United Arab Emirates: Gear Box Market 2024

Gear Box Market Size in the United Arab Emirates

The gear box market in the United Arab Emirates fell markedly to $X in 2022, waning by -39.4% against the previous year. Over the period under review, consumption, however, posted a prominent increase. As a result, consumption reached the peak level of $X, and then reduced rapidly in the following year.

Gear Box Production in the United Arab Emirates

In value terms, gear box production declined to $X in 2022 estimated in export price. Overall, the total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.1% against 2020 indices. The pace of growth was the most pronounced in 2015 with an increase of 56%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Gear Box Exports

Exports from the United Arab Emirates

In 2022, overseas shipments of gear boxes increased by 47% to X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports enjoyed a significant expansion. The growth pace was the most rapid in 2018 with an increase of 84%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, gear box exports surged to $X in 2022. In general, exports posted a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 52% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Kazakhstan (X units) was the main destination for gear box exports from the United Arab Emirates, with a 74% share of total exports. Moreover, gear box exports to Kazakhstan exceeded the volume sent to the second major destination, Tanzania (X units), more than tenfold. South Africa (X units) ranked third in terms of total exports with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Kazakhstan stood at +88.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (+11.6% per year) and South Africa (+8.2% per year).

In value terms, the largest markets for gear box exported from the United Arab Emirates were Germany ($X), Kazakhstan ($X) and South Africa ($X), with a combined 43% share of total exports.

Kazakhstan, with a CAGR of +67.4%, recorded the highest rates of growth with regard to 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 2022, the average gear box export price amounted to $X per unit, reducing by -17.5% against the previous year. Overall, the export price showed a abrupt descent. The pace of growth appeared the most rapid in 2014 when the average export price increased by 16% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Kazakhstan ($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 Germany (+20.9%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Box Imports

Imports into the United Arab Emirates

In 2022, supplies from abroad of gear boxes decreased by -63% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, recorded prominent growth. The growth pace was the most rapid in 2021 with an increase of 208%. As a result, imports reached the peak of X units, and then fell remarkably in the following year.

In value terms, gear box imports dropped markedly to $X in 2022. Over the period under review, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 87% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then contracted markedly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest gear box supplier to the United Arab Emirates, accounting for a 54% share of total imports. Moreover, gear box imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), eightfold. India (X units) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-0.2% per year) and India (+4.2% per year).

In value terms, China ($X) constituted the largest supplier of gear boxes to the United Arab Emirates, comprising 50% of total imports. The second position in the ranking was taken by Italy ($X), with an 8.4% share of total imports. It was followed by Germany, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +29.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-0.8% per year) and Germany (-7.3% per year).

Import Prices by Country

In 2022, the average gear box import price amounted to $X per unit, jumping by 119% against the previous year. In general, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :