Middle East: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in the Middle East

In 2022, after two years of decline, there was significant growth in the Middle Eastern gearboxes and speed changers market, when its value increased by X% to $X. Over the period under review, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Gearboxes and Speed Changers in the Middle East

In value terms, gearboxes and speed changers production declined dramatically to $X in 2022 estimated in export price. Overall, production continues to indicate a significant increase. The pace of growth was the most pronounced in 2018 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Gearboxes and Speed Changers

Exports in the Middle East

In 2022, approx. X tons of gearboxes and speed changers were exported in the Middle East; growing by X% compared with 2021 figures. Over the period under review, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, gearboxes and speed changers 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 2016 indices. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

Turkey represented the largest exporter of gearboxes and speed changers in the Middle East, with the volume of exports recording X tons, which was approx. X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), committing a X% share of total exports.

Turkey experienced a relatively flat trend pattern with regard to volume of exports of gearboxes and speed changers. 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. The United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by X% from 2012 to 2022, respectively.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at X%.

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. Export price indicated a resilient expansion from 2012 to 2022: its price 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, gearboxes and speed changers export price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2018 when the export price increased by X%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey totaled $X per ton.

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

Imports of Gearboxes and Speed Changers

Imports in the Middle East

In 2022, gearboxes and speed changers imports in the Middle East totaled X tons, surging by X% against 2021 figures. Total imports indicated pronounced growth 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, imports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, gearboxes and speed changers imports rose notably to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Turkey represented the key importing country with an import of about X tons, which reached X% of total imports. Saudi Arabia (X tons) ranks second in terms of the total imports with a X% share, followed by Iran (X%), the United Arab Emirates (X%) and Israel (X%). Iraq (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to gearboxes and speed changers imports into Turkey stood at X%. At the same time, Iraq (X%), the United Arab Emirates (X%), Iran (X%), Israel (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. Turkey (X p.p.), the United Arab Emirates (X p.p.) and Iraq (X p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia 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 ($X) constitutes the largest market for imported gearboxes and speed changers in the Middle East, comprising X% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with an X% share.

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

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price, however, recorded a slight setback. The pace of growth appeared the most rapid in 2021 an increase of 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.

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

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

Source: IndexBox Platform

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