Oman: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in Oman

After seven years of growth, the Omani machine-tool for working metal market decreased by -6.4% to $X in 2021. Over the period under review, consumption, however, posted a resilient increase. Over the period under review, the market attained the peak level at $X in 2020, and then declined in the following year.

Production of Machine Tools For Working Metal in Oman

In value terms, machine-tool for working metal production dropped sharply to $X in 2021 estimated in export price. In general, production, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 97% against the previous year. As a result, production attained the peak level of $X, and then fell markedly in the following year.

Exports of Machine Tools For Working Metal

Exports from Oman

After four years of growth, shipments abroad of machine tools for working metal decreased by -87% to X units in 2021. In general, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of 2,829% against the previous year. As a result, the exports reached the peak of X units, and then shrank notably in the following year.

In value terms, machine-tool for working metal exports declined rapidly to $X in 2021. Overall, exports, however, posted significant growth. The growth pace was the most rapid in 2020 when exports increased by 2,292%. As a result, the exports reached the peak of $X, and then shrank rapidly in the following year.

Exports by Country

Somalia (X units), India (X units) and Malaysia (X units) were the main destinations of machine-tool for working metal exports from Oman, with a combined 70% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +3,400.0%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X) emerged as the key foreign market for machine tools for working metal exports from Oman, comprising 41% of total exports. The second position in the ranking was held by the United States ($X), with an 18% share of total exports. It was followed by Somalia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to India stood at +68.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+29.7% per year) and Somalia (+143.0% per year).

Export Prices by Country

In 2021, the average machine-tool for working metal export price amounted to $X per unit, growing by 36% against the previous year. Over the period under review, the export price posted buoyant growth. The growth pace was the most rapid in 2016 an increase of 141% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to Iran ($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 Italy (+21.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine Tools For Working Metal

Imports into Oman

In 2021, machine-tool for working metal imports into Oman plummeted to X units, with a decrease of -42.7% compared with 2020 figures. Over the period under review, imports faced a abrupt descent. The most prominent rate of growth was recorded in 2019 with an increase of 93% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, machine-tool for working metal imports reduced notably to $X in 2021. Overall, imports showed a deep contraction. The most prominent rate of growth was recorded in 2015 when imports increased by 92% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X units), Jordan (X units) and Taiwan (Chinese) (X units) were the main suppliers of machine-tool for working metal imports to Oman, together comprising 92% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Jordan (with a CAGR of +77.6%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the United Arab Emirates ($X), China ($X) and India ($X) constituted the largest machine-tool for working metal suppliers to Oman, together comprising 41% of total imports. Taiwan (Chinese), Jordan, Turkey, Italy, Qatar and Pakistan lagged somewhat behind, together accounting for a further 14%.

In terms of the main suppliers, Jordan, with a CAGR of +35.2%, recorded the highest growth rate of 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 machine-tool for working metal import price amounted to $X per unit, with an increase of 6.4% against the previous year. Over the period under review, the import price, however, showed a perceptible slump. The growth pace was the most rapid in 2016 when the average import price increased by 63%. As a result, import price attained the peak level of $X per unit. From 2017 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per unit), while the price for Jordan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+64.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :