Middle East: Market for Equipment For Internal Combustion Engines 2024

Market Size for Equipment For Internal Combustion Engines in the Middle East

The Middle Eastern internal combustion engine equipment market reduced to $X in 2022, waning by X% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Equipment For Internal Combustion Engines in the Middle East

In value terms, internal combustion engine equipment production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production saw a measured increase. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

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Exports of Equipment For Internal Combustion Engines

Exports in the Middle East

In 2022, approx. X units of equipment for internal combustion engines were exported in the Middle East; jumping by X% compared with 2021 figures. Over the period under review, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, internal combustion engine equipment exports skyrocketed to $X in 2022. In general, exports enjoyed a strong increase. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Saudi Arabia was the major exporter of equipment for internal combustion engines in the Middle East, with the volume of exports amounting to X units, which was near X% of total exports in 2022. Turkey (X units) took a X% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (X%).

Exports from Saudi Arabia increased at an average annual rate of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) and Turkey (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. Saudi Arabia (X p.p.) and the United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest internal combustion engine equipment supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Turkey (X% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per unit, shrinking by X% against the previous year. Over the period under review, the export price continues to indicate a mild shrinkage. The growth pace was the most rapid in 2015 an increase of X%. As a result, the export price attained the peak level of $X per unit. From 2016 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 ($X per unit), while Turkey ($X per unit) was amongst the lowest.

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

Imports of Equipment For Internal Combustion Engines

Imports in the Middle East

In 2022, imports of equipment for internal combustion engines in the Middle East rose modestly to X units, surging by X% against 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. 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, internal combustion engine equipment imports surged to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Turkey was the key importer of equipment for internal combustion engines in the Middle East, with the volume of imports resulting at X units, which was near X% of total imports in 2022. It was distantly followed by the United Arab Emirates (X units), Iraq (X units) and Iran (X units), together making up a X% share of total imports. Oman (X units), Israel (X units) and Yemen (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 key importing countries, was attained by Yemen (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported equipment for internal combustion engines in the Middle East, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Iraq, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Iraq (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per unit in 2022, surging by X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the import price increased by X%. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform