Oman: Market for Machine-Tools For Working Any Material By Removal Of Material 2024

Market Size for Machine-Tools For Working Any Material By Removal Of Material in Oman

The Omani machine-tool for removing material market rose sharply to $X in 2021, growing by 14% against the previous year. Overall, consumption posted a resilient increase. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Production of Machine-Tools For Working Any Material By Removal Of Material in Oman

In value terms, machine-tool for removing material production surged to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by 296%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Exports of Machine-Tools For Working Any Material By Removal Of Material

Exports from Oman

For the eighth year in a row, Oman recorded growth in shipments abroad of machine-tools for working any material by removal of material, which increased by 59% to X units in 2021. Overall, exports posted a significant expansion. The growth pace was the most rapid in 2020 when exports increased by 475%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, machine-tool for removing material exports surged to $X in 2021. Over the period under review, exports saw prominent growth. The pace of growth was the most pronounced in 2020 when exports increased by 171% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

From 2012 to 2021, the average annual growth rate of volume to No country was relatively modest.

In value terms, Somalia ($X) emerged as the key foreign market for machine-tools for working any material by removal of material exports from Oman, comprising 21% of total exports. The second position in the ranking was taken by Yemen ($X), with a 5.7% share of total exports. It was followed by Qatar, with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Somalia amounted to +65.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (+2.8% per year) and Qatar (-12.3% per year).

Export Prices by Country

The average machine-tool for removing material export price stood at $X per unit in 2020, which is down by -52.9% against the previous year. Over the period under review, the export price showed a significant decline. The growth pace was the most rapid in 2017 an increase of 14%. As a result, the export price reached the peak level of $X per unit. From 2018 to 2020, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Somalia.

From 2015 to 2020, the rate of growth in terms of prices for the United Arab Emirates amounted to +403.5% per year.

Imports of Machine-Tools For Working Any Material By Removal Of Material

Imports into Oman

In 2021, the amount of machine-tools for working any material by removal of material imported into Oman dropped rapidly to X units, which is down by -20.9% compared with the previous year's figure. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 110%. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, machine-tool for removing material imports fell significantly to $X in 2021. In general, imports, however, recorded a slight expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 159% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the UK (X units) constituted the largest supplier of machine-tool for removing material to Oman, with a 55% share of total imports. Moreover, machine-tool for removing material imports from the UK exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), fivefold. The third position in this ranking was held by China (X units), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the UK stood at +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-6.5% per year) and China (-4.4% per year).

In value terms, the largest machine-tool for removing material suppliers to Oman were China ($X), the United Arab Emirates ($X) and Taiwan (Chinese) ($X), with a combined 39% share of total imports. These countries were followed by Italy, India, Turkey, the UK, the Netherlands and Germany, which together accounted for a further 7.3%.

The Netherlands, with a CAGR of +51.8%, saw the highest growth rate of the value of imports, among the main suppliers 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 machine-tool for removing material import price amounted to $X per unit, declining by -15.7% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 100% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

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 ($X per unit), while the price for Germany ($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 Netherlands (+54.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :