GCC: Market for Iron Or Steel Bridges And Bridge-Sections 2024

Market Size for Iron Or Steel Bridges And Bridge-Sections in GCC

In 2023, after two years of growth, there was significant decline in the GCC iron or steel bridges market, when its value decreased by X% to $X. Over the period under review, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2022, and then fell significantly in the following year.

Production of Iron Or Steel Bridges And Bridge-Sections in GCC

In value terms, iron or steel bridges production fell to $X in 2023 estimated in export price. The total production indicated a modest expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. The level of production peaked at $X in 2015; however, from 2016 to 2023, production failed to regain momentum.

Exports of Iron Or Steel Bridges And Bridge-Sections

Exports in GCC

In 2023, the amount of iron or steel bridges and bridge-sections exported in GCC dropped to X tons, waning by X% against 2022 figures. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

In value terms, iron or steel bridges exports fell to $X in 2023. Total exports indicated a notable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Bahrain dominates exports structure, accounting for X tons, which was approx. X% of total exports in 2023. It was distantly followed by Saudi Arabia (X tons), generating a X% share of total exports. The United Arab Emirates (X tons) followed a long way behind the leaders.

Bahrain experienced a relatively flat trend pattern with regard to volume of exports of iron or steel bridges and bridge-sections. Saudi Arabia (X%) and the United Arab Emirates (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Bahrain increased by X percentage points.

In value terms, Bahrain ($X) remains the largest iron or steel bridges supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with an X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Bahrain stood at X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, falling by X% against the previous year. Export price indicated a strong expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, iron or steel bridges export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then declined in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bahrain (X%), while the other leaders experienced more modest paces of growth.

Imports of Iron Or Steel Bridges And Bridge-Sections

Imports in GCC

For the fourth consecutive year, GCC recorded decline in supplies from abroad of iron or steel bridges and bridge-sections, which decreased by X% to X tons in 2023. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. As a result, imports reached the peak of X tons. From 2018 to 2023, the growth of imports failed to regain momentum.

In value terms, iron or steel bridges imports soared to $X in 2023. Total imports indicated tangible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2018 indices. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2023, imports failed to regain momentum.

Imports by Country

Saudi Arabia represented the key importing country with an import of about X tons, which reached X% of total imports. The United Arab Emirates (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (X%), Oman (X%) and Qatar (X%). Bahrain (X tons) took a relatively small share of total imports.

Saudi Arabia experienced a relatively flat trend pattern with regard to volume of imports of iron or steel bridges and bridge-sections. At the same time, Kuwait (X%), Oman (X%), the United Arab Emirates (X%) and Bahrain (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2023. By contrast, Qatar (X%) illustrated a downward trend over the same period. Kuwait (X p.p.), Oman (X p.p.) and the United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total imports, while Qatar saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported iron or steel bridges and bridge-sections in GCC, comprising X% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total imports. It was followed by Oman, with a X% share.

In the United Arab Emirates, iron or steel bridges imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Oman (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2023, jumping by X% against the previous year. Over the period under review, the import price recorded a pronounced increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform