Saudi Arabia: Market for Machine-Tools For Working Any Material By Removal Of Material 2024

Market Size for Machine-Tools For Working Any Material By Removal Of Material in Saudi Arabia

The Saudi machine-tool for removing material market shrank slightly to $X in 2021, reducing by -3.1% against the previous year. Over the period under review, the total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -12.1% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Machine-Tools For Working Any Material By Removal Of Material in Saudi Arabia

In value terms, machine-tool for removing material production reduced to $X in 2021 estimated in export price. Overall, production saw strong growth. The growth pace was the most rapid in 2019 when the production volume increased by 44% against the previous year. Machine-tool for removing material production peaked at $X in 2020, and then dropped in the following year.

Exports of Machine-Tools For Working Any Material By Removal Of Material

Exports from Saudi Arabia

In 2021, overseas shipments of machine-tools for working any material by removal of material decreased by 0% to X units for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2017 when exports increased by 300%. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, machine-tool for removing material exports dropped to $X in 2021. In general, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 838%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Italy (X units) was the main destination for machine-tool for removing material exports from Saudi Arabia, accounting for a 755% share of total exports. Moreover, machine-tool for removing material exports to Italy exceeded the volume sent to the second major destination, the United Arab Emirates (X units), more than tenfold. The third position in this ranking was taken by Pakistan (X units), with a 36% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Italy amounted to +94.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (0.0% per year) and Pakistan (0.0% per year).

In value terms, the largest markets for machine-tool for removing material exported from Saudi Arabia were Italy ($X), Pakistan ($X) and the United Arab Emirates ($X).

The Netherlands, with a CAGR of +92.0%, recorded 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 machine-tool for removing material export price stood at $X per unit in 2021, remaining constant against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 135% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

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 Pakistan ($X per unit), while the average price for exports to the Netherlands ($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 India (+1.2%), while the prices for the other major destinations experienced a decline.

Imports of Machine-Tools For Working Any Material By Removal Of Material

Imports into Saudi Arabia

In 2019, imports of machine-tools for working any material by removal of material into Saudi Arabia was estimated at X units, therefore, remained relatively stable against the year before. Over the period under review, imports showed a relatively flat trend pattern. Imports peaked in 2019 and are likely to see gradual growth in the immediate term.

In value terms, machine-tool for removing material imports amounted to $X in 2019. In general, imports continue to indicate a relatively flat trend pattern. Imports peaked in 2019 and are likely to see gradual growth in years to come.

Imports by Country

New Zealand (X units), the United States (X units) and the Netherlands (X units) were the main suppliers of machine-tool for removing material imports to Saudi Arabia, together comprising 33% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +36.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of machine-tools for working any material by removal of material to Saudi Arabia, comprising 41% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 17% share of total imports. It was followed by Japan, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +29.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+48.6% per year) and Japan (+46.9% per year).

Import Prices by Country

The average machine-tool for removing material import price stood at less than $X per unit in 2021, therefore, remained relatively stable against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 a decrease of 99.9% against the previous year. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per unit), while the price for New Zealand ($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 (+38.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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