Saudi Arabia: Metal Cutting Shear Market 2024

Metal Cutting Shear Market Size in Saudi Arabia

After two years of growth, the Saudi metal cutting shear market decreased by 99.9% to less than $X in 2022. Overall, consumption recorded a abrupt setback. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Metal Cutting Shear Production in Saudi Arabia

In value terms, metal cutting shear production rose markedly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a noticeable slump. The pace of growth was the most pronounced in 2020 when the production volume increased by 25% against the previous year. Metal cutting shear production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Metal Cutting Shear Exports

Exports from Saudi Arabia

In 2021, shipments abroad of metal cutting shears and similar hand tools increased by 178% to X tons, rising for the second consecutive year after three years of decline. Overall, exports saw a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, metal cutting shear exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a noticeable downturn. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Bahrain (X tons), the United Arab Emirates (X tons) and Jordan (X tons) were the main destinations of metal cutting shear exports from Saudi Arabia, with a combined 100% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Jordan (with a CAGR of +335.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for metal cutting shear exported from Saudi Arabia were Bahrain ($X), the United Arab Emirates ($X) and Jordan ($X), with a combined 99% share of total exports.

Bahrain, with a CAGR of +140.6%, 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

In 2021, the average metal cutting shear export price amounted to $X per ton, reducing by -14.7% against the previous year. Over the period under review, the export price showed a deep setback. The pace of growth was the most pronounced in 2017 an increase of 76% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a 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 Bahrain ($X per ton), while the average price for exports to Jordan ($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 Qatar (+20.5%), while the prices for the other major destinations experienced a decline.

Metal Cutting Shear Imports

Imports into Saudi Arabia

Metal cutting shear imports into Saudi Arabia was estimated at X tons in 2021, leveling off at the year before. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 39% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, metal cutting shear imports stood at $X in 2021. In general, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 29% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of metal cutting shear to Saudi Arabia, accounting for a 70% share of total imports. Moreover, metal cutting shear imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China totaled +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-2.6% per year) and the United States (-1.6% per year).

In value terms, China ($X) constituted the largest supplier of metal cutting shears and similar hand tools to Saudi Arabia, comprising 30% of total imports. The second position in the ranking was held by the United States ($X), with a 14% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+11.4% per year) and Taiwan (Chinese) (+0.8% per year).

Import Prices by Country

In 2021, the average metal cutting shear import price amounted to $X per ton, approximately reflecting the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average import price increased by 6.3% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; afterwards, it flattened through to 2021.

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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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