MENA: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in MENA

In 2022, the MENA's gearboxes and speed changers market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Gearboxes and Speed Changers in MENA

In value terms, gearboxes and speed changers production declined remarkably to $X in 2022 estimated in export price. In general, production continues to indicate a resilient expansion. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Gearboxes and Speed Changers

Exports in MENA

In 2022, exports of gearboxes and speed changers in MENA expanded to X tons, surging by X% compared with the year before. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, gearboxes and speed changers exports skyrocketed to $X in 2022. Total exports indicated buoyant 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, exports increased by X% against 2016 indices. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Turkey was the major exporting country with an export of about X tons, which amounted to X% of total exports. It was distantly followed by the United Arab Emirates (X tons), comprising a X% share of total exports. Tunisia (X tons) held a little share of total exports.

Turkey experienced a relatively flat trend pattern with regard to volume of exports of gearboxes and speed changers. At the same time, Tunisia (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Tunisia emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. The United Arab Emirates (X p.p.) and Tunisia (X p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest gearboxes and speed changers supplier in MENA, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports.

In Turkey, gearboxes and speed changers exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Tunisia (X% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, jumping by X% against the previous year. Export price indicated a prominent expansion from 2012 to 2022: its price 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, gearboxes and speed changers export price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is likely to continue growth in the near future.

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 ($X per ton), while Tunisia ($X per ton) was amongst the lowest.

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

Imports of Gearboxes and Speed Changers

Imports in MENA

In 2022, approx. X tons of gearboxes and speed changers were imported in MENA; with an increase of X% against 2021. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, gearboxes and speed changers imports surged to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Turkey represented the key importer of gearboxes and speed changers in MENA, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2022. Saudi Arabia (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Iran (X%), the United Arab Emirates (X%), Morocco (X%) and Egypt (X%). Israel (X tons) and Algeria (X tons) took a relatively small share of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%), Morocco (X%), Egypt (X%), Iran (X%), Algeria (X%), Israel (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. While the share of Turkey (X p.p.) and the United Arab Emirates (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported gearboxes and speed changers in MENA, comprising X% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with an X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

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

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, picking up by X% against the previous year. In general, the import price, however, continues to indicate a mild downturn. The pace of growth was the most pronounced in 2021 an increase of X%. The level of import peaked at $X per ton in 2014; however, from 2015 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 Israel ($X per ton), while Iran ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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