GCC: Ship Propeller Market 2024

Ship Propeller Market Size in GCC

In 2022, after three years of growth, there was decline in the GCC ship propeller market, when its value decreased by X% to $X. Overall, consumption showed resilient growth. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Ship Propeller Production in GCC

In value terms, ship propeller production reduced notably to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Ship Propeller Exports

Exports in GCC

In 2022, overseas shipments of ships or boats propellers and blades therefor increased by X% to X units, rising for the second year in a row after two years of decline. In general, exports enjoyed a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, ship propeller exports skyrocketed to $X in 2022. Over the period under review, exports saw prominent growth. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Bahrain represented the largest exporting country with an export of around X units, which amounted to X% of total exports. It was distantly followed by Oman (X units) and the United Arab Emirates (X units), together making up an X% share of total exports.

Bahrain was also the fastest-growing in terms of the ships or boats propellers and blades therefor exports, with a CAGR of X% from 2012 to 2022. The United Arab Emirates (X%) and Oman (X%) illustrated a downward trend over the same period. While the share of Bahrain (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) and Oman (X p.p.) displayed negative dynamics.

In value terms, the largest ship propeller supplying countries in GCC were Bahrain ($X), Oman ($X) and the United Arab Emirates ($X), with a combined X% share of total exports.

Bahrain, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, with a decrease of X% against the previous year. Overall, the export price, however, showed buoyant growth. The pace of growth was the most pronounced in 2015 when the export price increased by X%. The level of export peaked at $X per unit in 2018; however, from 2019 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 Oman ($X per unit), while the United Arab Emirates ($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 a decline in the export price figures.

Ship Propeller Imports

Imports in GCC

In 2022, imports of ships or boats propellers and blades therefor in GCC expanded rapidly to X units, increasing by X% against the previous year. Over the period under review, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, ship propeller imports amounted to $X in 2022. Overall, imports, however, saw a perceptible slump. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates prevails in imports structure, amounting to X units, which was approx. X% of total imports in 2022. It was distantly followed by Saudi Arabia (X units), mixing up a X% share of total imports. The following importers - Oman (X units) and Qatar (X units) - together made up X% of total imports.

The United Arab Emirates was also the fastest-growing in terms of the ships or boats propellers and blades therefor imports, with a CAGR of X% from 2012 to 2022. At the same time, Saudi Arabia (X%) displayed positive paces of growth. By contrast, Qatar (X%) and Oman (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported ships or boats propellers and blades therefor in GCC, comprising X% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total imports. It was followed by Qatar, with a X% share.

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

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, growing by X% against the previous year. Over the period under review, the import price, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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