Middle East: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in the Middle East

In 2022, after two years of growth, there was significant decline in the Middle Eastern gear cutting machine market, when its value decreased by X% to $X. Over the period under review, consumption recorded a noticeable contraction. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Gear Cutting Machine Production in the Middle East

In value terms, gear cutting machine production shrank rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a resilient expansion. The pace of growth was the most pronounced in 2019 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Gear Cutting Machine Exports

Exports in the Middle East

In 2022, shipments abroad of gear cutting, gear grinding or gear finishing machines increased by X% to X units, rising for the second year in a row after two years of decline. In general, exports enjoyed a prominent increase. The volume of export peaked at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, gear cutting machine exports skyrocketed to $X in 2022. Over the period under review, exports recorded a strong expansion. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey prevails in exports structure, finishing at X units, which was near X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X units), committing a X% share of total exports. Lebanon (X units) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the gear cutting, gear grinding or gear finishing machines exports, with a CAGR of X% from 2012 to 2022. Lebanon and the United Arab Emirates experienced a relatively flat trend pattern. From 2012 to 2022, the share of Turkey increased by X percentage points.

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

Among the main exporting countries, Lebanon, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the export price in the Middle East amounted to $X per unit, falling by X% against the previous year. In general, the export price saw a abrupt slump. The most prominent rate of growth was recorded in 2017 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 to 2022, the export prices failed to regain momentum.

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

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

Gear Cutting Machine Imports

Imports in the Middle East

In 2022, after two years of growth, there was significant decline in purchases abroad of gear cutting, gear grinding or gear finishing machines, when their volume decreased by X% to X units. Over the period under review, imports showed a deep slump. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, gear cutting machine imports dropped rapidly to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Turkey represented the key importing country with an import of about X units, which accounted for X% of total imports. It was distantly followed by Kuwait (X units), making up a X% share of total imports. The following importers - Iran (X units), Bahrain (X units), the United Arab Emirates (X units) and Yemen (X units) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to gear cutting machine imports into Turkey stood at X%. At the same time, Yemen (X%), the United Arab Emirates (X%) and Iran (X%) displayed positive paces of growth. Moreover, Yemen emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. Bahrain experienced a relatively flat trend pattern. By contrast, Kuwait (X%) illustrated a downward trend over the same period. Turkey (X p.p.), Kuwait (X p.p.), Iran (X p.p.), the United Arab Emirates (X p.p.), Yemen (X p.p.) and Bahrain (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported gear cutting, gear grinding or gear finishing machines in the Middle East, comprising X% of total imports. The second position in the ranking was taken by Iran ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

In Turkey, gear cutting machine imports expanded at an average annual rate of X% over the period from 2012-2022. 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 2022, the import price in the Middle East amounted to $X per unit, growing by X% against the previous year. Overall, the import price recorded a resilient increase. The most prominent rate of growth was recorded in 2015 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per unit in 2020; however, from 2021 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 Turkey ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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