United Arab Emirates: Boring Machinery Market 2024

Boring Machinery Market Size in the United Arab Emirates

The boring machinery market in the United Arab Emirates contracted notably to $X in 2022, declining by -33.5% against the previous year. In general, consumption, however, saw a notable increase. Boring machinery consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Boring Machinery Production in the United Arab Emirates

In value terms, boring machinery production soared to $X in 2022 estimated in export price. In general, production recorded significant growth. The growth pace was the most rapid in 2020 with an increase of 325%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Boring Machinery Exports

Exports from the United Arab Emirates

Boring machinery exports from the United Arab Emirates skyrocketed to X units in 2022, growing by 49% compared with the previous year's figure. Over the period under review, exports posted a strong increase. The growth pace was the most rapid in 2019 when exports increased by 492% against the previous year. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, boring machinery exports surged to $X in 2022. Overall, exports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2017 when exports increased by 684% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X units) was the main destination for boring machinery exports from the United Arab Emirates, with a 37% share of total exports. Moreover, boring machinery exports to Germany exceeded the volume sent to the second major destination, India (X units), threefold. The third position in this ranking was taken by Egypt (X units), with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to +183.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+12.2% per year) and Egypt (+149.7% per year).

In value terms, Germany ($X), India ($X) and Egypt ($X) constituted the largest markets for boring machinery exported from the United Arab Emirates worldwide, together comprising 64% of total exports.

In terms of the main countries of destination, Germany, with a CAGR of +95.9%, recorded the highest growth rate of 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 boring machinery export price stood at $X per unit in 2022, standing approx. at the previous year. Over the period under review, the export price, however, continues to indicate a perceptible increase. The growth pace was the most rapid in 2015 when the average export price increased by 153% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mozambique (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Boring Machinery Imports

Imports into the United Arab Emirates

In 2022, approx. X units of boring or sinking machinery were imported into the United Arab Emirates; which is down by -67.1% on 2021. Over the period under review, imports faced a abrupt shrinkage. The growth pace was the most rapid in 2021 when imports increased by 379% against the previous year. Imports peaked at X units in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, boring machinery imports shrank markedly to $X in 2022. Overall, imports showed a abrupt descent. The most prominent rate of growth was recorded in 2019 with an increase of 246%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X units), Turkey (X units) and China (X units) were the main suppliers of boring machinery imports to the United Arab Emirates, with a combined 90% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +34.2%), while purchases for the other leaders experienced a decline.

In value terms, the United States ($X) constituted the largest supplier of boring or sinking machinery to the United Arab Emirates, comprising 87% of total imports. The second position in the ranking was taken by Turkey ($X), with a 3.8% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+26.2% per year) and China (-32.4% per year).

Import Prices by Country

The average boring machinery import price stood at $X per unit in 2022, rising by 105% against the previous year. Over the period under review, the import price posted a strong increase. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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