MENA: Market for Machinery for Liquefying Air or Gases 2024

Market Size for Machinery for Liquefying Air or Gases in MENA

The MENA's air or gas liquefier market dropped modestly to $X in 2022, falling by -4.8% against the previous year. In general, consumption, however, showed a perceptible increase. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Production of Machinery for Liquefying Air or Gases in MENA

In value terms, air or gas liquefier production dropped slightly to $X in 2022 estimated in export price. In general, production, however, posted slight growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 63% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Exports of Machinery for Liquefying Air or Gases

Exports in MENA

In 2022, overseas shipments of machinery for liquefying air or gases decreased by -34.3% to X units, falling for the second consecutive year after four years of growth. In general, exports, however, recorded strong growth. The pace of growth was the most pronounced in 2015 with an increase of 525%. The volume of export peaked at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, air or gas liquefier exports shrank to $X in 2022. Overall, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 205% against the previous year. The level of export peaked at $X in 2021, and then fell in the following year.

Exports by Country

The United Arab Emirates represented the major exporting country with an export of around X units, which recorded 74% of total exports. It was distantly followed by Turkey (X units) and Israel (X units), together creating a 22% share of total exports. Oman (X units) took a minor share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the machinery for liquefying air or gases exports, with a CAGR of +13.0% from 2012 to 2022. At the same time, Turkey (+4.1%) displayed positive paces of growth. By contrast, Israel (-41.5%) and Oman (-50.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Israel, Oman and the United Arab Emirates increased by +8.7, +4.3 and +2.5 percentage points, respectively.

In value terms, the United Arab Emirates ($X) remains the largest air or gas liquefier supplier in MENA, comprising 82% of total exports. The second position in the ranking was held by Israel ($X), with a 10% share of total exports. It was followed by Oman, with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at +48.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Israel (+37.6% per year) and Oman (+59.1% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2022, rising by 37% against the previous year. In general, the export price enjoyed a significant increase. The growth pace was the most rapid in 2016 when the export price increased by 375% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+132.8%), while the other leaders experienced more modest paces of growth.

Imports of Machinery for Liquefying Air or Gases

Imports in MENA

In 2022, approx. X units of machinery for liquefying air or gases were imported in MENA; waning by -29% compared with the year before. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by 4,258%. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, air or gas liquefier imports contracted modestly to $X in 2022. Over the period under review, imports recorded a deep setback. The growth pace was the most rapid in 2017 with an increase of 116%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The purchases of the eleven major importers of machinery for liquefying air or gases, namely the United Arab Emirates, Turkey, Algeria, Iran, Egypt, Qatar, Iraq, Tunisia, Morocco, Oman and Yemen, represented more than two-thirds of total import. Israel (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Yemen (with a CAGR of +73.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), the United Arab Emirates ($X) and Algeria ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 59% share of total imports.

Egypt, with a CAGR of +61.8%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per unit, jumping by 39% against the previous year. Overall, the import price, however, continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2016 an increase of 1,010% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Egypt ($X per unit), while Yemen ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+34.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :