Middle East: Knitting Machine Market 2024

Knitting Machine Market Size in the Middle East

In 2023, the Middle Eastern knitting machine market decreased by X% to $X, falling for the second year in a row after two years of growth. In general, consumption, however, showed perceptible growth. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Knitting Machine Production in the Middle East

In value terms, knitting machine production surged to $X in 2023 estimated in export price. In general, production continues to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Knitting Machine Exports

Exports in the Middle East

In 2023, approx. X units of flat knitting machines, stitch-bonding machines and warp knitting machines were exported in the Middle East; jumping by X% against 2022. Overall, exports recorded prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The volume of export peaked in 2023 and is expected to retain growth in the near future.

In value terms, knitting machine exports skyrocketed to $X in 2023. In general, exports showed mild growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, Turkey (X units) was the major exporter of flat knitting machines, stitch-bonding machines and warp knitting machines in the Middle East, mixing up X% of total export.

Turkey was also the fastest-growing in terms of the flat knitting machines, stitch-bonding machines and warp knitting machines exports, with a CAGR of X% from 2012 to 2023. Turkey (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, Turkey ($X) also remains the largest knitting machine supplier in the Middle East.

In Turkey, knitting machine exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2023, dropping by X% against the previous year. In general, the export price recorded a deep setback. The most prominent rate of growth was recorded in 2016 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2014; however, from 2015 to 2023, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2012 to 2023, the rate of growth in terms of prices for Turkey amounted to X% per year.

Knitting Machine Imports

Imports in the Middle East

Knitting machine imports declined rapidly to X units in 2023, waning by X% compared with 2022 figures. Overall, imports, however, recorded moderate growth. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X units in 2022, and then shrank sharply in the following year.

In value terms, knitting machine imports reduced rapidly to $X in 2023. Over the period under review, imports saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2023, imports failed to regain momentum.

Imports by Country

Turkey dominates imports structure, resulting at X units, which was near X% of total imports in 2023. It was distantly followed by the United Arab Emirates (X units) and Iran (X units), together comprising a X% share of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2023. At the same time, Iran (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2023. Iran (X p.p.) and the United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total imports, while Turkey saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported flat knitting machines, stitch-bonding machines and warp knitting machines in the Middle East, comprising X% of total imports. The second position in the ranking was held by Iran ($X), with a X% share of total imports.

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

Import Prices by Country

In 2023, the import price in the Middle East amounted to $X per unit, dropping by X% against the previous year. In general, the import price continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2023, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Iran ($X per unit), while the United Arab Emirates ($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 a decline in the import price figures.

Source: IndexBox Platform