GCC: Power Tool Market 2024

Power Tool Market Size in GCC

In 2022, the GCC power tool market was finally on the rise to reach $X for the first time since 2017, thus ending a four-year declining trend. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Power Tool Production in GCC

In value terms, power tool production amounted to $X in 2022 estimated in export price. The total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2017 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Power Tool Exports

Exports in GCC

In 2022, overseas shipments of power tools increased by X% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports continue to indicate slight growth. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, power tool exports stood at $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units) represented roughly X% of total exports in 2022.

The United Arab Emirates was also the fastest-growing in terms of the power tools exports, with a CAGR of X% from 2012 to 2022. From 2012 to 2022, the share of the United Arab Emirates increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest power tool supplier in GCC.

In the United Arab Emirates, power tool exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, dropping by X% against the previous year. Over the period under review, the export price showed a mild curtailment. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to X% per year.

Power Tool Imports

Imports in GCC

In 2022, overseas purchases of power tools increased by X% to X units, rising for the second consecutive year after three years of decline. Over the period under review, imports, however, showed a pronounced decline. The pace of growth was the most pronounced in 2017 when imports increased by X%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, power tool imports expanded to $X in 2022. In general, imports, however, saw a slight shrinkage. 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 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates was the key importer of power tools in GCC, with the volume of imports recording X units, which was near X% of total imports in 2022. Kuwait (X units) took the second position in the ranking, distantly followed by Qatar (X units). All these countries together took near X% share of total imports. Oman (X units) and Bahrain (X units) held a relatively small share of total imports.

Imports into the United Arab Emirates decreased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%) and Oman (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. Bahrain experienced a relatively flat trend pattern. By contrast, Qatar (X%) illustrated a downward trend over the same period. Kuwait (X p.p.), the United Arab Emirates (X p.p.) and Oman (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 ($X) constitutes the largest market for imported power tools in GCC, comprising X% of total imports. The second position in the ranking was held by Kuwait ($X), with a X% share of total imports. It was followed by Qatar, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (X% per year) and Qatar (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, reducing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a 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 Oman ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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