metal exports from Oman, comprising 34% of total exports. The second position in the ranking was held by Italy ($X), with a 6.3% share of total exports. It was followed by India, with a 0.3% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates totaled +25.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+43.2% per year) and India (+47.1% per year).

Export Prices by Country

In 2022, the average machine-tool for drilling export price amounted to $X per unit, increasing by 33% against the previous year. Over the period under review, the export price showed a strong expansion. The pace of growth appeared the most rapid in 2018 an increase of 3,450%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Pakistan ($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 Nepal (+173.5%), while the prices for the other major destinations experienced more modest paces of growth.

Machine-Tool For Drilling Imports

Imports into Oman

In 2022, overseas purchases of machine-tools for drilling, boring or milling metal decreased by -8.1% to X units, falling for the third consecutive year after two years of growth. Over the period under review, imports saw a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of 177% against the previous year. Over the period under review, imports attained the peak figure at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, machine-tool for drilling imports expanded rapidly to $X in 2022. Overall, imports faced a deep setback. The growth pace was the most rapid in 2018 when imports increased by 156%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X units) constituted the largest machine-tool for drilling supplier to Oman, accounting for a 29% share of total imports. Moreover, machine-tool for drilling imports from India exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), twofold. The third position in this ranking was held by the UK (X units), with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume from India totaled +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+1.9% per year) and the UK (-9.9% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of machine-tools for drilling, boring or milling metal to Oman, comprising 23% of total imports. The second position in the ranking was taken by the UK ($X), with a 9.4% share of total imports. It was followed by Italy, with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-6.1% per year) and Italy (-18.6% per year).

Import Prices by Country

In 2022, the average machine-tool for drilling import price amounted to $X per unit, growing by 23% against the previous year. In general, the import price, however, continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2017 an increase of 43%. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Qatar ($X per unit), while the price for India ($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 (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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