MENA: Metal Honing Machine Market 2024

Metal Honing Machine Market Size in MENA

After two years of decline, the MENA's metal honing machine market increased by X% to $X in 2023. The total consumption indicated a tangible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2023, consumption remained at a lower figure.

Metal Honing Machine Production in MENA

In value terms, metal honing machine production reached $X in 2023 estimated in export price. Overall, production, however, showed a deep downturn. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2023, production growth failed to regain momentum.

Metal Honing Machine Exports

Exports in MENA

Metal honing machine exports skyrocketed to X units in 2023, growing by X% against the previous year. Over the period under review, exports, however, recorded a mild contraction. The volume of export peaked at X units in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, metal honing machine exports soared to $X in 2023. In general, exports posted a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2023, Israel (X units) and the United Arab Emirates (X units) represented the key exporters of honing or lapping machines for working metal in MENA, together amounting to approx. X% of total exports. It was distantly followed by Turkey (X units), generating an X% share of total exports. Lebanon (X units) and Iran (X units) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Iran (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X) remains the largest metal honing machine supplier in MENA, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Israel stood at X%. In the other countries, the average annual rates were as follows: Turkey (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2023, the export price in MENA amounted to $X per unit, jumping by X% against the previous year. Over the period under review, the export price continues to indicate strong growth. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Israel ($X per unit), while Lebanon ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Iran (X%), while the other leaders experienced more modest paces of growth.

Metal Honing Machine Imports

Imports in MENA

In 2023, after four years of decline, there was significant growth in supplies from abroad of honing or lapping machines for working metal, when their volume increased by X% to X units. Total imports indicated a noticeable increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the peak figure at X units in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.

In value terms, metal honing machine imports skyrocketed to $X in 2023. Total imports indicated a slight expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2023, imports failed to regain momentum.

Imports by Country

Egypt was the main importer of honing or lapping machines for working metal in MENA, with the volume of imports recording X units, which was approx. X% of total imports in 2023. The United Arab Emirates (X units) ranks second in terms of the total imports with a X% share, followed by Israel (X%). Turkey (X units) held a relatively small share of total imports.

Imports into Egypt increased at an average annual rate of X% from 2012 to 2023. At the same time, Israel (X%), the United Arab Emirates (X%) and Turkey (X%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Egypt, the United Arab Emirates and Israel increased by X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest metal honing machine importing markets in MENA were Turkey ($X), Israel ($X) and the United Arab Emirates ($X), with a combined X% share of total imports.

In terms of the main importing countries, Israel, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in MENA amounted to $X per unit, declining by X% against the previous year. Overall, the import price saw a mild reduction. The most prominent rate of growth was recorded in 2022 an increase of X%. The level of import peaked at $X per unit in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Israel (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform