Oman: Winche And Capstan Market 2024

Winche And Capstan Market Size in Oman

In 2021, the Omani winche and capstan market decreased by -1.6% to $X, falling for the third year in a row after five years of growth. Overall, consumption recorded temperate growth. Winche and capstan consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Winche And Capstan Production in Oman

In value terms, winche and capstan production surged to $X in 2021 estimated in export price. Over the period under review, production showed a significant increase. The pace of growth appeared the most rapid in 2013 when the production volume increased by 563%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Winche And Capstan Exports

Exports from Oman

After two years of growth, overseas shipments of winches and capstans decreased by -4.1% to X units in 2021. In general, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 330%. Over the period under review, the exports attained the maximum at X units in 2020, and then reduced in the following year.

In value terms, winche and capstan exports expanded rapidly to $X in 2021. Over the period under review, exports, however, posted significant growth. The growth pace was the most rapid in 2019 with an increase of 173%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the near future.

Exports by Country

The UK (X units) was the main destination for winche and capstan exports from Oman, accounting for a 47% share of total exports. Moreover, winche and capstan exports to the UK exceeded the volume sent to the second major destination, Qatar (X units), twofold. The third position in this ranking was held by the United Arab Emirates (X units), with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK amounted to +87.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+7.1% per year) and the United Arab Emirates (+27.0% per year).

In value terms, the UK ($X) emerged as the key foreign market for winches and capstans exports from Oman, comprising 47% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 16% share of total exports. It was followed by Qatar, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to the UK totaled +169.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+46.7% per year) and Qatar (+9.7% per year).

Export Prices by Country

The average winche and capstan export price stood at $X per unit in 2021, jumping by 20% against the previous year. Overall, export price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, winche and capstan export price decreased by -23.2% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 71% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to India ($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 the UK (+43.5%), while the prices for the other major destinations experienced more modest paces of growth.

Winche And Capstan Imports

Imports into Oman

In 2021, supplies from abroad of winches and capstans decreased by -8.6% to X units for the first time since 2018, thus ending a two-year rising trend. Overall, imports continue to indicate a mild descent. The pace of growth appeared the most rapid in 2014 when imports increased by 324%. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, winche and capstan imports contracted remarkably to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 200%. Over the period under review, imports reached the maximum at $X in 2020, and then shrank remarkably in the following year.

Imports by Country

In 2021, the United Arab Emirates (X units) constituted the largest supplier of winche and capstan to Oman, with a 42% share of total imports. Moreover, winche and capstan imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold. Saudi Arabia (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates totaled +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+10.8% per year) and Saudi Arabia (-8.6% per year).

In value terms, the largest winche and capstan suppliers to Oman were the United Arab Emirates ($X), Italy ($X) and the United States ($X), together comprising 46% of total imports. Saudi Arabia, China, South Korea, Free Zones and Singapore lagged somewhat behind, together accounting for a further 15%.

Among the main suppliers, Free Zones, with a CAGR of +1,922.7%, 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

The average winche and capstan import price stood at $X per unit in 2021, shrinking by -24.6% against the previous year. In general, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 an increase of 101% against the previous year. The import price peaked at $X per unit in 2020, and then fell significantly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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