GCC: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in GCC

The GCC machine-tool for drilling market stood at $X in 2022, approximately equating the previous year. Overall, consumption enjoyed mild growth. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Machine-Tool For Drilling Production in GCC

In value terms, machine-tool for drilling production declined to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a strong increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Machine-Tool For Drilling Exports

Exports in GCC

After two years of growth, overseas shipments of machine-tools for drilling, boring or milling metal decreased by X% to X units in 2022. In general, exports, however, recorded a buoyant expansion. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of X units, and then contracted notably in the following year.

In value terms, machine-tool for drilling exports stood at $X in 2022. Overall, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, the United Arab Emirates (X units) was the key exporter of machine-tools for drilling, boring or milling metal, mixing up X% of total exports. It was distantly followed by Kuwait (X units), creating an X% share of total exports. Bahrain (X units) took a minor share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%) and Bahrain (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. Kuwait (X p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest machine-tool for drilling supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Kuwait ($X), with an X% share of total exports.

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

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, with an increase of X% against the previous year. Overall, the export price, however, saw a abrupt decline. The growth pace was the most rapid in 2018 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2012; however, from 2013 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 Bahrain ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the export price figures.

Machine-Tool For Drilling Imports

Imports in GCC

In 2022, supplies from abroad of machine-tools for drilling, boring or milling metal increased by X% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, machine-tool for drilling imports shrank rapidly to $X in 2022. Overall, imports, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates prevails in imports structure, recording X units, which was near X% of total imports in 2022. It was distantly followed by Oman (X units) and Kuwait (X units), together comprising a X% share of total imports. The following importers - Bahrain (X units) and Qatar (X units) - each resulted at a X% share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the machine-tools for drilling, boring or milling metal imports, with a CAGR of X% from 2012 to 2022. Bahrain experienced a relatively flat trend pattern. Kuwait (X%), Oman (X%) and Qatar (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.), Kuwait (X p.p.) and Bahrain (X p.p.) significantly strengthened its position in terms of the total imports, while Qatar saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported machine-tools for drilling, boring or milling metal in GCC, comprising X% of total imports. The second position in the ranking was held by Qatar ($X), with an 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 was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: 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, which is down by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of X%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the import prices remained at a 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 Qatar (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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