Oman: Market for Machine Tools For Working Metal Without Removing Metal 2024

Market Size for Machine Tools For Working Metal Without Removing Metal in Oman

The Omani machine tool for metal market surged to $X in 2021, picking up by 2,285% 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). Overall, consumption recorded a significant expansion. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Exports of Machine Tools For Working Metal Without Removing Metal

Exports from Oman

In 2021, the amount of machine tools for working metal without removing metal exported from Oman declined rapidly to X units, falling by -75% compared with the previous year's figure. Overall, exports saw a sharp curtailment. The pace of growth appeared the most rapid in 2019 with an increase of 433%. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, machine tool for metal exports shrank rapidly to $X in 2021. In general, exports showed a sharp decrease. The most prominent rate of growth was recorded in 2019 when exports increased by 472%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

India (X units) and the United Arab Emirates (X units) were the main destinations of machine tool for metal exports from Oman. Moreover, machine tool for metal exports in India exceeded the figures recorded by the second-largest exporter, the United Arab Emirates, twofold.

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 -11.5%).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for machine tools for working metal without removing metal exports from Oman, comprising 70% of total exports. The second position in the ranking was taken by India ($X), with a 30% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates totaled -5.7%.

Export Prices by Country

The average machine tool for metal export price stood at $X per unit in 2021, reducing by -41.6% against the previous year. Overall, the export price, however, continues to indicate resilient growth. The growth pace was the most rapid in 2016 an increase of 620% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to India stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+17.5%), while the prices for the other major destinations experienced a decline.

Imports of Machine Tools For Working Metal Without Removing Metal

Imports into Oman

In 2021, the amount of machine tools for working metal without removing metal imported into Oman surged to X units, jumping by 1,902% compared with the year before. Overall, imports posted significant growth. Over the period under review, imports attained the peak figure at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, machine tool for metal imports skyrocketed to $X in 2021. Over the period under review, imports enjoyed buoyant growth. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

South Korea (X units), Taiwan (Chinese) (X units) and China (X units) were the main suppliers of machine tool for metal imports to Oman, with a combined 71% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +114.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) constituted the largest supplier of machine tools for working metal without removing metal to Oman, comprising 51% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 19% share of total imports. It was followed by China, with a 5.5% share.

From 2012 to 2021, the average annual growth rate of value from South Korea totaled +30.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+103.8% per year) and China (+31.6% per year).

Import Prices by Country

The average machine tool for metal import price stood at $X per unit in 2021, rising by 27% against the previous year. Over the period under review, the import price, however, showed a noticeable decline. The most prominent rate of growth was recorded in 2019 when the average import price increased by 54% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was South Korea ($X per unit), while the price for Iran ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+11.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :