Middle East: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in the Middle East

In 2022, the Middle Eastern cranks and crankshafts market decreased by X% to $X, falling for the third consecutive year after five years of growth. The total consumption indicated a slight expansion 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, consumption decreased by X% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Cranks And Crankshafts Production in the Middle East

In value terms, cranks and crankshafts production shrank rapidly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Cranks And Crankshafts Exports

Exports in the Middle East

In 2022, cranks and crankshafts exports in the Middle East shrank to X tons, which is down by X% on 2021 figures. Total exports indicated a buoyant increase from 2012 to 2022: its volume 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 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The volume of export peaked at X tons in 2021, and then reduced in the following year.

In value terms, cranks and crankshafts exports soared to $X in 2022. Total exports indicated a strong expansion 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 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Turkey was the largest exporting country with an export of about X tons, which resulted at X% of total exports. It was distantly followed by the United Arab Emirates (X tons), committing an X% share of total exports.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Turkey (X p.p.) displayed negative dynamics.

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

In Turkey, cranks and crankshafts exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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 Turkey amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Cranks And Crankshafts Imports

Imports in the Middle East

In 2022, overseas purchases of cranks and crankshafts increased by X% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, cranks and crankshafts imports rose notably to $X in 2022. Overall, imports saw a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Turkey (X tons) represented the main importer of cranks and crankshafts, generating X% of total imports. The United Arab Emirates (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Iran (X%), Saudi Arabia (X%) and Israel (X%). Iraq (X tons) followed a long way behind the leaders.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, Israel (X%), the United Arab Emirates (X%) and Iran (X%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, Iraq (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, the United Arab Emirates and Israel increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest cranks and crankshafts importing markets in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), together accounting for X% of total imports. Israel, Iran and Iraq lagged somewhat behind, together accounting for a further X%.

Israel, with a CAGR of X%, recorded 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 the Middle East amounted to $X per ton, increasing by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat 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 Saudi Arabia ($X per ton), while Iran ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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