GCC: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in GCC

The GCC grinding and sharpening machine market reduced to $X in 2022, dropping by X% against the previous year. Over the period under review, consumption, however, recorded a prominent increase. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Grinding And Sharpening Metal Finishing Machines in GCC

In value terms, grinding and sharpening machine production contracted slightly to $X in 2022 estimated in export price. In general, production, however, posted a strong expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports in GCC

In 2022, overseas shipments of grinding and sharpening metal finishing machines decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, saw resilient growth. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. The volume of export peaked at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, grinding and sharpening machine exports shrank significantly to $X in 2022. In general, exports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of export peaked at $X in 2021, and then contracted remarkably in the following year.

Exports by Country

Kuwait represented the main exporter of grinding and sharpening metal finishing machines in GCC, with the volume of exports recording X units, which was approx. X% of total exports in 2022. The United Arab Emirates (X units) took the second position in the ranking, followed by Bahrain (X units). All these countries together took near X% share of total exports. Saudi Arabia (X units) and Oman (X units) followed a long way behind the leaders.

Kuwait was also the fastest-growing in terms of the grinding and sharpening metal finishing machines exports, with a CAGR of X% from 2012 to 2022. At the same time, Bahrain (X%) and the United Arab Emirates (X%) displayed positive paces of growth. By contrast, Saudi Arabia (X%) and Oman (X%) illustrated a downward trend over the same period. While the share of Kuwait (X p.p.) and Bahrain (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (X p.p.), the United Arab Emirates (X p.p.) and Oman (X p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) emerged as the largest grinding and sharpening machine supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Oman, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia stood at X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, falling by X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports in GCC

For the third consecutive year, GCC recorded growth in overseas purchases of grinding and sharpening metal finishing machines, which increased by X% to X units in 2022. In general, imports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, grinding and sharpening machine imports surged to $X in 2022. Overall, imports, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Bahrain represented the main importing country with an import of about X units, which recorded X% of total imports. The United Arab Emirates (X units) took the second position in the ranking, distantly followed by Kuwait (X units). All these countries together took near X% share of total imports. Qatar (X units) and Oman (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Kuwait (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported grinding and sharpening metal finishing machines in GCC, comprising X% of total imports. The second position in the ranking was held by Qatar ($X), with a X% share of total imports. It was followed by Kuwait, with a X% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled X%. In the other countries, the average annual rates were as follows: Qatar (X% per year) and Kuwait (X% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, rising by X% against the previous year. In general, the import price, however, faced a deep contraction. The pace of growth appeared the most rapid in 2019 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per unit), while Bahrain ($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 Arab Emirates (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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