MENA: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in MENA

In 2022, the MENA's gear cutting machine market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption continues to indicate a deep downturn. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Gear Cutting Machine Production in MENA

In value terms, gear cutting machine production fell dramatically to $X in 2022 estimated in export price. Overall, production, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Gear Cutting Machine Exports

Exports in MENA

In 2022, overseas shipments of gear cutting, gear grinding or gear finishing machines increased by X% to X units, rising for the second year in a row after two years of decline. Overall, exports enjoyed a buoyant increase. Over the period under review, the exports attained the maximum at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, gear cutting machine exports expanded remarkably to $X in 2022. In general, exports enjoyed a notable expansion. The pace of growth was the most pronounced in 2014 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey dominates exports structure, finishing at X units, which was approx. X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X units), generating a X% share of total exports. Lebanon (X units) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the gear cutting, gear grinding or gear finishing machines exports, with a CAGR of X% from 2012 to 2022. Lebanon and the United Arab Emirates experienced a relatively flat trend pattern. From 2012 to 2022, the share of Turkey increased by X percentage points.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Lebanon ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports.

In terms of the main exporting countries, Lebanon, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per unit, falling by X% against the previous year. Over the period under review, the export price showed a abrupt descent. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Turkey ($X per unit) was amongst the lowest.

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

Gear Cutting Machine Imports

Imports in MENA

In 2022, approx. X units of gear cutting, gear grinding or gear finishing machines were imported in MENA; declining by X% against the previous year's figure. Over the period under review, imports faced a abrupt downturn. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, gear cutting machine imports declined remarkably to $X in 2022. In general, imports saw a mild reduction. The pace of growth appeared the most rapid in 2020 with an increase of X%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Turkey was the main importing country with an import of about X units, which finished at X% of total imports. It was distantly followed by Kuwait (X units), committing a X% share of total imports. The following importers - Iran (X units), Bahrain (X units), the United Arab Emirates (X units), Yemen (X units) and Morocco (X units) - together made up X% of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, Yemen (X%), the United Arab Emirates (X%), Morocco (X%) and Iran (X%) displayed positive paces of growth. Moreover, Yemen emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. Bahrain experienced a relatively flat trend pattern. By contrast, Kuwait (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, Kuwait, Iran, the United Arab Emirates, Yemen and Bahrain increased by X, X, X, X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported gear cutting, gear grinding or gear finishing machines in MENA, comprising X% of total imports. The second position in the ranking was taken by Iran ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

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

Import Prices by Country

The import price in MENA stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, the import price enjoyed strong growth. The most prominent rate of growth was recorded in 2015 when the import price increased by X%. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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 Turkey ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Yemen (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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