Saudi Arabia: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in Saudi Arabia

The Saudi gear cutting machine market dropped dramatically to $X in 2021, waning by -94.1% against the previous year. Over the period under review, consumption showed a significant decrease. Gear cutting machine consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Gear Cutting Machine Production in Saudi Arabia

In value terms, gear cutting machine production rose slightly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a pronounced expansion. The pace of growth appeared the most rapid in 2014 with an increase of 66% against the previous year. Gear cutting machine production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Gear Cutting Machine Exports

Exports from Saudi Arabia

For the third year in a row, Saudi Arabia recorded growth in overseas shipments of gear cutting, gear grinding or gear finishing machines, which increased by 70% to X units in 2021. Over the period under review, exports showed prominent growth. The growth pace was the most rapid in 2015 with an increase of 260% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, gear cutting machine exports dropped rapidly to $X in 2021. In general, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2015 with an increase of 512%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Jordan (X units) was the main destination for gear cutting machine exports from Saudi Arabia, accounting for a 46% share of total exports. Moreover, gear cutting machine exports to Jordan exceeded the volume sent to the second major destination, Yemen (X units), twofold. Bahrain (X units) ranked third in terms of total exports with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Jordan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (0.0% per year) and Bahrain (+123.6% per year).

In value terms, Jordan ($X), the United Arab Emirates ($X) and Yemen ($X) constituted the largest markets for gear cutting machine exported from Saudi Arabia worldwide, with a combined 89% share of total exports. These countries were followed by Bahrain, Turkey, Germany, Oman and Egypt, which together accounted for a further 8.1%.

Egypt, with a CAGR of +140.9%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average gear cutting machine export price stood at $X per unit in 2021, falling by -59% against the previous year. Over the period under review, the export price saw a drastic downturn. The pace of growth appeared the most rapid in 2014 an increase of 261% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Egypt ($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 United Arab Emirates (+32.4%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Cutting Machine Imports

Imports into Saudi Arabia

In 2021, approx. less than X units of gear cutting, gear grinding or gear finishing machines were imported into Saudi Arabia; therefore, remained relatively stable against the previous year. Over the period under review, imports showed a relatively flat trend pattern.

In value terms, gear cutting machine imports fell remarkably to $X in 2021. In general, imports saw a abrupt shrinkage. The growth pace was the most rapid in 2020 when imports increased by 50%. As a result, imports reached the peak of $X, and then contracted sharply in the following year.

Imports by Country

China (X units), Italy (X units) and South Korea (X units) were the main suppliers of gear cutting machine imports to Saudi Arabia, together accounting for 43% of total imports. Malaysia, Taiwan (Chinese), the United States and Turkey lagged somewhat behind, together comprising a further 57%. Moreover, gear cutting machine imports in China exceeded the figures recorded by the second-largest supplier, Italy, threefold.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of 0.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest gear cutting machine suppliers to Saudi Arabia were China ($X), Italy ($X) and Taiwan (Chinese) ($X), together accounting for 66% of total imports.

Italy, with a CAGR of +14.1%, recorded 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 gear cutting machine import price amounted to less than $X per thousand units, stabilizing at the previous year. Overall, the import price showed a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per thousand units), while the price for Malaysia ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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