Saudi Arabia: Market for Machine-Tools For Working Wood 2024

Market Size for Machine-Tools For Working Wood in Saudi Arabia

In 2021, the Saudi machine-tool for working wood market increased by 44% to $X, rising for the second consecutive year after four years of decline. Overall, consumption, however, saw a abrupt shrinkage. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Exports of Machine-Tools For Working Wood

Exports from Saudi Arabia

Machine-tool for working wood exports from Saudi Arabia dropped remarkably to X tons in 2021, declining by -34.1% compared with the previous year. Over the period under review, exports showed a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of 638% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, machine-tool for working wood exports contracted to $X in 2021. In general, exports continue to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by 395% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Jordan (X tons), Sudan (X tons) and Oman (X tons) were the main destinations of machine-tool for working wood exports from Saudi Arabia, with a combined 58% share of total exports. Bahrain, Turkey, Egypt, Germany, Yemen, Kuwait and Pakistan lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2021, the biggest increases were recorded for Yemen (with a CAGR of +424.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Bahrain ($X) and Turkey ($X) were the largest markets for machine-tool for working wood exported from Saudi Arabia worldwide, together accounting for 53% of total exports. These countries were followed by Oman, Jordan, Sudan, Egypt, Kuwait, Pakistan and Yemen, which together accounted for a further 27%.

Yemen, with a CAGR of +168.6%, recorded the highest growth rate of the value of exports, among 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 working wood export price stood at $X per ton in 2021, with an increase of 38% against the previous year. Over the period under review, the export price saw a temperate expansion. The most prominent rate of growth was recorded in 2020 an increase of 97%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Sudan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (+45.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine-Tools For Working Wood

Imports into Saudi Arabia

In 2021, purchases abroad of machine-tools for working wood was finally on the rise to reach X tons after five years of decline. Over the period under review, imports, however, continue to indicate a abrupt setback. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, machine-tool for working wood imports declined remarkably to $X in 2021. In general, imports, however, continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 197%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Italy (X tons) and Spain (X tons) were the main suppliers of machine-tool for working wood imports to Saudi Arabia, with a combined 67% share of total imports. These countries were followed by Austria, Germany, India, the United Arab Emirates and Taiwan (Chinese), which together accounted for a further 9%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +27.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Italy ($X) and China ($X) constituted the largest machine-tool for working wood suppliers to Saudi Arabia, with a combined 76% share of total imports.

Spain, with a CAGR of +26.8%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 machine-tool for working wood import price amounted to $X per ton, shrinking by -57.7% against the previous year. In general, the import price, however, saw a notable expansion. The pace of growth appeared the most rapid in 2020 when the average import price increased by 228% against the previous year. As a result, import price attained the peak level of $X per ton, and then dropped rapidly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+23.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :