MENA: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in MENA

The MENA's balancing mechanical parts machine market declined modestly to $X.1B in 2022, remaining relatively unchanged against the previous year. Overall, consumption, however, saw a resilient expansion. The level of consumption peaked at $X.1B in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Machines For Balancing Mechanical Parts in MENA

In value terms, balancing mechanical parts machine production shrank slightly to $X in 2022 estimated in export price. In general, production, however, posted a resilient increase. The pace of growth was the most pronounced in 2014 when the production volume increased by X%. Over the period under review, production attained the peak level at $X.6B in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Machines For Balancing Mechanical Parts

Exports in MENA

In 2022, overseas shipments of machines for balancing mechanical parts decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of X units, and then dropped dramatically in the following year.

In value terms, balancing mechanical parts machine exports reduced markedly to $X in 2022. Overall, exports showed a abrupt decrease. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the three major exporters of machines for balancing mechanical parts, namely Kuwait, Israel and Turkey, represented more than two-thirds of total export. It was distantly followed by the United Arab Emirates (X units), making up a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Kuwait (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest balancing mechanical parts machine supplying countries in MENA were Kuwait ($X), Turkey ($X) and the United Arab Emirates ($X), with a combined X% share of total exports.

Among the main exporting countries, Kuwait, with a CAGR of X%, recorded 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

The export price in MENA stood at $X per unit in 2022, surging by X% against the previous year. Overall, the export price, however, saw a abrupt curtailment. The pace of growth appeared the most rapid in 2018 when the export price increased by X% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 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 ($X per unit), while Israel ($X per unit) was amongst the lowest.

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

Imports of Machines For Balancing Mechanical Parts

Imports in MENA

In 2022, supplies from abroad of machines for balancing mechanical parts decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. In general, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, balancing mechanical parts machine imports fell markedly to $X in 2022. Overall, imports showed a pronounced decrease. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

Kuwait represented the major importing country with an import of about X units, which recorded X% of total imports. Turkey (X units) held an X% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (X%), Qatar (X%) and Iraq (X%). Israel (X units), Libya (X units), Iran (X units), Morocco (X units), Algeria (X units) and Egypt (X units) took a little share of total imports.

Imports into Kuwait increased at an average annual rate of X% from 2012 to 2022. At the same time, Libya (X%), Iraq (X%), Algeria (X%), Morocco (X%), the United Arab Emirates (X%), Iran (X%) and Israel (X%) displayed positive paces of growth. Moreover, Libya emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. Egypt and Turkey experienced a relatively flat trend pattern. By contrast, Qatar (X%) illustrated a downward trend over the same period. Kuwait (X p.p.), Iraq (X p.p.), the United Arab Emirates (X p.p.), Turkey (X p.p.), Libya (X p.p.), Iran (X p.p.), Israel (X p.p.), Morocco (X p.p.) and Algeria (X p.p.) significantly strengthened its position in terms of the total imports, while Qatar saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), Iran ($X) and Qatar ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Iran, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of 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, falling by X% against the previous year. Over the period under review, the import price, however, continues to indicate a measured expansion. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform

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