Oman: Power Tool Market 2024

Power Tool Market Size in Oman

In 2021, the Omani power tool market was finally on the rise to reach $X after two years of decline. In general, consumption recorded a significant expansion. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Power Tool Exports

Exports from Oman

Power tool exports from Oman declined remarkably to X units in 2021, which is down by -69.2% on the previous year. Over the period under review, exports, however, saw significant growth. The growth pace was the most rapid in 2016 with an increase of 503%. Over the period under review, the exports reached the maximum at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, power tool exports dropped sharply to $X in 2021. Overall, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2017 when exports increased by 2,806% against the previous year. Over the period under review, the exports hit record highs at $X in 2020, and then reduced markedly in the following year.

Exports by Country

The United Arab Emirates (X units) was the main destination for power tool exports from Oman, accounting for a 54% share of total exports. Moreover, power tool exports to the United Arab Emirates exceeded the volume sent to the second major destination, Qatar (X units), threefold. The third position in this ranking was taken by Free Zones (X units), with a 9.8% share.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates totaled +62.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (-7.0% per year) and Free Zones (+158.9% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for power tools exports from Oman, comprising 52% of total exports. The second position in the ranking was taken by Qatar ($X), with an 18% share of total exports. It was followed by Free Zones, with a 9.1% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates amounted to +41.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+0.2% per year) and Free Zones (+147.8% per year).

Export Prices by Country

The average power tool export price stood at $X per unit in 2021, growing by 26% against the previous year. In general, the export price continues to indicate notable growth. The most prominent rate of growth was recorded in 2017 an increase of 1,309% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Yemen ($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 Qatar (+7.7%), while the prices for the other major destinations experienced mixed trend patterns.

Power Tool Imports

Imports into Oman

Power tool imports into Oman reduced to X units in 2021, approximately mirroring the previous year. Overall, imports, however, posted a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 5,394%. Imports peaked at X units in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, power tool imports stood at $X in 2021. Over the period under review, total imports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 62%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United Arab Emirates (X units) constituted the largest power tool supplier to Oman, with a 82% share of total imports. Moreover, power tool imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X units), more than tenfold. The third position in this ranking was taken by the Czech Republic (X units), with a 3.4% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates amounted to +13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.3% per year) and the Czech Republic (+54.8% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of power tools to Oman, comprising 80% of total imports. The second position in the ranking was taken by China ($X), with a 6.2% share of total imports. It was followed by the Czech Republic, with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates totaled +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.8% per year) and the Czech Republic (+59.8% per year).

Import Prices by Country

In 2021, the average power tool import price amounted to $X per unit, picking up by 7.1% against the previous year. Overall, the import price, however, saw a precipitous slump. The most prominent rate of growth was recorded in 2014 when the average import price increased by 166%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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