Saudi Arabia: Market for Railway Or Tramway Track Construction Material Of Iron Or Steel 2024

Market Size for Railway Or Tramway Track Construction Material Of Iron Or Steel in Saudi Arabia

In 2021, the Saudi market for railway or tramway track construction material of iron or steel decreased by -49% to $X, falling for the fifth year in a row after three years of growth. Over the period under review, consumption showed a mild descent. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Production of Railway Or Tramway Track Construction Material Of Iron Or Steel in Saudi Arabia

In value terms, production of railway or tramway track construction material of iron or steel reduced remarkably to $X in 2021 estimated in export price. Overall, production, however, recorded a significant increase. The pace of growth was the most pronounced in 2014 when the production volume increased by 266%. Over the period under review, production of hit record highs at $X in 2020, and then shrank significantly in the following year.

Exports of Railway Or Tramway Track Construction Material Of Iron Or Steel

Exports from Saudi Arabia

In 2021, the amount of railway or tramway track construction material of iron or steel exported from Saudi Arabia skyrocketed to X tons, jumping by 94% against the year before. Over the period under review, exports showed a modest increase. The most prominent rate of growth was recorded in 2020 when exports increased by 213%. Over the period under review, the exports of attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of railway or tramway track construction material of iron or steel soared to $X in 2021. Overall, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 192% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons), Jordan (X tons) and Kuwait (X tons) were the main destinations of exports of railway or tramway track construction material of iron or steel from Saudi Arabia, with a combined 78% share of total exports. Bahrain, the UK, Oman, Iraq, Yemen and Sudan lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +683.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron and steel railway construction materials exported from Saudi Arabia were the United Arab Emirates ($X), Jordan ($X) and Kuwait ($X), together accounting for 57% of total exports. Bahrain, the UK, Oman, Iraq, Sudan and Yemen lagged somewhat behind, together accounting for a further 31%.

In terms of the main countries of destination, the UK, with a CAGR of +271.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for railway or tramway track construction material of iron or steel stood at $X per ton in 2021, which is down by -4.3% against the previous year. In general, the export price, however, showed noticeable growth. The most prominent rate of growth was recorded in 2017 an increase of 84% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sudan ($X per ton), while the average price for exports to Yemen ($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 Sudan (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Railway Or Tramway Track Construction Material Of Iron Or Steel

Imports into Saudi Arabia

In 2021, overseas purchases of railway or tramway track construction material of iron or steel were finally on the rise to reach X tons after four years of decline. Overall, imports, however, saw a sharp slump. The most prominent rate of growth was recorded in 2015 when imports increased by 130% against the previous year. Over the period under review, imports of hit record highs at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of railway or tramway track construction material of iron or steel amounted to $X in 2021. In general, imports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2015 with an increase of 46% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest iron and steel railway construction materials supplier to Saudi Arabia, accounting for a 85% share of total imports. Moreover, imports of railway or tramway track construction material of iron or steel from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. The third position in this ranking was taken by China (X tons), with a 23% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates stood at -15.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+29.2% per year) and China (-6.7% per year).

In value terms, Sweden ($X), France ($X) and the United Arab Emirates ($X) constituted the largest iron and steel railway construction materials suppliers to Saudi Arabia, with a combined 58% share of total imports. China, Thailand, Spain, Austria, Luxembourg, Egypt, Belgium, Jordan, Japan and Bahrain lagged somewhat behind, together comprising a further 28%.

In terms of the main suppliers, Belgium, with a CAGR of +37.2%, saw 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 import price for railway or tramway track construction material of iron or steel stood at $X per ton in 2021, declining by -2% against the previous year. Over the period under review, the import price, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2020 an increase of 560%. As a result, import price reached the peak level of $X per ton, and then reduced slightly in the following year.

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 Sweden ($X per ton), while the price for Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Luxembourg (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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