United Arab Emirates: Metal Honing Machine Market 2024

Metal Honing Machine Market Size in the United Arab Emirates

The metal honing machine market in the United Arab Emirates soared to $X in 2021, jumping by 28% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a modest expansion. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Metal Honing Machine Exports

Exports from the United Arab Emirates

In 2021, metal honing machine exports from the United Arab Emirates declined notably to X units, shrinking by -28.9% compared with 2020 figures. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 1,240% against the previous year. Over the period under review, the exports hit record highs at X units in 2020, and then fell remarkably in the following year.

In value terms, metal honing machine exports declined dramatically to $X in 2021. Overall, exports recorded a perceptible descent. The most prominent rate of growth was recorded in 2017 when exports increased by 859%. Over the period under review, the exports hit record highs at $X in 2020, and then contracted notably in the following year.

Exports by Country

Oman (X units) was the main destination for metal honing machine exports from the United Arab Emirates, with a 68% share of total exports. Moreover, metal honing machine exports to Oman exceeded the volume sent to the second major destination, Saudi Arabia (X units), fivefold. The third position in this ranking was held by Burundi (X units), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Oman stood at +50.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-21.1% per year) and Burundi (+40.3% per year).

In value terms, Oman ($X) emerged as the key foreign market for honing or lapping machines for working metal exports from the United Arab Emirates, comprising 95% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 2.4% share of total exports. It was followed by Burundi, with a 1.9% share.

From 2012 to 2021, the average annual growth rate of value to Oman stood at +42.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-96.3% per year) and Burundi (+84.7% per year).

Export Prices by Country

In 2021, the average metal honing machine export price amounted to $X per unit, falling by -12.2% against the previous year. Over the period under review, the export price showed a slight slump. The growth pace was the most rapid in 2016 when the average export price increased by 278% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the average export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Burundi (+31.3%), while the prices for the other major destinations experienced mixed trend patterns.

Metal Honing Machine Imports

Imports into the United Arab Emirates

In 2021, approx. X units of honing or lapping machines for working metal were imported into the United Arab Emirates; surging by 2.5% compared with the year before. Over the period under review, imports posted a pronounced expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 227% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, metal honing machine imports soared to $X in 2021. In general, imports, however, saw a pronounced decrease. The pace of growth appeared the most rapid in 2019 with an increase of 111%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the UK (X units) was the main metal honing machine supplier to the United Arab Emirates, accounting for a 91% share of total imports. Moreover, metal honing machine imports from the UK exceeded the figures recorded by the second-largest supplier, Switzerland (X units), more than tenfold. The third position in this ranking was held by India (X units), with a 2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the UK totaled +14.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+35.6% per year) and India (-6.1% per year).

In value terms, Switzerland ($X) constituted the largest supplier of honing or lapping machines for working metal to the United Arab Emirates, comprising 38% of total imports. The second position in the ranking was taken by the UK ($X), with a 16% share of total imports. It was followed by Italy, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from Switzerland stood at +61.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+3.7% per year) and Italy (-12.5% per year).

Import Prices by Country

The average metal honing machine import price stood at $X per unit in 2021, growing by 69% against the previous year. Overall, the import price, however, saw a drastic downturn. The pace of growth appeared the most rapid in 2013 when the average import price increased by 111% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+30.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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