GCC: Market for Numerically Controlled Sharpening Machines For Working Metal 2024

Market Size for Numerically Controlled Sharpening Machines For Working Metal in GCC

For the third consecutive year, the GCC numerically controlled sharpening machine market recorded decline in sales value, which decreased by X% to $X in 2022. Over the period under review, consumption saw measured growth. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Numerically Controlled Sharpening Machines For Working Metal in GCC

In value terms, numerically controlled sharpening machine production surged to $X in 2022 estimated in export price. Overall, production showed a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Exports of Numerically Controlled Sharpening Machines For Working Metal

Exports in GCC

Numerically controlled sharpening machine exports surged to X units in 2022, rising by X% on the previous year. Overall, exports recorded a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, numerically controlled sharpening machine exports surged to $X in 2022. In general, exports recorded a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates was the main exporter of numerically controlled sharpening machines for working metal in GCC, with the volume of exports recording X units, which was approx. X% of total exports in 2022. It was distantly followed by Oman (X units) and Bahrain (X units), together making up a X% 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, Oman (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. By contrast, Bahrain (X%) illustrated a downward trend over the same period. Oman (X p.p.) and Bahrain (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.

In value terms, the United Arab Emirates ($X) remains the largest numerically controlled sharpening machine supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Bahrain ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Bahrain (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, rising by X% against the previous year. Over the period under review, the export price posted prominent growth. The pace of growth was the most pronounced in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2015; however, from 2016 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 the United Arab Emirates ($X per unit), while Oman ($X per unit) was amongst the lowest.

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

Imports of Numerically Controlled Sharpening Machines For Working Metal

Imports in GCC

In 2022, overseas purchases of numerically controlled sharpening machines for working metal increased by X% to X units for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports showed a significant increase. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. The volume of import peaked at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, numerically controlled sharpening machine imports dropped remarkably to $X in 2022. In general, imports, however, recorded a deep downturn. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Kuwait prevails in imports structure, accounting for X units, which was approx. X% of total imports in 2022. It was distantly followed by the United Arab Emirates (X units), mixing up a X% share of total imports.

Kuwait was also the fastest-growing in terms of the numerically controlled sharpening machines for working metal imports, with a CAGR of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. From 2012 to 2022, the share of Kuwait increased by X percentage points.

In value terms, the largest numerically controlled sharpening machine importing markets in GCC were the United Arab Emirates ($X) and Kuwait ($X).

Among the main importing countries, Kuwait, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review.

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 continues to indicate a sharp reduction. The growth pace was the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Kuwait amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%).

Source: IndexBox Platform

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